How to Find a Financial Adviser that Fits Your Personality

Many investors find that they do not have the time or energy needed to be successful in the stock market. Some may turn to investment brokers for guidance, which may or may not be a good thing depending upon your circumstances. Whatever decision you arrive at, the following steps will help you find a financial adviser that fits your personality.

Difficulty: Moderate

Instructions

1. Get Independent Financial Advice - The main reason to find a financial adviser is to get financial advice. If you knew what you were doing, you would not need any help. Independent financial advisers will work with you to achieve a plan that fits your personality and investment style.

2. Determine Your Investment Objectives - Do you have twenty to thirty years before you retire? If so, your investment objectives should be completely different than those who plan to retire in a few years. Determine your risk tolerance. Does the thought of losing your investment dollars keep you up at night? If so, you may want to consider more of a fixed income investment style, rather than a stock appreciation style

3. Look for Fee Based Financial Advisers - Fee based financial advisers truly have your best interests in mind when they develop your plan. Instead of taking unnecessary risks in order to grow your portfolio, they consider all aspects of your financial situation and personality. You pay a flat fee, up-front, then the financial adviser develops a plan around your objectives and goals, not the other way around.

Tips & Warnings

• Always seek independent financial advice if you are not making the investment decisions for yourself.
• Find a financial adviser if you are not a professional investor! You will earn more over the long-term by hiring a qualified professional.

Resources

• Easy Credit Repair
• TaxCut Software

[blingaling]

on 12/14/2008 Good advice on a really important topic.