When it comes to investing, trust is crucial. You’re not inclined to give someone control of your life savings if they haven’t proven themselves trustworthy.
When it comes to investment fees, a little knowledge can be very dangerous. I have been running a fee-for-service business for the last fifteen years which has provided me with extensive experience in this area.
When it comes to deciding which financial advisor to work with, consider the advisor’s registration and designations, as they change everything.
Do you have an upcoming meeting with your financial planner?
Regardless if it’s your first meeting or an annual visit with your financial planner, it’s important that you arrive prepared. You should have a general idea of what to keep track of, so that you can make changes to your plan necessary, to better fit your goals. When you arrive prepared with the right questions and documents, you can expect to get the most out of your meeting.
Read on and explore the top five questions that you should ask your financial planner.
What’s the most important trait in a financial advisor? In our opinion, it’s trustworthiness. If you know you can depend on your financial advisor, all the other pieces of your working relationship fall into place.
Discretionary portfolio management is a form of investment management where all investment decisions are made by a Portfolio Manager or Investment Counselor for the client's account. The term "discretionary" refers to the fact that investment decisions are made at the Portfolio Manager's discretion.
When does your Financial Advisor call you? What number on his call list are you? If you are an investor, this is something that you likely haven’t thought about, but should. To understand why this really matters, let’s say you are a client of a Financial Advisor that is not licensed as Portfolio Manager (PM) and thus does not have the ability to service discretionary accounts.
Generally, people appreciate their independence. Having the freedom to make decisions with minimal limitation is important – that’s why we choose to work as an independent financial planning firm.
Imagine setting up a meeting with your financial advisor to discuss your investment portfolio. Imagine that, in this meeting, your advisor hands you documents outlining someone else’s portfolio.
It’s easy to access information nowadays. If we’re looking to purchase a product, we can shop around for the best price, read reviews on product quality, and make decisions based on mass opinion.