Once you have decided about the type of Islamic financial advisor you want to work with, do you know what questions should you ask him before you decide whether you want to go ahead with him?
Some time ago, we discussed the issue of what to look for in an Islamic financial advisor. Today, we want to talk about another equally important issue before you actually decide which Islamic financial planner is the right fit for you.
Questions To Ask Your Financial Advisor
- How do they get paid by selling their advice?
- Are they fiduciary?
- What are their all-in costs?
- What services do they provide?
- What are their qualifications?
- How will our relationship work?
- How often will we communicate?
- Why did their last two clients stop working with you?
- What happens when we stop working with each other?
- Why did you decide to become a financial advisor?
- Could you speak to some of their former and existing clients?
The answers to the above-mentioned questions may help you determine whether they could be the right for you to manage your wealth. No matter what the final outcome may please do some due diligence to verify their credentials and do some cross-checks as well so that you know whether they are worth working with.
[…] to your religious beliefs. A qualified and experienced advisor will be able to provide guidance and answer questions on sharia-compliant investment options and financial planning strategies. They will also be able to […]