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Three Common Misconceptions About DEALING WITH An Investment Advisor
Investing can be quite a complex affair, especially if you are not a specialist in the field. However with thousands of people making their first investments every year, it is no longer a field reserved for the seasoned professionals. However investments certainly are a very risky business and could potentially be even riskier with out a full understanding of the process and its implications. Because of this , many people choose to consult the expert knowledge of an unbiased investment advisor or broker in the initial stages.

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

1. The advisor takes control of money and all decisions

A good independent investment advisor will seek to gain a good understanding of your financial situation and in addition your financial goals. They're likely to think about the four Ws to carry out this: why you want to to invest, what you are hoping regarding the money, where you are looking to invest (when you have any idea) and also once you would like/hope to use the money.

By gathering these facts and gaining a complete picture, they will be able to advise and make recommendations accordingly. An independent investment advisor is not there to manage your money but instead to utilize their expertise to provide guidance to help you choose way which best suits your circumstances and aspirations. They will also discuss the chance factor plus 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 the help of an unbiased investment advisor may help to offer guidance on several factors. Long Island Portfolio Management can advise you on what to purchase, whether to buy stocks or funds, investing for income or retirement, potential rates of return and also taxable costs of one's investments.

2. Only beginners need investment advice

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

Also investors who have been lucky enough to make profits on their first investments often end up attempting to grow it further and therefore look to spend money on different ways which an investment advisor could offer guidance on.

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

3. EASILY use an investment advisor, I counteract a number of the risk of investing

Sadly this is simply not true. Even probably the most seasoned experts in the field could not deny that investing carries great deal of risks and often individuals who have made the best profits took serious risks along the way. An unbiased investment advisor may help on choosing the best investment suitable for your attitude to risk, however they cannot the risk of any particular investment away.

Investments can be a good way of growing your money but profit is not guaranteed and is frequently based on things that are out of your control such as currency markets movements. Therefore you need to always be aware that you could lose all of the money that you invest and become left to manage the consequences.
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