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 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. This should be the standard maintained by financial advisors and they should not violate it. This assures ethical decision making across the industry. A financial advisor that bills upfront is prevented from making poor investment choices. If a financial advisor is only after commission then his need to earn can result in poor investment choices. You get terribly confused when your investments backfire.
If the personal financial advisor is associated with an industry research firm, then he will be a good one to work with. The financial advisor should analyze industry information regularly. Better opportunities will then be given to his clients. Financial advisors should listen to their clients so they know the opportunities that will work best on a personal level.
Consider a financial adviser who is a member of a known association and someone who has a good reputation. If he is affiliated with a known association, they you can know his ethics and personality. Being a member of the National Association of Personal Financial Advisors would indicate that he is one with those who exhibits the highest level of professionalism for fee-only providers.
Most people approaching retirement or those will specific financial objects usually are not able to make good financial decisions for themselves. 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.
Thomas Batterman, the founder of the firm, is someone who can best represent the financial interest of his clients. 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.