Getting the perfect financial advisor is not an easy task in Malaysia. Most of the time, you are approached by a so called financial planner but who actually sells merely insurance, or unit trust, or some banking products. Definitely product selling is out of date. Here is an outline of the best quality you should look for when engaging a financial planner:

1. Do you like the financial planner?
No matter what his title or designation: financial planner, financial advisor, financial consultant, wealth manager, financial adviser, CFP, RFP, ChFC etc, the important thing is you like him. Most probably you will be working with the one you chose for a lifetime. So why would you want someone you hate to meet?

2. Always Client-centered
The financial planner should be able to clearly identifying your financial goals. He shall only recommend plan according to the financial objective you wish to achieve. To be fair, pay your planners the commission and consultant fees he deserves. If it is an unfair deal, both party will suffer. Always think of win-win situation.

3. Empathetic Listening planner
During your meeting, who will be the one who talks more often? At initial stage, you shall be answering a lot of question thrown by the financial planner. This is the stage of fact finding. At later stage, you shall receive more information and education about the financial plan recommended. If the adviser is empathy enough, you will get some proper advice. I used the word “education” because it is so crucial that you are educated every time during the meeting with the adviser.

4. Technically competent
Obviously, the planner needs to fully understand their plan, products and features. There is no perfect plan in the market. Every plan comes with pro and cons. If the planner can explain to you the advantages and disadvantages of the products he recommends, most likely he is competent. But bear in mind that competent adviser learn the technical knowledge through long term training and practice. If you find that it is hard for you to understand too technical area, ask the planner to simplify the explanation.

5. Possible best friend

The best financial planner will possibly be your best friend too. In order to get appropriate best advice, you are encouraged to share your life principle, your personal interest, your family concern, your money matters and all other private and confidential information with your planner. Treat your planner well and he will give you the best service.

I personally known many good financial planners out there in the market. If you are having trouble getting the most suitable one for yourself, ask around for referral. Talk to many potential advisers before you decided the best one for you. Bear in mind that you should be a nice person too. Why should a great planner spent his time on serving lousy client after all?

More information about financial planner:
Why engage Estate planner rather than a lawyer to write your WILL?
Making you rich is not a financial planner’s responsibility
Bought lousy plan from the best company

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Personal finance author and trainer

    10 replies to "Top Quality of a Perfect Personal Financial Planner"

    • Tracy

      I’m looking for reliable personal financial planner. Can u recommend few good ones for me. Tks.

    • Kent

      Hi KC, I’m 39 years old guy. I seriously need to have some expertise advice & idea on any secure investment instruments that can help to grow my portfolio to >8%p.a.

    • […] presents Top Quality of a Perfect Personal Financial Planner posted at KCLau’s Money Tips, saying, “Getting the perfect financial advisor is not an […]

    • kclau

      Thanks! I’ll add you in my prospect list. Haha.

    • Relax

      Yeah, I am looking forward to it.
      You helped me a lot 🙂

    • kclau

      HI Relax,
      You can count on me 🙂 I live my word.

    • Relax

      The financial planner whom I have chat with gives me bad impression on financial planner.
      He keep on trying to persuade me to join him in whatever program.
      Too bad, it does not seem easy to find a financial planner whom I can trust.
      Therefore, I have to learn about finance all on my own. Thanks to books and internet.

    • […] unveils Top Quality of a Perfect Personal Financial Planner, saying, “Getting the perfect financial advisor is not an easy task in Malaysia. Most of the […]

    • […] presents Top Quality of a Perfect Personal Financial Planner posted at KCLau’s Money Tips. If you are putting more money at low risk and liquid account, […]

    • […] Top Quality of a Perfect Personal Financial Planner (482 words) […]

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