Financial Advisory Services In Virginia - How To Tell If You're Getting Good Advice

By Author: Michael Colliano
Total Articles: 4
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Working with financial advisory services in Virginia can lift a major weight off your shoulders -- as long as you're getting good advice. So, how do you know if the advice your Virginia financial advisor is giving you is worth its salt?

As long as your financial advisor is doing these 4 things, you can feel good about the advice you're getting:

1. Keeping tabs on your specific situation
A good Virginia financial advisor knows that buying and selling depends on each client's specific needs and goals. If you know you've got a big pension to fall back on, you might take more risks. But if you've got three kids to put through college, you can't afford to take many risks.
That's why it's so important that your financial advisor gets to know you. If he has a strong grasp on what your current financial situation looks like, what kind of future obligations you have, and what your ultimate goals are, he can give you much better advice.

2. Setting goals for your portfolio
Even the very best financial advisory services in Virginia can't tell you exactly how much money you're going to make this ...
... month or this year. They don't have a crystal ball!

However, a good Virginia financial advisor will have a specific plan for your money -- including specific goals that your portfolio needs to meet along the way. If your portfolio consistently falls short of its goals, it's time to question the advice your Virginia financial advisor is giving you.

3. Working within your comfort zone
Just because your financial advisor has a plan in place doesn't mean you have to be happy with it. Remember, this is your money, and your financial future depends on the decisions you and your advisor make. If the financial advisory services you're getting are keeping you awake at night, you're not getting good advice. The key is to make your money work for you -- not terrify you!

4. Avoiding guarantees
It's one thing for your Virginia financial advisor to say that he expects a specific company to see big gains this year. It's another thing for him to promise you that the company's stocks are going to triple within six months. What if the company falls victim to some kind of scandal? What if a competitor comes out with a better product and overtakes the market? A million different things could happen between now and then -- and any one of them can affect your portfolio.
That's why the best financial advisory services in Virginia are the ones that are honest. A good Virginia financial advisor will give you his expert opinions, without promising you the moon and the stars.

Michael Del Colliano is Vice President and of Westbourne Investments Inc. Michael is a Virginia financial advisor, licensed Life Insurance Agent, active account portfolio manager, and participates in the day-to-day operations of Westbourne Investments.