Guide to Hiring a Personal Financial Advisor
Hiring a personal financial advisor is the best way that you can manage your wealth properly. 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. 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 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.
Choose a financial advisor who works with a firm that researches 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.
Consider a financial adviser who is a member of a known association and someone who has a good reputation. This will give you a glimpse of his ethics and personality. The National Association of Personal Financial Advisors (NAPFA) has members that are professional fee-only providers and if the personal advisor belongs to this association, then you can be sure that he is a reliable one.
If you are someone who has specific financial objectives or your are approaching retirement, making financial decisions for yourself can be complex. 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. Being a member of the NAPFA, this firm is a fee-only investment advisory firm. They offer planning and investment services to individuals. 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.
Thomas Batterman, the founder of the firm, is someone who can best represent the financial interest 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.