Veteran Financial Expert Mark Hauser Outlines Keys to Selecting a Financial Advisor

The financial world is as vast and important as it is complicated. Individuals like Mark Hauser, co-managing partner at Hauser Private Equity, have made a career out of guiding clients toward positive outcomes by proactively and positively managing their money. Hauser has enjoyed many decades in the industry after purchasing the predecessor company to his business in 1995.

Now a seasoned and experienced professional, Mark Hauser took some time to help individuals find financial advisors of their own.

Understanding Financial Advisors

Financial advisors are made available in four essential ways, changing depending on how they are compensated. Let’s look at the most common advisors people will encounter, according to Mark Hauser.

Fee-Only Financial Advisors – These advisors receive a fee from their clients for services rendered. This fee may be required via a flat rate, an hourly rate, or even through a percentage of an individual client’s assets. These advisors are considered fiduciaries and are legally bound to act in their client’s best interests.

Commission-Only Financial Advisors – This style of financial advisors will only receive compensation when they sell products or services to their clients. Financial advisors on commission are not fiduciaries and are instead categorized as salespeople for investment firms and insurance brokerages.

Certified Financial Planners – A Certified Financial Planner is someone who has been trained and seasoned with years of industry experience. CFPs have also gone through difficult exams regarding investing, insurance planning, and even real estate.

Registered Investment Advisor – A Registered Investment Advisor offers fiduciary services and financial advice to its clients. An IAR can utilize the ‘financial advisor’ moniker while also utilizing a fee or fee-only compensation system.

Which Financial Advisor Is Right For Me?

As the co-chairman at Hauser Private Equity, Mark Hauser has helped many clients through the process of making savvy and targeted investments. In order to find the right financial advisor, Mark Hauser outlined a few steps that people can take.

Do Your Research

Mark Hauser believes that potential clients should always go through the extra steps to verify their potential advisor’s credits. Confirming credentials with the CFP Board is an easy way to know you are being represented well.

Figure Out Compensation

How is your advisor going to be paid? Confirm the compensation method for a firm before signing on with them. A financial advisor is a fiduciary who is legally bound to act in their client’s best interest.

Seek a Professional With an Education

Financial advisors should remain invested in their education no matter when it is that they get into the field. Advisors who complete ongoing training will stay up-to-date in highly complex fields like real estate and individual tax issues.

Ultimately, Mark Hauser advocates finding a fiduciary advisor who is as empathetic as they are educated. With the right advisor by their side, Hauser believes the everyday investor can find short and long-term success.

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