Re: Choosing a financial advisor?
[ QUOTE ]
What criteria should a begining investor use in choosing a financial advisor (say $25,000 to invest)?
[/ QUOTE ]
Fees.
* If you're paying anything more than about 1.5% (in your case, $375) annually--in commissions or wrap fees or whatever--that's too much. And less is better.
* Ask the guy what his five favorite mutual funds are. If at least two of them have loads and/or 12b1 fees, run away screaming.
* Ask the guy if he thinks a variable annuity might be right for you. If he says anything other than, "Heck, no," run away screaming.
-web
|