Free Financial Advisor

Well, are they any good? I have some money in a bank and an IRA with fidelity. Both my bank and fidelity are providing complimentary Financial advisory service. I want to know if it is any good? I am novice and juz started out into the world of investment and overwhelmed already. Any input is highly appreciated.

You always pay for financial advisors, either through an upfront fee, or through commissions. Your 'free service' is being provided thanks to commissions they get paid from your investment.

Generally, paying an upfront fee is better with financial advisors because they are more likely to give unbiased advice. Advisors who get commissions are more likely to recommed products that will generate more fees for you, so they get more income. However, most advisors are above board and try to give unbiased, reliable advice.

When choosing a financial advisor, go by word of mouth recommendations, and be prepared to pay a fee -- it might be a great investment.

Also, check out their credentials so you know you're dealing with someone qualified.

Best wishes

2008-05-30 00:07:16 by nickname_question

Mayor King Bloomberg and NY Daily News have teamed up with volunteers to help New Yorkers with free financial advice and that is great but how ...

Charles Schwab has a good deal of free advice on its Web site, if you set up an account with them.

2006-09-10 13:23:44 by Wik

Price: $55.00

I found the best way was word of mouth - ask around family, friends, colleagues etc. Most do provide their services free, and work off commision from the products/services they 'sell' u on behalf of other companies.

2008-05-12 11:04:01 by fiona m

Price: $30.00

If I don't pay, the government will take over my payments and I get the home for free. Is this true?

your advisor is retarded

2008-11-14 10:21:53 by arpie3

I would like to become a financial advisor, and this guy http://www.guardingyourwealth.net/ answers financial questions for free.
Is that the end of financial advisory?
I don't like to sell financial products, I would prefer to be an unbiased financial advisor, is that still a good choice?

Just because someone answers questions for free doesn't mean they are right or are the best. Also, this person isn't going to have time to answer all the questions specific to you. That is why you need your own financial advisor. Not all FAs charge for advice. If they don't charge you, they will earn a commission on what they sell you.

If you don't want to sell financial products, then you need to give better advice than the person who gives it away for free.

If I could earn $1,000 investing based on free advice, or $5,000 investing based on advice that I pay for, I think you can see that paying for advice can be worth it.

The hardest part, of course, is "knowing" the answers / giving the best advice. If you don't have the right answers, people will quickly stop going to you and paying your for it.

2008-08-13 16:53:01 by Claudio F