Managing your investments and finances can be a challenging task due to the overwhelming number of options that are available and the decisions that will need to be made. To help you with making wise choices about your finances, you may want to retain the services of an experienced investment advisor to help you navigate this process.
How Much Influence Will An Investment Advisor Have Over Your Finances?
It is often assumed that an investment advisor will have near total control over their clients' investments. However, it is important to note that an investment advisor can have as much or little control over your investment as possible. For example, it is possible for a client to authorize their investment advisor to make transactions on their behalf. Conversely, it is also possible to only use these professionals in an advisory role where they analyze the client's goals and find suitable investment choices to present to the client.
What Type Of Billing Structure Will An Investment Advisor Utilize?
When retaining the services of a financial advisor, it can be easy to be worried about the fees that must be paid to these professionals. Typically, these services will charge clients under a couple of different structures. One of the more common is to charge the clients a percentage fee that is based on the size of the portfolio that they are managing. Some individuals may be uncomfortable with this type of billing arrangement, and these individuals can opt for services that charge clients a flat fee. Prior to making a final decision about your financial advisor, you may want to schedule consultations with several professionals so that you can find one that instills confidence in you while also having a billing arrangement that you find acceptable.
How Often Should You Meet With Your Investment Advisor?
It is often assumed that individuals will need to meet with their investment advisor extremely frequently. However, this is not necessary, and it can even be counterproductive. Rather, you should expect to meet with your investment advisor every few months to once a year. The optimal frequency will be determined by the aggressiveness of your investment strategy as well as the current performance of the portfolio. During your initial meeting with your investment advisor, you and the professional will establish a review schedule so that you can return to the office to closely review the performance of your investments and any potential options that may be emerging.
For more information, contact companies like Fogel Capital Management, Inc.