As the co-managing partner at Hauser Private Equity, Mark Hauser has had to make big choices to help fuel the growth and goals of his clients. An expert with decades of industry experience on the financial side of the field, Mark Hauser leads a team at his hybrid private equity fund management firm based out of the Los Angeles area.
Helping clients to achieve their dreams has long been Hauser’s mission in life, and with that in mind, he has decided to give tips to those looking for support.
Looking inward, Hauser underscored the role of a financial advisor, its different specialties, and how to ensure the right match for your needs.
The Role of a Financial Advisor
A financial advisor advises a client on, well, finances. Financial advisors offer a range of services that could be narrow in scope or broad in application. No matter what field an advisor comes from, they’ll likely provide targeted services in the following areas.
Debt Management Program – Clients who are struggling with debt will work with a financial advisor to craft a strategy to tackle their bills. The advisor educates the client while reinforcing the importance of discipline.
Insurance – Selecting the right insurance plan requires pinpointing the exact policies, coverage gaps, and potential liabilities that a current plan might possess. If the advisor is not licensed for insurance, then the client will need to purchase through an agent of their choice.
Investments – Making strategic investment choices requires the knowledge of an advisor as well as their firm guidance and discipline. Advisors help clients decide when to enter and exit investments.
Retirement / Estate Planning – Some firms specialize in offering advice with regard to planning for retirement, executing their estate plan, and preparing for all that entails.
Tax Planning – Financial advisors are not always entirely educated on tax laws. As a result, Mark Hauser of Hauser Private Equity advises working with a Certified Public Accountant.
How to Select a Financial Advisor
Selecting the right financial advisor comes down to a few different concepts. Mark Hauser understands that it can be difficult to trust someone with your finances, but a rigorous approach to the hiring process can assuage some questions.
- Verifying Credentials – Verify the resume and credentials of any potential financial advisor that you are planning to hire.
- Compensation Methods – Find out how your financial advisor receives compensation for their work.
- Empathic Advice – Finances are not just finances, they are an exemplification of your life. Find an advisor who can show empathy where appropriate.
- Clear Guidance – Finances can be difficult and confusing, not to mention stressful. Mark Hauser advocates for financial advisors that are respectful and clear in their advice.
Finding the right financial advisor can go a long way toward removing the stress and anxiety that comes from financial planning. Mark Hauser has enjoyed a diverse career featuring targeted investments such as the Cincinnati Sports Mall and the penthouse office spaces in the Kenwood Collection Tower.
