Investments- Who To Trust with Your Money
When it comes to investments, many people seek outside help from financial professionals. Financial planners advise their clients on how best to save, invest, and grow their money. They can help you set specific financial goals and give you a specific overview of your money. When it comes to your money, you want to find a financial professional who has your best interest in mind. This begs the question, "Who should you trust with your money?"
What to look for in a trustworthy financial advisor:
- Your advisor is upfront about the risk you are going to take on:
- When dealing with your investments, it is important to remember that each one is going to come with some degree of risk. Any advisor that tries to downplay and isn't upfront about the risk you are about to take on, is an advisor that you CAN'T trust. A trustworthy advisor will be transparent about the risk you are about to take on and show you what you could gain or lose in different scenarios.
- Understanding the fees you're paying:
- There are prices you have to pay when you're dealing with your financial advisor. These fees come in various ways, from commission to assets under their management, or even both. Regardless of your advisor's compensation structure, they need to be open and honest about it. Being well informed about the services you are paying for leads to a more transparent and trustworthy relationship with your financial advisor.
- Your advisor educates you on your investments:
- If your advisor is reaching out to proactively and regularly check up on your portfolio, then this is another indication of a trustworthy advisor. You want to be educated when it comes to dealing with your investments. After all, it is your money. Some advisors like to use trendy investment words to come off as experts. Although they very may well be knowledgable, they may not always have YOUR best interest in mind.
Many people need help when it comes to their investments, and it is crucial to find someone that you can trust with your money. Make sure that your financial advisor has your best interest in mind and is regularly reaching out to help meet your goals. If you have any questions regarding your investments or you're looking to get started investing, reach out to our full-service financial team.