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. This type of advisor would better protect your interests consistently.
The way that the financial advisor makes money is by billing your directly that is why he chares you upfront. Financial advisors should not violate this standard. 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. Your investments can backfire because the commission based financial advisor was only thinking of his earnings and was not aware of his poor investment choice.
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. Better opportunities will then be given to his clients. It is important that this financial advisors will know what opportunities will work best for the client on a personal level by listening to what they have to say.
Consider a financial adviser who is a member of a known association and someone who has a good reputation. If he is affiliated with a known association, they you can know 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. 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 that 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.
The founder of this firm is Thomas Batterman who is also one of the financial advisors who helps his clients with their financial interests. 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.