Submitted by Josh Patrick on Wed, 04/16/2014 - 12:00pm
For some, “wealth management” means managing money. For others, setting up estate planning. For still others, planning how to protect assets. There’s no right universal answer – but the answer for you dictates your entire investing and saving philosophy.
Submitted by Larry Light on Sat, 02/08/2014 - 9:00am
Last month, we advised asking prospective advisors what they don’t do, and how to fill in the gaps by hiring folks with the right expertise. Often, your needs intersect, so you require two specialists. But the risk is that your financial situation ends up disjointed, since the advisors often don’t pool their conclusions.
Submitted by Tom Orecchio on Mon, 02/03/2014 - 3:00pm
Choosing an advisor is not easy. Nor should it be. Here are a few questions to ask as you start the process of selecting an advisor, as well as red flags to avoid at all costs.
· How does the advisor get paid? Is she or he commission-based or fee-only? A fee-only advisor does not accept any type of commissions for product sales. For advisors who are compensated by commissions, you pay them as you execute trades.
Submitted by Larry Light on Sat, 01/25/2014 - 9:00am
One of the first questions to ask, when shopping for an advisor, is what the person does not do.
Just as you won’t find a doctor who can treat your allergies and clean your teeth, it’s rare for one advisor to handle such disparate areas as investing, insurance, trusts and inheritance. You may need to spread the work around.
Sure, lots of advisors can handle your basic needs, such as drawing up a financial plan and running your money. But for other stuff, specialists are called for.
Submitted by Larry Light on Sat, 01/18/2014 - 9:00am
When you seek a financial advisor, what questions should you ask? Your aim is to find someone who handles clients like you – and who is financially savvy.
If searching for an advisor to manage your assets, one question that’s of marginal help is: What’s your investment record? A money manager whose investment performance touched the sky last year may stumble this year.
Submitted by Larry Light on Sat, 01/11/2014 - 9:00am
There is a widespread myth financial advisors are only for the wealthy. On the surface, that seems to make sense. Advisor income from the wealthy eclipses what can be gained from a client with just $50,000 or less in investable assets.
Submitted by Karl Schwartz on Thu, 01/09/2014 - 3:00pm
You reach the level of financial maturity where you must hire a certified public accountant (CPA) to help with certain aspects of your life and money. What should you look for?
The CPA title ranks as a widely recognized high credential for tax preparers and accountants. Each state’s Board of Accountancy licenses CPAs who practice in that state; each board issues rules that govern what a financial professional must do to become a licensed CPA.