#1
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Choosing a financial advisor?
What criteria should a begining investor use in choosing a financial advisor (say $25,000 to invest)?
Thanks |
#2
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Re: Choosing a financial advisor?
Ask this:
Hi Mr. X! If your such a great financial advisor why you do have to go to work everyday? jdoe |
#3
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Re: Choosing a financial advisor?
Why so cynical? A good financial advisor doesn't just do investing, but also estate, tax, and college planning. That said, having interned for two of them last summer, it;s not worth your money unless you are absolutely clueless about investing and really want to have you hand held.
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#4
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Re: Choosing a financial advisor?
yeah their called financial PLANNERS, most financial advisors are brokers. A majority of the financial advisors do not have a CFP.
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#5
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Re: Choosing a financial advisor?
For that level of investment you don't need an FA. Get some books and stick to mutual funds.
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#6
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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 |
#7
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Re: Choosing a financial advisor?
[ QUOTE ]
yeah their called financial PLANNERS, most financial advisors are brokers. A majority of the financial advisors do not have a CFP. [/ QUOTE ] Not many places will hire you without a CFP, also they are soon going to make it a requirement for you to have a CFP in the next 5 years I believe. |
#8
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Re: Choosing a financial advisor?
really? I worked at morgan stanley for a little bit and only a handful of the advisors there had CFP designation
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#9
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Re: Choosing a financial advisor?
Vind,
The first two question you should ask yourself are: 1. Why do you need a financial advisor? 2. What do you hope to get out of the relationship? |
#10
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Re: Choosing a financial advisor?
[ QUOTE ]
Vind, The first two question you should ask yourself are: 1. Why do you need a financial advisor? 2. What do you hope to get out of the relationship? [/ QUOTE ] very good questions. here's another one : 3. do you have enough money to profit from a financial advisor? will you be better off choosing just one fund? |
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