Are you looking for great investment advice? Here Is what you need to know.is your prospective investment advisor in the day to day business of actually making money? If that not the case the advice you get will probably not be very helpful and could get you in trouble.
After all, the investors come in many flavors: Insurance salesman, financial planners, stock brokers and so on. They offer advice from real estate investing to estate planning. That’s the reason why, if you are truly seeking investmentadvice, you need to find someone who actually understands how to make money by investing something.
The investment adviser should not be your relative, and you definitely should not bae your investment strategies on a tip from a friend. Instead find someone who is well properly credentialed, well educated in financial matters and most importantly works on a fee only basis. This is because an advisor’s income is directly from giving you advice that benefits you, not advice that benefits them only.
An advisor who works on a fee only basis will have primary objectives not to lose portions of your portfolio and to take the least amount of risk for a required rate of return. Believe it or not if you work with a registered investment advisor, he/she will have a fiduciary responsibility to you.
Most advisors work for a commission. That means that they will always have their eye on how much money they will earn and this will create a built –in conflicts of interest.it is always up to you to investigate, find and understand how your prospective advisor works. Specifically, how are they going to manage your money. If in case, you have invested for any length of time, you already know the difference between stocks, bonds annuities and mutual funds. But what you might not know is which types of investments are truly best for your particular circumstances. So let’s recap on great investment advice and as them their investment advisor’s philosophy.