Financial Advisor
Beware of Your Financial Advisor! [K] [i] [n]
L.T. Drake (Kindle Edition) 2011-01-29
Release date: 2011-01-29
Price:
$7.99
Answers
I have come across too many people who claim to be financial advisor/planner and they are completely clueless. I am sure there is university or college who is offering legtimate course to be one of the better planner/advisor.
Santa Clara University in CA offers an accounting and a finance program that can feed directly into one of the big accounting firms and to getting your CPA.
What a Certified Financial Planner is and why choose to work with one
Hello I am wanting to start me own firm for financial planning and investment advisor.
Do I need to get my Series 6 or 7 or Series 63 or 65 I am really confused on what I need
You would think in college they would have covered this, but they didn’t . Also can you tell me what each series 6-7 etc is exactly for.
Thanks for your help in advance. RL
Call your state securities commission. They can give you all the information you need. Or contact FINRA at finra.org and they can tell you who to contact in your state.
Price: $30.00
I want to know what you think of the site and how useful it is for buying or selling a book of business.
I am one of the executives here at FP and would be happy to provide you a free login so you can get in "behind the scenes" and see what the site is all about. There are certainly listings available, but many of our users are also looking for tools and information, which is large portion of the site. If you are interested in a login, send me an email at davidjr@businesstrans.com and I will take care of it.
I have a background in finance, and I am very interested in Financial planning. I don't know if it's good to start my career as a financial advisor.
The interview will last for about 30mins. what questions do I expected to be asked? will the interviewer ask me a lot of behavioral questions? what kind of behavioral questions will they ask?
I do not mean to discourage you but usually the hiring in the industry is a long process. Certain companies would not even do the interview without filling out an assessment test as well as some math questions. Others meet with you first and then test you. Anyway I would expect at least three interviews. Most companies would ask you to present a business plan. In general, the first interview would be an overview of the company and then some questions about you, your background,affiliations with different organizations and of course why you would like to work for that particular firm. If you show energy and real passion you will do great. I went through the whole process a bunch of times and I got hired everywhere I applied. I had to go back for 5 interviews with a particular company and some of them were 2-4 hours long. Wish you best of luck!
my husband makes 175,000 annually. the only debt we still have is his student loans that are 250 dollars a month. we own our house and cars. the only money we are putting back as of now is for life insurance for him and life insurance for the kids that they can cash out when they are 21. we put back 1000 a month into savings and that's pretty much it. what else should we be doing? where should our money be going? we are meeting with a financial advisor next month but any FREE advise would be nice!
I agree with the comment about not needing insurance to cash in for the kids.
Some things to consider
1. Emergency fund of 3 - 6 months in case of job loss, unexpected expenses
2. Retirement savings - should be saving about 10 + % of the income for that.
3. If the interest on the student loan is high you may wish to pay that off.
4. Kids college education
A financial advisor - is that really a stock broker? or an insurance agent? If it is you may wish to also see a fee only financial planner. Stock brokers and insurance agents have a built in conflict of interest - they make money by selling you their company's products or other products that are high cost (to cover their commission).
A fee only financial planner only collects a fee that you know of up front. It isn't cheap but you get someone who can give you advice without that conflict. They will usually recommend lost cost index mutual funds (e.g. From Vanguard) with annual expenses of 1/4 of one percent vs most brokers or insurance agents that will sell you a fund with a some front on back end fees and an annual expense ratio of 1% or more.
Beware of advice to buy annuities, variable, universal or whole life insurance, mutual funds with front or back end loads (Class A or Class B shares) or with expense ratios of more than 1/2 of 1%.
For Insurance - you should look at guaranteed renewable term insurance - it is really cheap until you get older and then you really don't need it. For investments - a well diversified portfolio of index mutual funds e.g. Vanguard: Total Stock Market, Total International Stock Market, Total Bond Market,
or one of their Life Strategy or Target Retirement Funds. After meeting with the financial advisor I would suggest looking at the diehard.org site below. Lots of good advice and if you ask them a question or for a asset allocation they will do it. It is a group of mostly very wise and friendly investors that have a general investment philosophy. They also have a good reading list that you should consider.
Good Luck
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Finding The Right Financial Advisor In London And The Home Counties
With all the worrying news about the economy over the last few years, its understandable that people are concerned about the value of their investments and their ability to fund their future, especially their retirement. If this is you, perhaps youve thought about turning to financial advisors in London and the Home Counties to find answers to your questions? Investing your money in a way thats both safe and offers an adequate return is vital for your continuing prosperity. However with interest rates at rock bottom, finding safe places to invest is now difficult. Likewise, insurance policies that properly cover us in all eventualities can be hard to identify. And worrying about having enough to enable us to retire comfortably is a concern for everyone. And this is where financial planning professionals, who are highly trained, can offer you effective financial advice. One area in which a financial planner can offer vital advice is that of inheritance tax planning. Inheritance tax is paid on the assets of a UK domiciled individual who has passed away. Assets include everything from property to cars and cash. These assets can be anywhere in the world and the fact that the individual is not living in the UK doesnt mean hes not liable for UK tax. There are ways to minimise the impact of inheritance tax, including insurance, wills or trusts and making a transfer to individuals, groups or organisations. However this should only be done through careful inheritance tax planning with the assistance of someone thoroughly familiar with the tax system and in conjunction with a lawyer. Essentially, estate planning needs to be done on a case by case basis as everyones situation is different. The need for a tailor-made approach to your finances means you need to find a financial planner who will first analyse your situation and your future goals to produce a custom made solution to handle your financial needs. Only such as detailed analysis can produce the optimum investment advice, retirement and tax planning, and personal insurance advice that are the cornerstones of a sound financial planning system. Ideally you want someone who will sit down with you and help clarify the big picture regarding your finances. This will include investments, pensions and life insurance with special consideration of your income and tax position. You can then discuss your objectives and attitude to risk which will allow your personal financial advisor to make recommendations about structuring your financial affairs in the most effective manner. When it comes to looking for a financial advisor, London and the Home Counties has its fair share and the internet has made it easy to find and qualify them. Look at their web sites for qualifications and experience before making a choice. The first thing to check is that the firm is FSA authorised. Companies offering advice on financial products must be authorised by the Financial Services Authority (FSA). FSA authorisation guarantees a certain standard and adherence to certain rules regarding the type of service they offer and how they charge for it. The FSAs website contains a list of all authorised companies or you can call their consumer hotline to check out a particular entity. Another sign that a firm is reputable is that it employs advisors with chartered financial planner status awarded by the Chartered Insurance Institute (CII). Introduced in 2006, the title Chartered Financial Planner is awarded after the completion of a suite of qualifications designed to signal to the public that financial advisers and financial planners are fit for purpose. To qualify, applicants must hold the advanced diploma in financial planning, have five years relevant industry experience, adhere to the CIIs code of ethics and conduct, and demonstrate three years existing continuing professional development (CPD) and commit to maintaining this activity.
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