When we think of financial advisors, we mainly think of rich people who don’t know how to manage their money, or of big companies who require assistance in managing their assets. However, the truth is that anyone can benefit from financial advice. Whether you own a small business and you don’t know what the future holds, or you’re just a guy who wants to save up to buy a house, a financial advisor can help you develop a long term plan to achieve your goals. However, there are many companies that provide such services, and it is important to find the right company for your particular needs. Here are some tips that will help you narrow down your choices and find the right financial advisors.
In the financial field, qualifications can be determined by one or both of the following two matters: education and experience. So before you put your financial future in someone else’s hands, make sure they have the right education and/or experience to help you achieve your goals. More importantly, seek advice for consultants that can prove they can apply their skills to develop an ideal strategy for your particular needs.
2. Multi-directional approach
An advisor who will think only in terms of finance, will limit your possibility to grow. It is important to understand that your financial success is directly linked to your personal and professional development. As such, we recommend that you seek advice from a company that can support you in all areas. Our recommendation would be to try out Infinium Advisors, the best Denver financial advisors. They focus on 3 major matters: personal growth, professional development and portfolio growth. By tackling all these areas at once, they can help you plan the bright future that you dream of.
Before you commit to a financial advisor, make sure to understand how they are compensated for helping you, because that will be their main incentive. You may think that advisors who work on commission are more likely to be invested in helping you, but the truth is that this situation creates a conflict of interest, since the advisors cannot be completely unbiased when working with you. It is far better to work with an advisor that is compensated based on a flat fee system. Moreover, try to find a RIA consultant (registered investment advisor) as this certification forces them to put your best interest at heart, unlike brokers, who can make recommendations that are not really the best choice for you, but merely suitable choices.