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Saturday, October 10, 2009

Can Professional Financial Advice Be Affordable

By Richard Moran

A professional financial advisor may be easier to find than you realize. All the investment firms have them on staff as well as most of the banks. If your finances are large or complicated you may want to consider contracting with an independent financial advisor to guide you through the maze of investments available.

Looking For Help

There are a few easy ways that you can look into finding that affordable financial advice. The first place that you can look is in the phone book. This may seem simple, but it's also the easiest way to find something to start with. Once you have a small list of people to call, take a minute and call them to see what they can tell you, and what, or if, they will charge for a consultation. Some financial advisors are going to talk to you for free just to get your business into their door.

Check with friends and business associates.

You never know, someone from your golf club may have a great prospect. Conversely, a business associate may be able to steer you to a great performer. Doing this may also keep you away from making the same mistakes they did in the past with bad choices. Eliminating bad advisors is as important and finding good ones.

Do your Research

Once you have found someone that you think you would like to work with, you can take their information to the Internet. This way you will be able to find out anyone else's experiences with them. This will help you to pick the right person for your needs and help you to save some money in the long run.

Look on all the financial websites that do not belong directly to a particular firm. The firms site will be generally oriented to selling the product/service the company has available. Message boards, chat rooms that have a financial bent will be best. Search the firm/advisor's name for both positive and negative comments. Don't be put off if there is a negative comment or two as we all take our finances very personally and the negativity may be a personality conflict. Of course if it turns up overwhelming bad comments move on to the next prospect.

Your financial situation is unique and special to you. Be sure you find a firm/person who understands this and doesn't try to just sell you some package they are pushing this month. All firms/advisors will have an agenda so it is you job to sift through the suggestions and ask the questions. Bottom line - unless your 100% comfortable don't write the check. - 23210

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