Who can you trust to give you good, solid financial advice? And then with this economy, how do you know who you can trust to watch out for your best interests?
Our current economic strife may have derailed your trust in financial advice and advisors themselves.
Can you trust your co-workers, neighbors or relatives, who are in the same position as you are and may have also lost half the value of their portfolios due to the economy? Maybe. But you really need absolute trust in whomever is advising you on saving and investing. At least one of the reasons you are working, investing and saving is so that someday you can retire. You may be spending just as much time in retirement as you are in your working life. So with that in mind, you better make sure that you completely trust your advisors.
To find an advisor whom you trust you should interview that advisor for the job of being your advisor. To build up trust that interview process should include analyzing their accountability and integrity. Make sure they do what they say they will do. Test them on this. Ask them questions, ask for references, talk to their employees.