Guide to Hiring a Personal Financial Advisor
Hiring a personal financial advisor is the best way that you can manage your wealth properly. One caution in hiring a personal financial advisor is that you should choose someone who charges fees upfront and not someone who receives payment on a commission basis. If you want your interests to be consistently protected then you should choose the financial advisor that charges upfront fees and not commissions.
If a financial advisor charges you upfront, then the way he is making money is by billing his clients directly. Financial advisors should not violate this standard. This assures ethical decision making across the industry. When a financial advisor bills you in a straight forward manner, then is he can prevent poor investment choices. If you financial advisor is only after commission, then he can be offering you poor investment choices. Your investments can backfire because the commission based financial advisor was only thinking of his earnings and was not aware of his poor investment choice.
If the personal financial advisor is associated with an industry research firm, then he will be a good one to work with. Industry information will be analyzed regularly by a good financial advisor. With his research, he can give his clients better investment opportunities. Listening to the needs of the client will better help financial advisors to know what opportunities will work best for them.
Professional affiliations and a good reputation should be looked for a in a potential financial advisor. If he is affiliated with a known association, they you can know his ethics and personality. The National Association of Personal Financial Advisors (NAPFA) has members that are professional fee-only providers and if the personal advisor belongs to this association, then you can be sure that he is a reliable one.
It is quite complex to make financial decisions for yourself in you have specific financial objectives or if you are approaching retirement. If you want to make an informed decision on your finances, then you should spend time in doing proper research. If you contact a reputable personal financial advisory firm, then you don’t have to go through all the researching and stuff but they will make things easier for you. Financial Fiduciaries LLC is a firm that can help you in your finances. This firm is a fee-only investment advisory firm that is a member of the NAPFA. They offer planning and investment services to individuals. These financial advisory firms can help you in your financial decision making by doing the research for you and checking out investment opportunities.
The founder of this firm is Thomas Batterman who is also one of the financial advisors who helps his clients with their financial interests. He provides fee-only financial management services and manages investment and financial affairs of individuals who don’t have the time or expertise to do it for themselves.