If you’re not an expert in money matters, hiring a financial adviser to manage your money life can be a tough decision. It’s almost impossible to know every financial arena well, because they can be so specialized. Estate planning is completely different from picking the right investments, for example. Managing a portfolio is different from crafting a monthly budget.
Choosing to work with a financial planner is one of the biggest decisions many will face. The hard part is knowing what to look for in an advisor and firm.
Fee-only financial planners come with certain advantages and disadvantages that investors should consider.
Financial planning, passive income and investing: The three ways millionaires build their net worth.
“Ultimately, you need to feel confident in the advisor’s competency, objectivity, and responsiveness to your needs,” says Van Sant. “The advisor-client relationship, like many relationships, is built on trust and communication, so doing the proper due diligence in choosing an advisor should provide long-term benefits and peace of mind for all parties.”
…..Such advisors often call themselves “fee based,” hoping you’ll confuse them with “fee only” planners. Fee-only planners are compensated only by the fees you pay; they don’t accept commissions or other compensation that could influence their advice.
This guide decodes the wide variety of certifications and services—along with a checklist of what to ask before you choose
….Then I notice the incongruency because in almost every case, the ads are being run by companies that sell financial products or are owned by huge insurance companies…..
