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One of
the most important tasks that is involved in building a great
portfolio is an experienced financial advisor. Choosing the
right one however can be a not-so-easy task and requires a
good amount of research. The tips below will help you out on
ways to find a great financial advisor.
Always
consider financial advisors which have been licensed by the
NASD (National Association of Securities Dealers). In order to
open up investment opportunities to pretty much anything other
than commodities, you should find a financial advisor holding
a Series 7 license. For other purposes such as investing in
closed-end funds, unit investment trusts, and mutual funds a
series 6 licensed advisor would be acceptable.
You
should choose a financial advisor who has a career in the
financial services field within a time period of around 3
years and who is licensed. This is an approximate time it
takes for any advisor to build a track record.
If you
go with a financial advisor who gets paid on a fee only basis,
you will most likely see greater investment results because it
is likely they will provide financial advice which is unbiased
and will provide an injective. The advisors who charge fees as
opposed to a type of compensation plan, they offer a higher
type of service as opposed to individual financial advisors
who get compensated on a commission basis.
Always
request references and follow up. If you are dealing with a
experienced financial advisor who knows what he's doing, he
should be able to provide a fairly long list of clients with
satisfactory results. If an advisor is not able to do so,
there is likely a problem and you should seek financial advice
somewhere else.
Source: www.rlrouse.com
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