How much "wealth" do you need in order to have a financial advisor?
Question:
Answer:
It depends. A good financial advisor will probably try to insure you have no significant consumer debt before helping you invest money (If you're paying 15-20% on a $1,000 balance, you'll still be losing ground financially even on an investment of an equivalent amount earning a steady 14%, which is itself unlikely.) So if your investable assets don't exceed your liabilities, you should be able to find someone to represent you, particularly an independent FA. Look for someone with a CFA certification, and preferably via referral from someone you know.
500 bucks at Scottrade.
i am studying to be a Financial Advisor right now, and it all depends on your advisor. Some have a set amount as mentioned and some will advise anyone willing to pay them for the service.
also depends on what you are looking for advise in.
Example, a company, retirement, or investing.
Granted, every financial advisor will have a target client, but most will work with you regardless of your situation; and many will do so at no cost.
F advisors are either fix fee paid or percentage paid. The fixed fee tend to be less likely to push you to make investments that earn them a commission. As a rule your costs of advice should be equal to or less than the yearly earnings of your portfolio and not exceed over 2% of the total portfolio on a one time basis. I would prefer to pay no adviser fees. You can do that by use of a good fund family such as Vanguard Funds. As a rule, I will NOT take a paying client unless they have portfolios worth 100K or more. Less than that amount, use an index fund such as VIT (total stock market fund is an ETF) and maybe some GMNA funds. The allocation between the two kinds of investments should be your age subtracted from 100. Example 100 - 30 yr age = 70. Buy 70% VTI and 30% bond funds. The funds have advisers who will make suggestions, as good or better than this quick answer. Good luck stay invested and have confidence.
$2,000.00 USD.
Ny self I got fifteen Millon so I,m going to Vest Vest Vest I would the same
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