Guide to Hiring a Personal Financial Advisor
If you want help to manage your own wealth, then it would be beneficial for you to hire a personal financial advisor. 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 to be sure that only your interests are in his mind, then don’t choose the commission based advisor but the one who charges your with his service fees upfront.
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. When this is followed, then you are assured that the decisions of your financial adviser are ethical decisions. A financial advisor that bills upfront is prevented from making poor investment choices. If you financial advisor is only after commission, then he can be offering you poor investment choices. You get terribly confused when your investments backfire.
If you want to increase your wealth, then you should work with a personal financial advisor who is affiliated with an industry research firm for industry information. Industry information will be analyzed regularly by a good financial advisor. Better opportunities will then be given to his clients. Listening to the needs of the client will better help financial advisors to know what opportunities will work best for them.
If you are considering a financial advisor, make sure that he has professional affiliations and a good reputation. If he is affiliated with a known association, they you can know his ethics and personality. If your financial advisor is a member of the National Association of Personal Financial Advisors (NAPFA) then this only shows that he is affiliated with an association with the highest level of professionalism for fee-only providers.
If you are someone who has specific financial objectives or your are approaching retirement, making financial decisions for yourself can be complex. It is only in doing proper research can you really make an informed decision. To make things easier for you, you can have your financial situation managed by a reputable personal financial advisory firm. 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. You can benefit from their planning and investment services. If you hire such a firm, then they will be the ones to do the research and checking out alternatives for you so that they can help you achieve solutions to your financial challenges.
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.
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