A robo-advisor may be the best fit if you’re just starting out or only need investment management: For a low fee, these computer-based services choose and manage an investment portfolio for you. Some also offer access to financial advisors if you have questions about your investments or your goals. Robo-advisors often have low or no account minimums, so it’s easy to get started.
I want personalized financial advice, but don’t need to meet my advisor in person: There are a crop of services offering online financial planning for less than you’d pay a traditional in-personal financial advisor or financial consultant. These companies provide complete investment management and holistic financial planning; the major difference is that you’ll meet your advisor virtually — by phone or video chat — rather than in a local office. Most services pair you with a dedicated advisor or certified financial planner; some less-expensive options offer access to a team of advisors.
I want a local advisor or a wider array of financial advice: On the other hand, if you want in-person financial planning or have a more complex situation, you may decide a traditional local financial advisor is right for you.
Top three questions:
1. Are you a fiduciary?
A fiduciary works in the best interest of the client. Non fiduciaries need only to recommend products that are “suitable” — even if they’re not the lowest-cost or most ideal for you.
2. How do you get paid?
Advisors can use a variety of fee structures. To keep it simple and avoid conflicts of interest, focus on fee-only advisors. They don’t get commissions for selling products.
“Make sure it’s fee-only — those particular words,” says Alice Finn, founder of Power House Assets and author of “Smart Women Love Money,” a guide to investing. (Some of the questions here are from her book.)
Fee-only advisors might charge a percentage of the assets they manage for you (1% is common), a flat fee for services or an hourly fee. If cost is a concern, you may want to go with a low-fee robo-advisor or an online planning service like those mentioned above.
3. What are my all-in costs?
In addition to paying the advisor, you’ll face other fees — and you’ll want to know what they are. Fees can decimate your savings over time. A Nerd Wallet analysis found that a 1% mutual-fund fee could cost millennial $590,000 in retirement savings. “You can lose half your net worth without even knowing it,” Finn says. “You want to be vigilant.” So all of these are the question that anyone can ask to their financer for their better financial planning even if they want to start an new project and for they can ask their financer of what they can do for their betterment and for that they required project report for bank loan or on that project report they can get subsidy project report and subsidy DPR or they even get Sample project report for Subsidy and for that first of all they need to know How to Prepare Project report for Subsidy or Business Project Report for Subsidy. Or they can download CMA for free and can use CMA DIY tool, CMA online preparation tool etc. and with help of loanDPR.com they can get easily project report for their big project like Project Report for Industries, Project Report in entrepreneurship, Company Project Report, etc. or they can get Mudra Loan Project Report as well.
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