Question : Is good to have personal finance consultant?
I wonder how other people feel about having a personal finance consultant to manage their wealth. How many have the service? How long they stay with the same consultant? Are people satisified with their consultant? Thank you.
- asked by No Idea
All Answers:
Answer #1
do not much believe and trust upon consultants orpeople of that type regarding finance , but ifyour business or wealth is big, have a financesecretary and manage yourself, if you are toutilize your wealth for further business , it isnot the consultant , it is you who shall findwhere the wealth shall be utilized, the money youspent on consultant shall be enogh for you to getsome experience in developing business, wishingyou good luck
- answered by rehman2w
Answer #2
Yes, it is good to have a certified financialconsultant. They will give you a financial needsanalysis to determine your needs and to assessyour goals and future financial direction.
- answered by Sunshine
Answer #3
To start, I'll need to disclose the fact that I'ma wealth manager, so I'm biased. But I think it'svery important to have someone you can trust tohelp you manage your finances. The key term hereis "trust". Most so called planners are nothingmore than salespeople. The big brokerages such asAmeriprise, Morgan Stanley, UBS, etc. all paytheir "planners" on commission and provide verylittle real training. To avoid this problem youmay want to try to find a fee-only financialplanner. A really good place to start iswww.napfa.org. All NAPFA members are CertifiedFinancial Planners. Now, there are probably ahundred different certifications out there. Theonly ones that really matter are the CFP, ChFC,and CFA. CFA's are usually stock researches formutual funds or trust funds. ChFC is a gooddesignation but it's given to life insuranceagents and, as you know, insurance is a verycommission driven field. The CFP is a worldwidedesignation sposored in the US by the FinancialPlanning Association.
http://www.fpanet.org/Thesecond part of "trust" is finding a planner thatyou feel comfortable with. Even if you find 3people who truely have your best interests atheart, if you can't share openly because you feelintimidated or uncomfortable, then therelationship won't be as successful as it couldbe. I would suggest you inteview several localplanners before making your decision. To get anidea of what it's like to work with a planner, andto learn more about personal finance, I welcomeyou to listen to my podcast. It's the #1 ratedpersonal finance podcast in the world with over1million impressions and listeners in over 60countries. You can call or write in withquestions. www.promoneytalk.comBest,Jason
- answered by www.promoneytalk.com
Answer #4
Nobody cares more about your money than you. It'sa fact, always remember it.Most financialconsultants and money managers will recommend(make you buy) services provided by their company.They skim off the top a percentage of your wealthon an annual basis. If you need financial advice,you should find a flat fee-based consultant whowon't try selling you services of his employer.Make sure to agree on the fee before anydiscussions take place.I think you should onlyhire them when you run into things only acertified financial professional would know about.
- answered by teehee
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measure and fulfill your financial needs
