Finding the right financial planner in today’s marketplace can be a complicated task. Financial Service Directory is designed to provide accurate information about local financial advisors and put you directly in touch with qualified wealth managers, insurance advisors, and tax consultants who are ready to serve your personal financial planning needs.
Choosing the right advisor is one of the most important financial decisions you will make in your life and having the right information about the professionals in your area will make the process much easier.
WHY HIRE A FINANCIAL ADVISOR?
If looking to hire a financial advisor and tempted to take the do-it-yourself approach with your personal financial planning, be warned, you may be making a costly mistake which can financially set you back for years. If you’re not familiar with concepts such as portfolio management and asset allocation, then hiring a financial planning expert to manage your finances is probably in your best interest. Most of us simply don’t have the time monitor our investments and the discipline to keep our emotions in check when market conditions see volatility.
There’s evidence that investors do better getting some professional advice. According to a study by Aon Hewitt, which provides advice to 401(k) plans, median annual returns for 401(k) holders who received professional advice were 3.32 percentage points higher when compared by those who invested on their own, even after taking fees into account.
When choosing to work with a financial advisor, consider someone who can do more than simply manage your investment portfolio. For instance, a certified financial planner (CFP) will take a more holistic approach to your retirement planning. They can help you decide whether you’re on track with your savings and how other investment options, such as Roth and traditional IRAs, fit into your retirement plans. Consider a CFP who charges a fee for advice versus one who takes commissions on products.
All too often when people take the do-it-yourself approach to financial planning and wealth management, they realize they’ve made major mistakes and have lost valuable time in which their money could have been growing and working for them.
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