KNOW THE TOP 7 TRAITS OF SUCCESSFUL WEALTH ADVISORS
Here are the top 7 traits of successful wealth advisors:
1) Expertise – Your advisor should be able to provide expert advice and independence in all areas of investment and retirement planning. A true equities expert will follow a clear, step-by-step investment process that identifies trends and top performers while mitigating risk.
2) Integrity and Results – Look for an advisor who is motivated, honest, and keeps commitments. Top wealth advisors provide frequent progress reports and devote the time to fully understand your goals. They help you remain accountable to the financial goals that are important to you.
3) Simplicity – Simplifying investment complexity ensures better decisions. Your advisor should be able to clearly explain difficult financial concepts and create clear and simple plans for you.
4) Transparency – Transparent advisors provide open access to records and use advanced tools and technology to effectively analyze, design, and maintain your financial plan.
5) Communication – Don’t be kept in the dark. The expert advisors at Sorensen Wealth Management located in Westlake Village, CA., reach out to their clients more than 100 times per year to provide the maximum level of communication.
6) Proactivity – Avoid the “order taker” and the “trader.” An “order taker” will passively manage your account. A “trader” trades assets in and out of portfolios with no clear reason. Seek an advisor with a proactive approach who uses clearly defined buying and selling criteria and provides true investment solutions. They should have the flexibility to adapt as market conditions change.
7) Experience and reputation – Look for a wealth advisor with a solid reputation and a successful track record. Seek an independent, holistic, Registered Investment Advisor (RIA) who will provide unbiased advice and that has a fiduciary responsibility to put your best interests first.