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What is a fee only investment advisor's job?
The fee only investment advisor's job is to find investors the best fit for their investment needs. They work with the investor in mind and since they are fee only they do not have the pressure to sell a client on a particular mutual fund, or other investment product, over the other.
Will I be able to speak with an investment advisor at my local Bank of America?
Yes, you can definitely speak with an investment advisor at my local Bank of America. However, you must be a client or you will have to pay a fee.
Is it generally better to have a fee only financial advisor, or a comission based advisor?
I prefer to have a fee only financial advisor. The problem you can get into with a comission based advisor is that they may "churn" your account more than necessary to make money.
What are the best retirement planners in the market today?
Using a fee only investment advisor is a popular choice for today's retirement planners. The client can trust that the fee only planner is working in their best interest and the not the interest of a particular mutual fund.
What is the difference between a Registered Investment Advisor and a Investment Advisor Representative?
A Registered Investment Advisor is the company for which the Registered Investment Advisor Representative (a person) works, except in the case of a sole-proprietor who can be an Investment Advisor.
Find a Trustworthy Investment Advisor?
An investment advisor is responsible for a great portion of one's finances. If you choose the wrong investment advisor, your entire financial situation could be endangered. An investment advisor should be a person you trust and feel comfortable working with. To find a trustworthy investment advisor, there are a few qualities to seek out. One quality that you should seek out is an investment advisor who has a strong educational background. Be sure that an investment advisor has previous experience in working with finances. You should also try to find an investment advisor who has an open communication policy with clients.
What are the advantages of hiring an investment advisor?
An investment advisor gives you advice about securities. Hiring an investment advisor can be the right move for you if you don't know much about the different options available for you.
Where can I find an investment advisor in Colorado?
Denver Investments provides advisory services and is located specifically in Colorado. Another option is Four Seasons Investment Advisors in Western Colorado. Merril Lynch offers investment advisors in Denver. They do charge a fee for their services.
Can an Investment advisor representative charge a fee for managing an investment account?
An investment Advisor Representative must follow the policies of the Registered Investement Advisor (RIA) with which they are affiliated. An RIA's policies should be listed in Form ADV, which is filed with the Securities and Exchange Commission. Form ADV Part II or a summary of this document must be given to all RIA clients, and should clearly disclose whether the RIA charges fees for managing accounts and how those fees are charged.
Should I Hire Investment Advisors to Manage My Wealth?
In this country, many people find difficulty in trusting banks or institutions to manage their wealth. With the rough state of the economy and constant news updates, it seems banks are only out there to take hard-earned money from the wealthy. Some financial firms, however, are not as scrupulous as major banks and do a thorough job in managing wealth of everyone from blue-collar workers to multi-millionaires. To manage your wealth effectively, hiring an investment advisor may be just what you need. Many Americans do not understand what the various duties of an investment advisor are. Some people assume an investment advisor picks winning stocks for one's portfolio and then buys or sells stocks at the direction of a portfolio owner. This is far from the only task that highly skilled investment advisors do on a daily basis. Investment advisors serve clients in so many ways. A person can hire an investment advisor for investing and debt management purposes. Debt management is something investors are usually highly skilled in. An investment advisor may also be able to find high yielding savings accounts and money market funds for the conservative investor. Investment advisors also help many audiences that fall out of the "multi-millionaire" category. There is a perception that only wealth people need investment advisors, but this is far from the truth. College students can receive all sorts of financial planning help from advisors. An investment advisor can teach a college student how to set aside savings for college tuition, as well as create a retirement account during the college years. An investment advisor may even be able to figure out how small amounts of money can be invested for the benefit of a college student. In finding the right investment advisor for one's finances, it is important to clarify what an investment advisor's particular duties will be. One should clearly understand everything an investment advisor will do, before he or she hires the investment advisor. Also, one should understand what the charges are for each particular service performed by an investment advisor. Knowing this will help a person to see whether hiring an investment advisor is within one's own financial budget.
How to Select an Investment Advisor?
Investment advisors provide information to clients regarding securities or other ventures. Investment portfolios containing stocks, mutual funds or bonds are typically managed by investment advisors. Clients selecting a financial investment advisor should determine if the professional is qualified. Most investment advisors must possess certifications and be registered with appropriate organizations to be considered reputable.Some affiliations include:•Registration with the Securities Exchange Commissions (SEC)•Series 7 license•Certification in Financial Planning or a Chartered Financial Advisor (CFA) Certificate•Form ADVRegistration with the SEC is only required if the organization manages $25 million or more in assets. Form ADV establishes the investment advisor’s education and logs negative interactions with clients. The form also indicates the investment advisors fees, services and strategies. Investors seeking to examine an investment advisor’s Form ADV may contact the SEC or the state securities regulator. To verify the CFA, contact the Certified Financial Planning Board.Clients should establish a rapport with the investment advisor prior to entering a relationship. A non-trusting relationship with an investment advisor could lead to financial ruin. Verify the investment advisors credentials and experience. Determine if the investment advisor has ever been sued. Establish credibility by reviewing ethical practices.Ask the investment advisor about their payment scale. Many clients are unaware of the costs involved for securing a financial advisor prior to the entering a relationship. An investment advisor may get paid a flat rate, an hourly fee, commission, or a percentage of the amount of money the client invests. The pay structure will help the client determine the investment advisor’s motivations behind the strategies suggested. This helps the client’s determine if the financial planner’s intentions are in the client’s best interest. Many clients’ prefer an investment advisor that charges a flat fee or a percentage, such as 1.5% to minimize any conflict of interest.Investment advisors are recommended for individuals who need to develop a strategy for growing and maintaining wealth. Experts recommend use of a credible and successful investment advisor.
The Right Investment Advisor?
The right investment advisor is not the guy or girl who had the biggest return last year. Believe it or not, last year's returns have little bearing on how that particular advisor will fare this year. The right investment advisor is the one that understands you and your unique financial situation, and more importantly, one that you understand. If an advisor is used to handling millions at a time, and you only have $100,000, then that is not the investor for you, no matter how good his track record. Your money will be used as an experiment to him. Pick someone who deals with the amounts that you have, as well.
