How Do You Hire A Financial Advisor?
If you’re considering engaging a financial advisor, wealth manager, insurance specialist, or stock broker, you’ll need to find out some information first. • Ask about who the person is and exactly what services he or she will provide. • Determine if they are affiliated with a Broker/Dealer. • Broker Dealer affiliates may be more concerned with generating commissions for themselves than doing a good job for you. Fortunately, this is extremely rare. The best way to ensure objectivity is to hire an independent advisor who has no particular company affiliation or sales quotas, or you may wish to hire a Registered Investment Advisor. RIAs are usually paid a percentage of assets under management. While it can be more expensive to pay this way in the long run, some people are more comfortable with this arrangement. Keep in mind, however, that fee-based advisors are not prohibited from selling you products or receiving commissions. In fact, over 70% of all financial plans are implemented direc
