123ArticleOnline Logo
Welcome to 123ArticleOnline.com!

ALL >> Insurance >> View Article

How To Select The Best Financial Advisor?

By Author: Unknown Member
Total Articles: 23

If you are looking for a financial advisor in Richmond, it isn’t a hard task to accomplish. However, what could be challenging is finding the right one to meet your particular needs and situation. In order to choose the best financial advisor in Richmond, you need to consider the following points and tips:

Know when to get a financial advisor – Financial advisors don’t make money unless their clients do, so they prefer working with someone that has the potential to make money. So, if you are working paycheck to paycheck, it is probably not the time to get one, as they usually get a percentage of what you earn from their help or in some cases they work on a flat fee.

Choose between fiduciary or suitability -- There are two types of possible agreements for financial advisors, fiduciary or suitability.

Fiduciary advisors must legally give advice that fits their client’s needs. Normally, they get paid a quarterly fee that is a percentage of the assets they manage for the client.

Suitability advisers legally must ensure the client’s investments are suitable, but aren’t required to make them the best option. They work on commission, based on a percentage of the client’s assets.

Look for a certified financial planner or CFP – If a financial advisor is certified, it is a signal of their credibility, but it doesn’t guarantee it. Besides certification, you should get recommendations and look for a financial advisor that deals with people in your situation or stage of life. You can also check with the National Association of Richmond Financial In Advisor or the Garrett Planning Network to help you to find a good one.

Run a background check on your choice – Once you have a name or two to consider, then it’s time for a background check. Make sure they haven’t been connected to a crime, or been under investigation by any regulatory body or investment industry group. Also, be sure to get references that you can personally check.

Before doing personal tax planning in Richmond, make sure their credentials are good -- Another thing that is vital to do is to ensure that the financial planner’s credentials are in order, current and valid.

Beware of advisors who brag or make guarantees – Also watch out for any advisor who makes a lot of guarantees or promises of how the market will perform or that they can beat the market. No one is capable of doing this and you should walk away fast if you hear that sort of talk from any personal advisor doing personal tax planning in Richmond or anywhere else.

The bottom line is that if you need a financial planner, then you have to choose the one that is best suited to your needs and to your stage of life and make sure they are certified, honest and have the right credentials.

Total Views: 123Word Count: 511See All articles From Author

Insurance Articles

1. Should You Buy Used Cars Greensboro Nc
Author: sylvan

2. Advantages Of North Carolina State Credit Union
Author: sylvan

3. Why Join North Carolina Credit Union
Author: sylvan

4. The Mortgage Adviser North London Can Help You Find The Best Deals Within No Time
Author: darvinjarel

5. Vital Factors To Consider When Selecting Best Health Insurance For Foreigners
Author: Alzbeta berka

6. Reasons To Contact Public Insurance Adjusters In Philadelphia For Help
Author: Donna

7. Why Is It Advisable To Avail A Critical Illness Insurance
Author: ETLI

8. 5 Reasons Why Ulips Are One Of The Best Tax-saving Instruments
Author: Edelweiss Tokio

9. How A Home Insurance Broker Can Save You Money
Author: Jason Davis

10. Travel Insurance Options For Traveling Abroad
Author: Alexander Noah

11. Life Insurance Brokers London Can Help You Find Best Policy That Offer Complete Financial Protection
Author: darvinjarel

12. How To Select The Best Financial Advisor
Author: kevin ben

13. Choose A Good Financial Advisor
Author: William James

14. How To Get Cheap Auto Insurance In Calgary
Author: Jason Davis

15. How To Reduce The Cost Of Auto Insurance
Author: Jason Davis

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: