What You Should Look For In a Personal Financial Advisor
Hiring a personal financial advisor is the best way that you can manage your wealth properly. 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. Financial advisors should not violate this standard. When this is followed, then you are assured that the decisions of your financial adviser are ethical decisions. 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.
Choose a financial advisor who works with a firm that researches industry information. The financial advisor should analyze industry information regularly. With his research, he can give his clients better investment opportunities. Financial advisors should listen to their clients so they know the opportunities that will work best on a personal level.
If you are considering a financial advisor, make sure that he has professional affiliations and a good reputation. This will give you a glimpse of his ethics and personality. If your financial advisor is a member of the National Association of Personal Financial Advisors (NAPFA) then this only shows that he is affiliated with an association with the highest level of professionalism for fee-only providers.
If you are someone who has specific financial objectives or your are approaching retirement, making financial decisions for yourself can be complex. It is only in doing proper research can you really 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. Financial Fiduciaries LLC is a firm that can help you in your finances. This firm is a fee-only investment advisory firm which is a member of the NAPFA. You can benefit from their planning and investment services. 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.
The founder of this firm is Thomas Batterman who is also one of the financial advisors who helps his clients with their financial interests. 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.