If you want help to manage your own wealth, then it would be beneficial for you to hire a personal financial advisor. There are two types of financial advisors according to how they charge fees; one charge fees by commission, and the other charges fees upfront for his services and between the two your should choose the one that charges fees 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.
When a financial advisor charges you upfront he is making money by billing your directly. This is the standard for reputable financial advisors that should not be violated. When this is followed, then you are assured that the decisions of your financial adviser are ethical decisions. 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. And sometimes, these investments backfire and you can get really confused.
If the personal financial advisor is associated with an industry research firm, then he will be a good one to work with. With a good financial advisor, there is a regular analysis of industry information. 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. 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. And if you have to do it correctly, then you need to spend time to make proper research so that you can make an informed decision. To make things easier for you, you can have your financial situation managed by a reputable personal financial advisory firm. One such firm is Financial Fiduciaries LLC. This firm is a fee-only investment advisory firm which 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.
One of their professionals and founder of the firm is Thomas Batterman, who represents the best financial interests of his clients. If you don’t have the time or expertise to handle your financial concerns, then he can provide you with fee-only financial management services.