Timing in life may dictate when you need an expert to help manage your assets. But knowing how to select the right Financial Advisor is just as important as knowing what to do with your money.
When choosing to work with a financial advisor, here are 3 questions to ask:
1. Are you a fiduciary and are you willing to state that in writing?
As a fiduciary, an advisor is obligated to act in your best interest without pressure to promote a particular product or strategy. This is a preferred choice when aligning with an advisor and if they don't put that in writing then move on.
2. If you are my financial advisor, how do you get paid?
Typically, there are two ways an advisor gets paid. The first is a fee-based arrangement where transparency is key and is based on results. The second is a generated commission based on selling an investment product or strategy. A wise choice when selecting a financial advisor would be to choose a fee-based arrangement so there is a clear understanding of what they are making and are not influenced by commission they would receive from selling a product.
3. What is your investment philosophy?
A great investment philosophy is one that’s comprehensive and understanding of what your investment objectives and financial goals are. A great philosophy should also include a customized portfolio that compliments an independent approach where the advisor picks investments they think are best for you.
Check out our TIP VIDEO on "How To Pick a Financial Advisor" HERE. Engage with the entire King Financial Network team on www.kingfn.com to see what other expert advice we can provide towards your financial well-being.
A.J. Vignola is a Financial Advisor at King Financial Network. He is devoted to making sure the customer is satisfied and always acts in their best interest first. At KFN, A.J. collaborates with the unique and extensive network to analyze and strengthen strategies for each client's financial goals.
King Financial Network is an integrated, team-based network that takes a comprehensive, customized, and independent approach to guide you through Financial,Retirement,Tax, Insurance, and Estate Planning.
Securities and advisory services offered through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser.