What You Should Look For In 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. If you are going to hire a personal financial advisor make sure that he is not one who receives payment as a commission but someone who receives payment upfront. 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.
The way that the financial advisor makes money is by billing your directly that is why he chares you upfront. Financial advisors should not violate this standard. This assures ethical decision making across the industry. Poor investment choices can be prevented by a financial advisor who bills you in a straightforward way. 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 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. The financial advisor should analyze industry information regularly. Better opportunities will then be given to his clients. It is important that this financial advisors will know what opportunities will work best for the client on a personal level by listening to what they have to say.
Professional affiliations and a good reputation should be looked for a in a potential financial advisor. His ethics and personality will be shown by his affiliations. 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. If you need help from a firm, you can seek advice from Financial Fiduciaries LLC. This firm is a fee-only investment advisory firm which is a member of the NAPFA. What they offer to individuals are planning and investment services. Their professionals have the knowledge and experience to help you achieve solutions to your financial challenges by doing the research and checking out the alternatives for you.
The founder of this firm is Thomas Batterman who is also one of the financial advisors who helps his clients with their financial interests. For people who are not able to do financial planning themselves, then Thomas Batterman is there to help you in managing your finances which is a fee-only service.