Page 6 - May 2017

Financial Health

for Healthcare Professionals

Looking for a Trustworthy Financial Advisor

When you’re seeking a financial advisor to invest with, trustwor- Ask your advisor to explain what he or she did to qualify for that
thiness is the most important trait to look for. A professional advisor title. For example: “I had to complete 60 hours of coursework and sit
will demonstrate trustworthiness. The benefit of a trustworthy advi- for a series of comprehensive exams.”
sor is the knowledge and confidence you’ll have when making finan- Also, look for these designations and their applicability to your
cial decisions. particular situation. A designation alone doesn’t guarantee that a par-
Trust is a sacred trait. A trustworthy advisor will make appropriate ticular advisor is operating in a certain way.
recommendations for you even when those recommendations are • CERTIFIED FINANCIAL PLANNER™ (CFP®)
not in his or her best interest. A trustworthy advisor will tell you • Certified Funds Specialist (CFS)
what you need to hear, not what you want to hear. • Chartered Life Underwriter (CLU)
In addition, a trustworthy advisor is a warrior for you and your • Chartered Financial Consultant (ChFC)
family. Their job is to advise and assist you in doing the right things • Chartered Advisor in Philanthropy (CAP)
at the right time for the right reasons with the right people. A trust- • Accredited Domestic Partnership Advisor (ADPA)
worthy advisor wants you to have comprehensive advice. BY HOWARD
Trustworthy advisors give you information the way you need it. WOLKOWITZ In our next article, we’ll examine financial plaque-
A trustworthy advisor will look at the relationship, not just the how a build-up of poor financial decisions
transaction, and will be less prone to potential conflicts of interest. over a period of time can affect your financial portfolio.
So how can you tell if your advisors are there for you first?
• They act with prudence, care, and good judgement at all times. For more information contact Howard Wolkowitz, Financial Advisor & Author, The
•They provide understandable, full and fair disclosure of important facts. Health of Your Wealth, at HWolkowitz@FinancialGuide.com or (954) 625-1517.
• They provide full disclosure up-front of any potential conflicts, including any
potential benefits a transaction may bring to them The opinions above belong to Howard Wolkowitz and the information contained
• They are empathetic, confident, competent and concise. herein does not necessarily represent the opinions of MassMutual or its affiliated
• They are always sitting on “your side of the table.” broker-dealer MSI Financial Services, Inc.
Securities and investment advisory services offered through MSI Financial Services, Inc., to be
• They see you as a long-term relationship, not just as a sale. merged with and known as MML Investors Services, LLC in March 2017, subject to regulatory approval.
In addition to being trustworthy, the qualifications and designations of your Members SIPC®. Branch address: 2400 E Commercial Blvd., 11th Floor, Fort Lauderdale, FL 33308.
financial advisor are also critical. We think of advisors as experts in a particular L0317492597[exp1217][AK,AL,AR,AZ,CA,CO,CT,DE,FL,GA,HI,IA,ID,IL,IN,KS,KY,LA,MA,MD,ME,M
field. Do some research on a prospective advisor’s title or professional certification. I,MN,MO,MS,MT,NC,ND,NE,NH,NJ,NM,NV,NY,OH,OK,OR,PA,RI,SC,SD,TN,TX,UT,VA,VT,WA,WI,W
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6 May 2017 southfloridahospitalnews.com South Florida Hospital News