Advisers provide a wide range of services, but the success of your collaboration with your adviser largely depends on the level of trust that's built into your relationship. For that reason, you should choose your adviser carefully.
As you interview potential advisers, ask them to explain how the investments they would recommend will help you achieve your financial goals. Make sure you understand the answer. The better you grasp their strategy, the better you'll feel about following the advice you're paying for.
When you begin to work with your adviser, remember that taking an active role tends to produce the best results. Be candid and specific about your goals and the assets you've already accumulated. Ask for more explanation of anything you don't understand. Read the financial press, your account statements, annual reports, and written investment advice from your financial adviser. And, keep good records of any letters and paperwork you exchange.
Current records come in handy during tax season when you'll need to report your profit or loss from the sale of an investment to the IRS. And complete records are
essential if any problems develop in your relationship with your adviser.
