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Obtaining the Best Investment Advice - What You Need to Know About Your Investment Advisor
Looking for great investment advice? Some tips about what you must know: Can be your prospective investment advisor in the day to day business of actually earning money? Or even, the advice you obtain will probably not be very useful and could get you in trouble. But that's just the tip of the iceberg. Continue reading for more questions you should ask.

After all, investment advisors can be found in many flavors: insurance salesmen, stock brokers, financial planners, etc. They provide advice from real estate investing to estate planning. This is why why, in case you are truly seeking "Investment" advice, you have to find somebody who actually understands how you can make money by investing.

That someone should not be your relative. And you definitely shouldn't base your investment strategies on a tip from a friend. Instead, find a person who is well educated in financial matters, properly credentialed, and, most of all, works on a fee ONLY basis.

Why fee only? Because either way, an advisor's income is directly linked with their advice. You would like to make sure that they will benefit from providing you advice that benefits you, not advice that benefits them.

An advisor who works on a fee only basis will have the primary objectives never to lose portions of one's portfolio and to take the least quantity of risk for a required rate of return. And contrary to popular belief, if you work with a Registered Investment Advisor (fee only), they could have a fiduciary responsibility for you.

Most other advisors work for a commission. That means, that they will will have their eye on how much commission they will earn, which creates a built-in conflict of interest.

Of course, it is up to you to find, investigate and understand how your prospective advisor works. Specifically, how are they going to manage your money...

In case you have invested for any amount of time, you already know the difference between stocks, bonds, mutual funds and annuities. But everything you might not know is which forms of investments are truly best for your particular circumstances.

And whether Retirement Plan Consultant NYC pay your advisor directly versus whether your advisor earns commissions for your investments will make an enormous difference in what ends up in your portfolio. You should always ask them about their "investment philosophy" i.e., how would they manage your cash?

Fee-only or not, there are numerous of methods to investing money. Many investment advisors have confidence in Modern Portfolio Theory and Asset Allocation. Some are strategic or tactical advisors, while some yet use fundamental or technical analysis.

Yes, that's quite a bit of jargon. I would not be expectant of most people to learn the intricacies of each method. But what you need to know and ask is which kind of system they use.
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