As your parents age, they might need additional assistance from a trustworthy family member to manage their finances. However, due to a variety of reasons. this might not be always possible because of which the need for a certified financial planner & fiduciary might arise.
In addition to ensuring objectivity and prioritizing the needs of your parents, a professional fiduciary also help in leveraging their assets to enhance their financial health. Naturally, because of the nature of the job, hiring one can be pretty complicated.
In this blog, we offer a few tips that will help you to hire the right person to oversee your parents’ finances:
Hiring a Certified Financial Planner & Professional Fiduciary
1. Do your research
Look for professional fiduciaries in your local area. Ensure that you look for reviews and also do some background research when you find someone eligible to know whether they have been subjected to disciplinary actions in the past.
2. Seek references
After you find someone who fits the bill and has an impeccable record, feel free to ask them for references from past or current clients or their partners. Talk to these references and also other professionals who can provide you with valuable insights regarding how good the professional fiduciary is at his or her job.
3. Interview
So, the reviews are great and now you are seriously thinking about hiring the professional fiduciary. However, do remember that the fiduciary will be in charge of guiding your parents when it comes to making the right financial decisions without having to be supervised all the time. Therefore, it should go without saying that the professional must be empathetic, patient, and of course, have comprehensive knowledge pertaining to the management of finances in an ethical and legal manner. In addition to this, it is important to ascertain whether your parents will be comfortable with the professional in question.
To put these concerns to rest, interview a minimum of 3 professionals before you zero in on the right one. Prepare a list of questions before you meet them. Ideally, you should ask them their succession plans, confidentiality measures, and whether they work directly with their clients or have a team to do it for them.
These are just some things that one should take into account while hiring a certified financial planner & professional fiduciary in San Diego, California. If you require the services of a reliable expert who offers services such as property management and oversees household management matters on behalf of your senior parents, get in touch with Chris Cooper today.