Most of the seniors have never invested before in their life because they were actually preoccupied by their employment work. With that idea in mind, it is very crucial for you a senior investor to make sure that you invest after you have sought advices from the investment experts. However, before seeking the services of a financial investor or advisor, you need to find out whether they are legit and you need to check if they have been such business before or for long. Here are a number of things you need to do before seeking advice from a financial investor.
Find out if the advisor is registered
All financial advisors in the U.S for example, have been registered by the Investment advisory board. In that case, always remember to check if the investment advisor has been registered. Sometimes, since we are new in the investment arena, you may be tempted to seek quick services from quack financial advisors who might be after your money and not actually the need to help you invest your money well. It is very important, therefore, to research the name and the company in which a person claiming to be a financial investment advisor comes from. Without doing this, you can actually find yourself in hot soup when you realize that such an advisor is not legit.
Find out who will be the custodian of your securities
A custodian is that person or an organization that will stand on your behalf when closing a business deal. The custodians also provide securities during your investment. You need to know who the custodian of your investment will be. Not all people who present themselves will be good custodians In order to find out who the best custodian is, you need research, ask those friends who have been down that road before. Do not just do things and make investment decisions blindly because it might send you from a frying pan into the fire.
Find whether the advisor earns commission from your services or investment
It is important to ask how the investment advisor will expect to be paid. There are those that will ask to be paid out of interests or income accrued from your investment and some will ask to be paid from your own cash. With that idea in mind, it is very crucial to understand how advisors operate.