How do I choose a financial advisor?
Question:
Answer:
Everybody wants to make money off your hard work. Try doing it yourself. First thing is to pay yourself first. Try to put aside 10 percent of your wages. After that, pay the rest of your bills. Read up on things like mutual funds and other investment vehicles and make your own decision.
Remember that your investment goals like risk and capital preservation will change over time. So don't be afraid to adjust. Try not to change your goal more then once a year.
choose a fee only advisor. You don't want one that makes money by selling you crap investments. Couldn't hurt to ask for references too.
go to you rlocal financial institution and see if they have one
I am a Chartered Financial Consultant (ChFC) which was acquired through coursework, exams, and work experience. In obtaining a ChFC designation, I am required to adhere to strict ethical standards in order to maintain my designation. The only other certification that is more respected in the financial services industry is the CFP (Certified Financial Planner). This certification also requires work experience as well as completion of an educational component (which is the same as ChFC) and exam.
Look for someone in your area that has either of these designations and you will know they have your best interests in mind.
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