Finances: 10 Mistakes that Most People Make

Hire a Personal Financial Advisor to Manage Your Wealth

Hiring a personal financial advisor is the best way that you can manage your wealth properly. 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. This type of advisor would better protect your interests consistently.

When a financial advisor charges you upfront he is making money by billing your directly. This is the standard for reputable financial advisors that should not be violated. When this is followed, then you are assured that the decisions of your financial adviser are ethical decisions. When a financial advisor bills you in a straight forward manner, then is he can prevent poor investment choices. If you financial advisor is only after commission, then he can be offering you poor investment choices. Your investments can backfire because the commission based financial advisor was only thinking of his earnings and was not aware of his poor investment choice.

If the personal financial advisor is associated with an industry research firm, then he will be a good one to work with. 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.

If you are considering a financial advisor, make sure that he has professional affiliations and a good reputation. This will give you a glimpse of his ethics and personality. The National Association of Personal Financial Advisors (NAPFA) has members that are professional fee-only providers and if the personal advisor belongs to this association, then you can be sure that he is a reliable one.

If you are someone who has specific financial objectives or your are approaching retirement, making financial decisions for yourself can be complex. If you want to make an informed decision on your finances, then you should spend time in doing proper research. If you contact a reputable personal financial advisory firm, then you don’t have to go through all the researching and stuff but they will make things easier for you. One such firm is Financial Fiduciaries LLC. This firm is a fee-only investment advisory firm that is a member of the NAPFA. You can benefit from their planning and investment services. Their professionals have the knowledge and experience to help you achieve solutions to your financial challenges by doing the research and checking out the alternatives for you.

Thomas Batterman, the founder of the firm, is someone who can best represent the financial interest of his clients. He provides fee-only financial management services and manages investment and financial affairs of individuals who don’t have the time or expertise to do it for themselves.