Building wealth takes time and effort. When you’ve worked hard for many years and have clear financial goals, it stands to reason that you deserve to find the best possible financial advisors and the best investment opportunities to make certain that your life-long efforts are not in vain. There can be few things more heart-breaking than spending most of a lifetime putting together wealth and then losing it through bad advice and risky investments. The truth is that there are endless stories like this, and countless people spend the years they dreamed of as being carefree retirement years still working hard to try to make ends meet. If you don’t want this to happen to you, you need to take time to truly learn about what makes a good or bad investment and to conduct thorough research before making a decision. This is your money, your wealth, and the time you invest in researching how to protect it and make it work for you, should be made a priority.
What to look for when deciding where to invest
Firstly, you need to be aware that the financial industry is heavily regulated, and that this is in place for your protection. There is a Securities and Exchange Commission and also a Financial Industry Regulatory Authority. However, just because these bodies are in place, doesn’t mean that every financial firm is registered or is compliant. This would be your first step – to ensure that the company and people you deal with are properly registered and licensed. Failure to ensure this could mean that you become one of those sad stories that give so many investors pause.
Another area to consider is that some financial planners are independent and can offer you a range of investment opportunities, while others might be tied to only those products offered by their institution. The latter would apply to most banks and insurance companies. If you consult an independent financial advisor, you will be exposed to a much wider range of products and opportunities and should definitely be able to find one which is perfect for your needs. Another possibility is to look at something like commonwealth financial services, where you will find a firm that processes the investment transactions on behalf of independent financial advisors. If you locate a firm that takes only the best, accredited advisors, you have already narrowed down the field of the best financial planners to consult.
Finding out exactly what your investment needs are
You should have a proper consultation with an investment advisor and should feel that your personal or business financial needs are as important to the financial planner as they are to you. You should feel a commitment that this advisor will do whatever possible to help your capital grow, and will truly become a financial partner. If you feel that all your needs have been clearly heard and that your broker/dealer is truly engaged with you and your needs, you’ll be more confident to continue to learn more about the investment opportunities presented to you.