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How to Choose the Right Financial Advisor

In order for you to take charge of your finances and household, it’s important to appoint a solid financial advisory team. You may have hired a personal trainer to maintain or improve your physical well-being, so why not hire an independent advisor to work on your financial health?

It’s crucial to find a truly objective and independent financial and insurance consultant. To do this, seek out an advisor that can provide you with a wide range of services and products. You no longer have to simply settle for the ideas or products of one bank or firm. There are advisors out there that can guide and help you choose what is best for you in the investment and insurance universe.

When looking for a qualified financial advisor, your main priority should be to seek out an advisor that can show you ways to improve your profitability and protect your risks.

Did you know that a comprehensive planner or advisor should be reviewing your estate plan, insurance needs, investments, taxes, and retirement funds with you at least annually? Is your advisor or group of advisors doing that for you? Are they offering you alternatives and new ideas, or just relying on the status quo?

Many believe that old Wall Street techniques have failed, as they watched increased volatility erode investor portfolios. Often, these traditional strategies have failed to adopt new techniques and tools, holding to old methods like the buy and hold strategy, passive static mutual fund portfolios, and more. This isnt your grandads Wall Street, it is a casino flush with the Fed’s cash.

Today, the investor must be better armed with new tools and a clearer understanding of risk—and how to address it. The client deserves to see their interests be of paramount importance, and should demand a firm and an advisor that believes trust is the ultimate goal in building asset management relationships.

Many investors have found disciplines and adaptive strategies that can effectively prepare them for a constant search for opportunity. Indeed the time ahead will remain a challenge, even for the best of managers. However, while nothing is ever guaranteed, there are strategies available that will allow you to be more confident, and provide a foundation to help target absolute returns for your portfolios in the years ahead. There are strategies that can help preserve capital and can help limit downside.

Building wealth has a key first step – managing risk. Wealth is preserved and grown by avoiding big downturns, not necessarily by hitting homeruns in the up years and you certainly need to protect the portfolio rather than giving back gains when markets inevitably correct. Search for an advisory team that can show you how they actively manage client assets each day and save money.

Erick@erickarnett.com / 352.340.2942

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