In This Chapter
Knowing what services to expect and how much you pay
Hiring someone you can count on
Hundreds of millions of people worldwide have successfully invested in mutual funds on their own. Investing in mutual funds isn't difficult; common sense and an ounce of financial sense are all you need.
You have no compelling reason to hire a financial adviser in order to invest in mutual funds. So if you jumped to this chapter first, stop! I recommend that you march back to the earlier chapters. You'll be better able to understand this chapter after you've read the ones that come before it, not to mention the fact that you'll be improving your ability to save yourself possibly thousands of dollars in financial advisory fees. But if you've arrived here because you just don't want to deal with handling fund-investing or financial-planning decisions on your own, keep on keepin' on.
In your preliminary meetings with a financial adviser, develop a sense and opinion about the person's ability to clearly communicate with you. Take your time and speak with prospective advisers before deciding whom to hire. Don't rush yourself or allow an adviser to pressure you into making a decision before you're ready and comfortable.
Consider these questions: Does he clearly and patiently explain things or use a lot of jargon and talk down to you? Is he forthright and candid or evasive?