What are some good ways to locate a financial advisor?
Question:
Answer:
10. Ask a stranger if they can turn $100 into $1,000 overnight.
9. Complain out loud in a NYC bar that your broker just lost you millions.
8. Tell five people that you need a lot of life insurance.
7. Try the Yellow Pages.
6. Attend a free "Financial/Retirement Planning Seminar."
5. Sign up for a free financial plan when you look at a timeshare.
4. Ask the broker next to you at the Country Club locker room.
3. Ask a friend you trust who they use.
2. Ask an accountant for a referral.
And the number one way to locate a financial advisor:
1. Darts.
OK, in all seriousness, locating someone isn't tough. Finding someone who will actually help you while looking out for your interests is another. It takes some good planning.
Try this Yahoo! link for starters:
Most financial advisors are sales people. My advice is: learn to do it yourself.
I don't know if they are good or not as I have not tried them, I just read about this in Money Magazine Oct. 2005. "You can hire a financial planner on an hourly basis by contracting the Garrett Planning Network. Go to garrettplanningnetwork.com or call 866/260-8400."
I would agree most financial advisors are out to make a buck but not all, best thing to do is educate yourself on investing, if your employer offers a 401k start with that, setup a diversified mix of mutual funds stock and bonds depending on age/risk level, and as you get more comfortable perhaps a brokerage account dabbling in other types of investments...I would really recommend sticking to just mutual funds.and steering away from individual stocks and options."Quickest way to make a small fortune is to start with a Large One"..also make sure your not buying loaded mutual funds, that's just extra money you are paying in fees that will reduce your returns, check out Vanguard, Fidelity, and Schwab.these are all discount brokers that offer No Load Mutual Funds.
If you must use an advisor, use only a fee-for-service advisor who takes no commissions from any product. Better still, educate yourself by reading all about efficient markets and how to diversify and maximize return while minimizing risk
More Related Questions & Answers...