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Three Common Misconceptions About DEALING WITH An Investment Advisor
Investing can be a complex affair, especially if you are not a specialist in the field. However with thousands of people making their first investments each year, it is no more a field reserved for the seasoned professionals. However investments are a very risky business and could potentially be even riskier without a full understanding of the process and its implications. This is the reason many people elect to consult the expert knowledge of an independent investment advisor or broker in the initial stages.

In this article, we will explore three common myths regarding the service provided by investment advisors, offering you accurate and balanced info on the matter.

1. The advisor takes control of money and all decisions

An excellent independent investment advisor will seek to get a good knowledge of your financial situation and in addition your financial goals. They are likely to think about the four Ws in order to do this: why you want to to invest, everything you are hoping regarding the money, where you are looking to invest (should you have any idea) and also when you would like/hope to use the money.

By gathering these facts and gaining a full picture, they'll be able to advise and make recommendations accordingly. An independent investment advisor isn't there to manage your money but rather to utilize their expertise to provide guidance that will help you choose way which best suits your circumstances and aspirations. They'll also discuss the risk factor and they are likely to try to ascertain your tolerance for risk and expected rate of return to become able to make relevant recommendations.

The money will remain yours and any decisions may also be your own however in case you are not really acquainted with investing then seeking assistance from an independent investment advisor may help to offer help with many factors. They can advise you on what to purchase, whether to buy stocks or funds, investing for income or retirement, potential rates of return and in addition taxable costs of your investments.

2. Only beginners need investment advice

In actual fact, many people with existing investments turn to independent investment advisors when they are considering how exactly to progress. With bigger investments come greater risks therefore people often want to be as well-advised as you possibly can.

Also investors who've been lucky enough to create profits on the first investments often find themselves wanting to grow it further and therefore look to invest in various ways which an investment advisor can offer guidance on.

An investment advisor will probably analyse your existing investments and discuss your future investment aspirations in order to help make an idea for going forward.

3. If long island wealth management use an investment advisor, I counteract a few of the risk of investing

Sadly this is not true. Even the most seasoned experts in the field could not deny that investing carries great amount of risks and often people who have made the best profits have taken serious risks on the way. An independent investment advisor may help on finding the right investment suitable for your attitude to risk, however they cannot the risk of any particular investment away.

Investments can be a great way of growing your cash but profit is not guaranteed and is frequently based on things that are from the control such as stock market movements. Therefore you should always bear in mind that you could lose all of the money that you invest and become left to deal with the consequences.
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