Gold Coast financial planner

Questions to Ask Financial Counselors When Looking for One

Personal Finance, Tips and Tricks

financial counselor

Are you drowning in debt? The habit of loaning can’t be easily resolved that some are asking debt counsellors for help. However, according to some people, such debt consultation programs often provide reviews and advice that are biased. The worse thing is that they even ask for expensive fees for their services.

If you are suffering from ballooning debts, you need to look for a counselling agency that offers a debt management program (DMP). This specific program puts you into a repayment plan with your creditors. Also, you need to ask them whether they’ll be requiring a monthly fee for handling your funds or not. However, you will never want to work with providers of DMP as there will be a conflict of interest.

The question is which companies should you trust now that agencies that offer DMP are already out of the choices? Before you settle on a financial counselor or a Gold Coast financial planner, here are things you need to ask them.

How much are the fees?

Before you make a deal with financial counselors, you need to ask them about their fees and whether they have monthly fees or if there are any setups required. For any pricing, have it in a written piece.

Will there be any formal written agreement?

If you are provided with a contract, make sure to read it first before signing. Make verbal promises in written form.

Are your services affordable?

If a company says that they can’t help you, find a better company that can cater to your needs.

Do you have a licence?

Depending on which state you live in, make sure that they have an operating licence.

What are your qualifications for the job?

Look for accreditation and identify who provided it. You can also ask for things like how counsellors are trained; it’s best if it’s from a non-affiliated party.

How do you protect private information?

Details like address, phone number, and monetary information must be kept private at all times. Make sure that your financial counselor has laid out a privacy policy.

Can you elaborate on your existing company system?

You must be informed of their cash flow. Ask them about their methods of rewarding their employees. Know if they pay them more once you sign up for more programs or pay the company more.

If you want to learn more about financial counsellors or a Gold Coast financial planner, contact today!

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