In our commitment to transparency and education, we created a 4-part video series on the four questions you should ask to determine if you need an advisor. The series should be viewed in order, starting with Do I Need and Advisor. Each section links out to a page with further information.
Deciding on the need for an advisor often comes down to a few things, including: have you set a good financial foundation so that you are beyond the just-getting-by-stage; how complex is your situation; and are you someone that is comfortable working with a partner.
We explore the four different types of advisors you are likely to encounter and how they stack up against each other in key areas. Armed with this information, you should be able to better assess which type is best suited for you based on factors such as your goals, the complexity of your financial situation and your net worth.
Understanding how an advisor charges for their services is imperative in finding the right fit for your personal situation. Generally, most advisors either are compensated through upfront commissions for products they sell or on an ongoing basis through a percentage of investments that they manage on your behalf. It is usually a good idea to discuss how an advisor gets paid, and why they chose that method. Cost is an important consideration when choosing an advisor, and they can vary substantially.
When dealing with any in-depth project, having a proven process often allows you to “jump the line” or greatly shorten the time to accomplish project goals. When factoring in all of the decisions that must be made over time with investments, taxes, benefits such as Social Security, healthcare, asset protection, and charitable giving, you can quickly see why a systematic process is one of the most important things when building a successful financial plan.
As you consider the right next step for you given your unique situation, please feel free to contact us to further explore this and other investing topics. At Avery Wealth we believe education and information is key to reaching your goals.
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