If you could hire a personal financial advisor, would you?

Question

sorry for the random question...just curious...

Answer 1

Why not? A lot of people do.

Financial analysts and personal financial advisors held 355,000 jobs in 2004, of which financial analysts held 197,000. Many financial analysts work at the headquarters of large financial companies, several of which are based in New York City. More than 4 out of 10 financial analysts work for finance and insurance industries, including securities and commodity brokers, banks and credit institutions, and insurance carriers. Others worked throughout private industry and government.

Personal financial advisors held 158,000 jobs in 2004. Much like financial analysts, more than half work for finance and insurance industries, including securities and commodity brokers, banks, insurance carriers, and financial investment firms. However, 4 out of 10 personal financial advisors are self-employed, operating small investment advisory firms, usually in urban areas.
Personal financial advisors, also called financial planners or financial consultants, use their knowledge of investments, tax laws, and insurance to recommend financial options to individuals in accordance with the individual’s short-term and long-term goals. Some of the issues that planners address are retirement and estate planning, funding for college, and general investment options. While most planners offer advice on a wide range of topics, some specialize in areas such as retirement and estate planning or risk management

Answer 2

Take an wide seem at what he's promoting you, mutual money with a large the front end fee means that he's receiving a fee for promoting it to you and definitely a lot of this stuff will pay the monetary consultant a fee for promoting the product to you. The consultant in ordinary words has 2 recommendations of having money, through charging you a fee or promoting you fiscal products. To a particular volume, each of hese monetary gadgets features a portfolio of stocks and bonds that a fund manager manages or is managed in accordance to set regulations as in an index money so there is already a element of diversification in thee money. There should not be a favor to diversify for the time of too many diverse money except you attempt to achieve a portfolio stability that you could not locate in an available fund. in case you in ordinary words held an listed fund and a severe grade bonds fund, you could regulate your portfolio between in possibility and extremely danger loose between those 2 money. concentration your mutual money, earnings stocks and company money on your tax sheltered debts as they continuously produce taxable earnings and carry mutually positions in improve stocks on your brokerage debts because the capital powerful factors taxes are in ordinary words realized once you promote. In concept, you could purely dollar value ordinary carry mutually till eventually you retire and then plan annuity distributions. when you're searching for someone to supervise your funds, seem in a reflect, a monetary consultant advises.

Answer 3

If you're making so much money that the amount staggers your imagination then, yes, hire a personal financial advisor.

Answer 4

I would love to have one because I am terrible with money.

I wouldn't like to have to pay for it though because that is sort of defeating the object. It would be great for someone to come round my house and tell me how I can pay all my bills which mount up to just under £1000 a month, with only £800 coming in!!! lol.

Answer 5

Sure, why not?! I wouldn't mind letting someone else deal with the headache of balancing my checkbook, lol!

Answer 6

i would. finance is very vital.

Answer 7

No Then I would have to pay him to help me pay my bills...no Thanks