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Obtaining the Best Investment Advice - What you ought to FIND OUT ABOUT Your Investment Advisor
Looking for great investment advice? Here's what you must know: Is your prospective investment advisor in the day to day business of actually making money? If not, the advice you obtain will probably not be very useful and could allow you to get in trouble. But that's just the end of the iceberg. Read on for more questions you need to ask.

In the end, investment advisors come in many flavors: insurance salesmen, stock brokers, financial planners, etc. They provide advice from property investing to estate planning. That's the reason why, if you are truly seeking "Investment" advice, you must find a person who actually understands making money by investing.

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

Why fee only? Because either way, an advisor's income is directly tied to their advice. You want 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 could have the primary objectives not to lose portions of one's portfolio and to take the least amount of risk for a required rate of return. And contrary to popular belief, if you work with a Registered Investment Advisor (fee only), they will have a fiduciary responsibility for you.

Most other advisors work with a commission. That means, that they will always have their eye on how much commission they will earn, which creates an integral 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...

Should you have invested for any length of time, you know the difference between stocks, bonds, mutual funds and annuities. But what you may not know is which forms of investments are truly best for the particular circumstances.

And whether you pay your advisor directly versus whether your advisor earns commissions for the investments will make a huge difference in what ends up in your portfolio. It is best to inquire further about their "investment philosophy" i.e., how would they manage your cash?

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

Yes, that's a substantial amount of jargon. west palm beach financial advisor would not expect most people to learn the intricacies of each method. But what you have to know and ask is what type of system they use.
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