Finding a financial advisor is no problem. The problem is finding a reliable and competent advisor. Ben Pure advises that while choosing an advisor, know your finances and expectations, and meet several advisors before choosing one.
Do you need an advisor?
If you live from paycheck to paycheck, you can do without a financial advisor. Face the truth. Advisors are professionals who mean business. They are here to make money from clients who have money. They don’t do community service. So, if you can afford to save just $50 dollars a month, you hardly need financial planning.
According to an expert at Resource Consulting Group located in Orlando, Fla, you must think of hiring a financial advisor or planner when you have a stable income and can save at least 20 percent of your annual income.
However, that doesn’t mean that those saving less money cannot get financial advice. There are several reputable financial firms, online and otherwise, who are dedicated to providing excellent assistance to people. They help you plan your finances, give you tips to save more, and assist you in bringing your financial life on smooth tracks.
What kind of advisor do you need?
There are financial planners, insurance agents, accountants, and financial attorney. Depending on your financial status, you may need all of them or a few of them or just an advisor.
You should ensure that your advisor’s services and expertise meet your financial needs, says Ben Pure. Many times, a financial expert may offer guidance in money planning, along with tax advice and preparation, insurance analysis, retirement planning, estate planning, and investment management.
Before hiring an advisor, clarify his or her services. Moreover, ask whether he or she will co-ordinate with other experts in case you require additional services with regards to finance.
In case your advisor prepares performance reports, check whether it complies with the Global Investment Performance Standards. They regulate how financial experts must calculate and report results of investment.
Don’t let money give you a hard time. Let those dollars work for your happiness. Hire a good financial advisor and live a life of financial bliss. As Benjamin Pure says, earn diligently and save intelligently.