Fiji Island Financial Monetary Authority
The advisor must have 3 up to date certificates on hand.
Some advisors are able to offer advice from the entire market and others have an additional level of licensing, which allows for restricted advice, which only pertains to certain individual. You advisor must explain to you in depth what segments of the financial market he deals with and what is right for you.
Understanding exactly how you will be charged is the primary right of any client. The advisor has an obligation to mention any charges and fees that come with his service during the first contact. The advisor can demand payment as either one of fee or take a percentage of the total invested sum; this percentage may be no more than 10%. This fee can either be paid in advance or in a set of payments in accordance with the will of the advisor.
It is important for you to understand how your advisor will go about making his/her assessment so that you can receive proper financial advice.
Make sure that your advisor explains what risk profile you are in and how he/she will use that information to suggest trading instruments or product.
It is important to ask how your advisor plans on advising you. Will you receive emails, phone calls or face to face meetings? Sometimes an advisor will offer you multiple advice paths and it is important.
You must find out if the initial payment is for a single incident of advice or if it includes a package of ongoing advice. If it does not, find out how much future sessions will cost.
Ask your advisor how often you should review your trading instruments and reassess options.
Find out who will manage the funds. In the event your advisor is working for a company find out the procedure for if he/she leaves.
