Hire a Personal Financial Advisor to Manage Your Wealth
It will be for your own benefit if you hire a personal financial advisor to help your manage your own wealth. One caution in hiring a personal financial advisor is that you should choose someone who charges fees upfront and not someone who receives payment on a commission basis. If you want to be sure that only your interests are in his mind, then don’t choose the commission based advisor but the one who charges your with his service fees upfront.
If a financial advisor charges you upfront, then the way he is making money is by billing his clients directly. This is the standard for reputable financial advisors that should not be violated. This will ensure ethical decision making among personal financial advisors. When a financial advisor bills you in a straight forward manner, then is he can prevent poor investment choices. You will be offered poor investment choices by a financial advisor who is only after commission satisfying his need to earn. And sometimes, these investments backfire and you can get really confused.
If you want to increase your wealth, then you should work with a personal financial advisor who is affiliated with an industry research firm for industry information. The financial advisor should analyze industry information regularly. Better opportunities will then be given to his clients. Listening to the needs of the client will better help financial advisors to know what opportunities will work best for them.
Professional affiliations and a good reputation should be looked for a in a potential financial advisor. This will give you a glimpse of his ethics and personality. Being a member of the National Association of Personal Financial Advisors would indicate that he is one with those who exhibits the highest level of professionalism for fee-only providers.
It is quite complex to make financial decisions for yourself in you have specific financial objectives or if you are approaching retirement. It is only in doing proper research can you really make an informed decision. To make things easier for you, you can have your financial situation managed by a reputable personal financial advisory firm. If you need help from a firm, you can seek advice from Financial Fiduciaries LLC. This firm is a fee-only investment advisory firm that is a member of the NAPFA. What they offer to individuals are planning and investment services. If you hire such a firm, then they will be the ones to do the research and checking out alternatives for you so that they can help you achieve solutions to your financial challenges.
Thomas Batterman, the founder of the firm, is someone who can best represent the financial interest of his clients. For people who are not able to do financial planning themselves, then Thomas Batterman is there to help you in managing your finances which is a fee-only service.