Question

Candace has just landed her first job and has the long-term goal to one day buy a house. She needs help investing some of her money so that one day she can reach that goal. Candace begins to look for a financial advisor who can help her pick where to put her money so that it is safe and will grow. Name two qualities that Candace should look for as she chooses her financial advisor and state why those qualities are important.

A) Trustworthiness and Experience: Candace should look for a financial advisor who is trustworthy and has experience in the field. Trustworthiness is important to ensure her money is handled ethically, while experience demonstrates the advisor's knowledge in making sound investment decisions.
B) Cost-Efficiency and Availability: Candace should seek a financial advisor who offers cost-efficient services to maximize her returns and is available to provide guidance and updates when needed.
C) Creativity and Risk-Tolerance: Candace should consider advisors who can think creatively to optimize her investments and assess her risk tolerance to make appropriate investment choices.
D) Friendliness and Popularity: Candace might prefer a friendly advisor who can explain things clearly, and popularity can indicate a successful track record.

Answer 1

Candace should look for trustworthiness and experience in a financial advisor. Trustworthiness ensures ethical handling of her investments, while experience indicates proficiency in making investment decisions for long-term growth.

Step-by-step explanation:

Candace, who has just landed her first job and aims to buy a house in the future, should consider the following two qualities to choose a financial advisor: trustworthiness and experience. Trustworthiness is critical because Candace needs to feel confident that her money is being handled ethically and responsibly. A trustworthy financial advisor will prioritize her interests above all else. Experience is equally important as it symbolizes the advisor's proficiency in making investment decisions that will help Candace's savings grow over time. This includes understanding how to balance risk with potential returns and having a track record of helping clients achieve their long-term financial goals.