When it comes to financial management, investors need to be discerning and careful about the broker they choose to work with. Successful investing requires looking at the financial markets from various perspectives and carefully managing different types of investments to build a strong portfolio. This calls for a trusted broker with the client's best interests at heart.

However, sometimes it can be challenging to find this type of expertise. Leading Portland financial professional, Wayne von Borstel, has some advice about evaluating different brokers and selecting the best one.

What Oregon investors need to know about finding the right broker

When people start looking for a broker to help them with their investments and financial planning, it is critical to find a broker who genuinely wants to help the investor succeed. However, it can be challenging to find a broker who places the client first instead of just paying lip service to the idea. After all, brokers are compensated for the financial advice they offer, and many might be motivated by profit first and helping clients second. There are a few areas interested investors can investigate to help them find a broker that will work for them.

Look at the importance placed on education.

Successful financial planning requires considerable insight into how financial markets work, how the different investments work, and how to balance a portfolio. However, it is optional for brokers to secure various advanced degrees and certifications.

 Brokers can make money without it.

However, looking for brokers that emphasize education similarly can help clients identify the ones who genuinely want to improve themselves. As Mr. von Borstel notes, earning these certifications helps him build his broad knowledge of investments and financial planning to help clients with various goals. Instead of trying to herd clients towards a particular outcome, he can meet them where they are and work towards what they want to achieve with their money. A broker will likely encounter ten different financial situations and goals in a room with just ten other people. Those who prioritize education show their interest in helping each client.

Value flexibility and investment freedom

A second criterion to look for in a broker is flexibility and investment freedom. Many people in the industry treat clients like a herd of cows. They have a specific product they want to sell or a particular way to structure a portfolio that doesn't reflect the freedom and flexibility clients need to achieve their personal goals. Only some clients want the same products or treatment. Many investment professionals need more education to appropriately guide clients who do not fit their predetermined mold.

Look for a broker that offers clients ample financial freedom. This will often come from self-employed brokers, as they will be unrestricted by the rules and guidelines from elsewhere in their large organization, which force their investment protocols in a particular way. On the other hand, self-employed brokers have the flexibility to advise their clients as they see fit. The broker should offer advice based on the client's needs and not have an interest in convincing someone to invest in a particular area or binding them by specific rules.

A relationship of trust

Trust is one of the most critical factors clients should look for in an investor. When clients ask someone else to help them manage their money, that relationship calls for considerable faith that the broker will look out for the client. In addition, it requires trusting the broker with retirement and financial goals. Therefore, investors should be particularly selective with their potential brokers until they find someone they can have a relationship with based on this trust.

If a client does not trust their broker, it will hinder the entire investment process. Clients need this certainty in their broker's values to second guess their broker's recommendations and feel reluctant to act quickly. When the client feels the broker has their best interest at heart, it becomes easier to act immediately on their advice and make the optimal financial decisions.

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Finding the best broker

The basis of investing successfully with a broker revolves around the relationship between the broker and the client. Finding a broker who will place the client's needs first and work to help the client achieve their financial goals is a valuable partner that can make all the difference in financial planning.

Investors should look for a broker with an investment strategy focused on helping individual clients plan for the future. These brokers work in firms that focus on the individual's experience instead of herding them toward a specific point. This setup will give investors the best chance to find an investment relationship that is right for them.

From Portland, Oregon, and across the country, those interested in finding a broker to help them achieve their financial goals should take these tips from Wayne von Borstel and use them to begin their financial journey. More financial advice can be found on Wayne von Borstel's Youtube channel.

About Wayne von Borstel

Wayne von Borstel is the president and founder of von Borstel & Associates, an investment company in Portland, Oregon. His success in financial planning and management started back as a teenager when he first became interested in investments. Since then, he has built an industry-leading career and business, helping people learn how to manage their money better.

Wayne von Borstel carries a number of important professional designations, including being a Chartered Life Underwriter, a Chartered Financial Consultant, and a Certified Financial Planner/ CFP Practitioner.

Mr. von Borstel works to bring financial knowledge to others in the Portland area by teaching classes and looking for opportunities to educate anyone interested in achieving more with their investments. His interest in education has even led him to fund schools in various parts of the world for underprivileged children.

With this drive towards helping people inform themselves and make the best possible decisions with their money, Wayne von Borstel wanted to break down precisely what investors should look for in a broker they can trust with their financial planning.