Investments in Colusa are designed to help you protect and grow your wealth, and your financial advisor plays a large role in whether or not you achieve this goal. When the time comes to select someone to work with in regards to your Investments, certain questions need to be asked. With the answers to these questions, you’ll find the decision on which professional to work with becomes easier to make.
1. Have you registered as an advisor? The answer to this question should be yes, as this shows the professional’s commitment to protecting your interests. The advisor may state that he or she is a fiduciary, and this is what you need to be searching for.
2. What fees do you charge? Some advisors charge a flat rate or work on an hourly basis. Others opt to charge you a percentage of the portfolio value, and you may hear this referred to as assets under management. The third option some advisors use is a commission based structure.
3. What approach do you use when it comes to financial planning? Your goal here is to find out if the planner only offers advice on certain topics or if they take a general approach to financial planning. In addition, you want to know what level of risk they are comfortable with and whether you feel comfortable with this level.
4. What are your preferred methods of communication? You need to know who will be your primary contact in the advisor’s office. You also need to know how often you will receive reports or documents from them and how they wish to stay in touch with you. Do they prefer written, verbal, or in-person interactions?
5. Who houses the account, and do you have a financial interest in that company? This is where Bernie Madoff managed to take advantage of many investors. You want to ensure the financial advisor doesn’t have direct custody of your accounts, as this provides you with an additional level of security.
You must protect your Investments in Colusa. Many individuals state they will do this for you only to work to increase their own bottom line. Care must be taken when it comes to your money, thus take the time to speak to a number of financial advisors before you make your choice.
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