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.
If a financial advisor charges you upfront, then the way he is making money is by billing his clients directly. 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. You get terribly confused when your investments backfire.
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. Industry information will be analyzed regularly by a good financial advisor. This will give his clients better opportunities. 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. 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.
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. You don’t have to trouble yourself over this; the best solution is to let your financial situation be managed by a 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 that is a member of the NAPFA. 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. 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.