Quora Answer: What Criteria Should You Use to Choose a Good Financial Consultant?

The following is my answer to a Quora question: “What criteria should you use to choose a good financial consultant?” 

You want a financial consultant who is competent.  You also want one who has your interests in mind.  A financial consultant should not be primarily a salesman.  Avoid anyone who pushes products.  A financial consultant should be proactive in updating you on the status of your investments, insurance and any other financial product he manages on your behalf.  If he sold you something and disappeared, get rid of him.  A financial consultant should have some knowledge of the market.  If he does not know more than you, get rid of him, and find someone who does.  It defeats the purpose of having one. 

A financial consultant should be able to handle your claims and issues in a timely manner.  This is regardless of the size of your portfolio.  If he does not, get rid of him.  A financial consultant should treat you the same regardless of how big or small your portfolio is.  If he cannot, he does not respect you.  Get rid of him.  A financial consultant should be discreet.  If he is the sort to post about his clients on social media, get rid of him.  Your coverage, your investments, your claims, are your business alone.  The rest of the world does not need to know.