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Experience and education makes an expert

Written by: Trev Kernested

Article Overview: There's some tax preparers and financial advisors who should be avoided. Go with the knowledgeable and experienced.

Experience and education makes an expert

There is a new tax return business out there claiming to be better and cheaper. This company was started a couple of years ago and I was briefly involved as a financial consultant. I couldn't continue being a part of an organization that confuses clients and consultants.

They have tax preparers whose training is minimal working in its data center where consultants send your receipts. When the consultant comes to your home or office, they only collect documents. After your return is prepared, the consultant won't review the return with you. Instead they will try to sell you RRSPs, savings plans, or mutual fund portfolios.

The consultants are poorly trained to offer financial advice. They don't make recommendations. Will only say this is the plan that will work best for you. Coincidentally will be the plan of the investment company paying a referral fee.

The consultant or financial advisor may show you a license, but a license doesn't make them qualified financial advisors. I have talked to several of these advisors and they struggle to explain a plan they want you to purchase. They don't fully understand what offering and don't have any alternatives to use for comparison. Only years of experience and education makes an expert.

We all would like to retire some day. In order to plan for that future, it is necessary to trust that the advice getting is impartial and unbiased. Look for someone who demonstrates a knowledgeable background, and can explain each option clearly and thoroughly.

Use a qualified financial advisor for your retirement plan. Stick with an experienced and knowledgeable accounting professional for your accounting and tax needs.

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