reason, it has always been easier to lose money than it is to make it and keep
your own investments can be done successfully, but it is not easy. First, it
requires a time commitment to research and track your investments. Second, it
requires discipline to stick with your strategy through challenging times.
Third, and most difficult, it requires you to remove emotion from your
have shown that most investors would be better off with the help of a financial
adviser. Unfortunately, finding the “right” adviser is difficult. Most
investors hire someone they “trust”. However, “trust” is very intangible and
difficult to quantify. Also, the size of the firm or familiarity of the brand
name does not indicate the quality of the advice provided.
sure you don’t get stuck with a salesperson when you are really looking for an
adviser, make sure you ask these four questions:
Fiduciary advisers have a legal obligation to put your
interests ahead of their own. A minority
of all financial advisers actually meet the fiduciary requirement.
How many years have they been managing money? Ideally, your
adviser has experience investing in both good markets and bad markets. In the
final analysis, you are paying an adviser for their experience.
advisers will be able to show you a clear report of what they’ve done for their
clients over the years. Any adviser who refuses to show you their past performance
should be crossed off your list.
of interest? By
working only with advisers who are paid through management fees and not
commissions you can make sure their interests are aligned with yours.You
should never own a product with a surrender charge.
money than it is to make money. Implementing these tips will help you find a