Before you choose a financial advisor, ask yourself several questions. Is this professional properly qualified? Are they in your budget? Can you afford to hire them? Listed below are some questions you should ask before you hire one. You should know that you’re dealing with a fiduciary, meaning that their duty is to act in your best interest. This means that they are required to act in your best interests – and if yours are not, you may not be getting the best advice possible. Do you want to learn more? Visit Andina Advisors Financial Planning.
When you choose a financial advisor, you may not be able to determine whether you want a traditional advisor or a robo-advisor. However, in New York, you’ll find that financial advisor firms are much more abundant than anywhere else in the country. That’s a good thing. It allows financial advisors to reach a wider audience. A financial advisor can also help you plan for the future, such as getting your will in order, as well as identifying your health care proxy and executor.
Traditional and hybrid financial advisors have their benefits and drawbacks. The traditional types are human and face-to-face, while robo-advisors are automated and operate online. You should choose a financial advisor with a human face, as advanced financial planning requires the expertise of a human. You should also consider whether you want your financial advisor to have a background in the same field as you. Make sure that the advisor you choose is certified in your field and follows a fiduciary standard.
Steward Partners: This is another fee-only advisory firm, but you should be aware of their high minimum account balance. They employ an extensive team of advisers that include certified financial planners, chartered financial analysts, and certified public accountants. They use primary and sub-asset classes for their portfolios. In addition, they have a high minimum account balance, making them the best choice for high-net-worth clients. They offer a full range of financial services, including estate planning and stock portfolio management.
To find a financial advisor, conduct your due diligence. Do background checks on potential candidates by visiting BrokerCheck, which is an industry site that tracks client complaints and disciplinary history. Additionally, you should ask prospective advisors for references. While many potential advisors cherry-pick their best clients, it’s crucial that you find a real fiduciary who acts in your best interest. There are several important things to look for when hiring a financial advisor.