Understanding Financial Advisers
GOLLIHUGH FINANCIAL SERVICES
4 DUNNINGTON COURT
SPRINGBORO OHIO 45066
937-748-4504
At some time in your life, you may need someone to help you manage your financial affairs. When that time comes, you'll be surprised to find out just how many financial advisers are out there, waiting to help you. The key to choosing the best adviser is knowing what services they provide, and what services you need.
What You Should Know
Sound easy? It isn't always. Choosing a financial adviser can be complicated, simply because advisers vary widely. Even though many advisers call themselves by the same name - like financial planner or stockbroker - they don't all provide the same services. And, they don't always get paid in the same way. This makes comparing prices a challenge. That's why it's critical to ask each professional very specific questions, so that you know what you're getting and what you'll pay.
Financial Planner or Investment Adviser?
Financial advisers fall into two categories:
Financial planners generally take a broad view of your financial affairs. They assess every aspect of your financial life, including your savings, investments, insurance, taxes, retirement, and estate planning. They work with you to identify your financial goals and develop a plan to meet those goals. Of course, not all financial planners provide all of these services. Some planners might focus on your investments, but not on your total financial picture. Others might recommend that you invest in only a limited range of products.
Investment advisers get paid for giving you advice about stocks, bonds, or mutual funds. These advisers may also manage your portfolio by buying and selling securities. Of course, not every investment adviser provides both of these services. Some will simply make trades for you, but won't give you any advice.
Here's a simple way to think about it. Most financial planners are investment advisers. Not all investment advisers are financial planners.
4 DUNNINGTON COURT
SPRINGBORO OHIO 45066
937-748-4504
At some time in your life, you may need someone to help you manage your financial affairs. When that time comes, you'll be surprised to find out just how many financial advisers are out there, waiting to help you. The key to choosing the best adviser is knowing what services they provide, and what services you need.
What You Should Know
Sound easy? It isn't always. Choosing a financial adviser can be complicated, simply because advisers vary widely. Even though many advisers call themselves by the same name - like financial planner or stockbroker - they don't all provide the same services. And, they don't always get paid in the same way. This makes comparing prices a challenge. That's why it's critical to ask each professional very specific questions, so that you know what you're getting and what you'll pay.
Financial Planner or Investment Adviser?
Financial advisers fall into two categories:
Financial planners generally take a broad view of your financial affairs. They assess every aspect of your financial life, including your savings, investments, insurance, taxes, retirement, and estate planning. They work with you to identify your financial goals and develop a plan to meet those goals. Of course, not all financial planners provide all of these services. Some planners might focus on your investments, but not on your total financial picture. Others might recommend that you invest in only a limited range of products.
Investment advisers get paid for giving you advice about stocks, bonds, or mutual funds. These advisers may also manage your portfolio by buying and selling securities. Of course, not every investment adviser provides both of these services. Some will simply make trades for you, but won't give you any advice.
Here's a simple way to think about it. Most financial planners are investment advisers. Not all investment advisers are financial planners.
posted by crg1 at 5:33 PM
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