Eight Questions to Ask Your Financial Advisor

You may like your financial advisor, but is he really looking out for you? All advisors are not created equal, and you have a right to know what makes them different! You also have a right to ask yours if he compares!

(1) Do you use a holistic approach to financial planning by determining my values and goals?

(2) Do you work on a fee-only basis, a commission basis, or both, and why?

(3) Do you have company-established insurance requirements, or do you recommend insurance only when it is needed by your clients?

(4) Do you attempt to 'beat' the market through timing and selection, or do you believe that attempts to do so are not worth the additional level of fees and risk? Are you aware that a vast majority of my returns will be based on asset allocation, rather than timing and selection?

(5) Are you a Registered Investment Advisor, and therefore a fiduciary? In other words, must you legally and ethically put my interests above your own?

(6) Do you meet with your clients at least three times a year to refine their portfolio and find out how events in their lives may have changed their financial goals?

(7) Do you return phone calls the same day you receive them, and are you available to answer questions as they arise?

(8) When you wake up each morning, do you ask yourself how you can best be of help to your clients that day?

Adjust these questions as you see fit, and depending upon what your own objectives and needs are from an advisor. The best advice is to never be afraid to ask!

© 2004 Matthew S. Clement, All rights reserved

Matthew S. Clement is a financial planner and investment advisor representative with Financial Network Investment Corporation, member SIPC. He provides holistic wealth management and retirement planning to individuals and businesses. He can be reached in New York at (845) 942-8578, or by email: ClementM@FinancialNetwork.com.

---

Coca-Cola - A Value Stock?

There has been much talk lately about Coca-Cola and its... Read More

Oil and Gasoline Price Uncertainties

The Light Crude Continuous Contract hit an all-time high at... Read More

Penny Stock Investing

The Nature of Penny StocksFor anyone new to investing in... Read More

The Economys Greatest Depression Downturn Ever Is Now Just A Few Years Away

What really controls the economy? Forget interest rates, forget deficits,... Read More

Angels, Are They Real?

They're real, but few survive. High risk investing is dangerous... Read More

Beginning Investor - Investment Terms

Over the course of the past two months, readers have... Read More

How to Use Annual Report

There are many steps in calculating the fair value of... Read More

Dont Catch a Falling Knife

One of the most common mistakes made by inexperienced investors... Read More

Investing in Car Dealerships: How to Do It Right

The financial characteristics of the automobile dealership are attractive:". .... Read More

Evaluating A Money Manager

Scams and frauds are designed to take your money through... Read More

Will a Falling Dollar Derail Your Plans for Retirement?

How much are you willing to pay for a tank... Read More

Six Principles of Successful Investing

1. Begin investing immediatelyProcrastination is the number one enemy of... Read More

The Myth of the Earnings Yield

AbstractA very slim minority of firms distribute dividends. This truism... Read More

Buy: Hold: Sell: Jump

I'm sitting here at my computer desk with a cup... Read More

Lobster Trapping for Investment Ideas

Recently, my family and I took a trip to Maine... Read More

Forex market offers opportunity and information

The forex market is what is called an international exchange... Read More

Day Trading Strategy or Stock Trading Software? The Way You Pick Stocks Affects Your Results

The trading method you employ to approach the stock market... Read More

Poll Names Coin Laundries Best Investment For 2005

According to Morton Pollack, CEO of PWS, The Laundry Company... Read More

Asset Allocation Lessons: The 70% Inflation Solution

For investors only... and for speculators who need to invest... Read More

Profitability And Stock Turn Rate

The inventory of the typical store represents the largest single... Read More

Raising Capital Using a Public Company

Going public in this manner is ideal for companies that... Read More

Time is Money and We Are Running Out of Both!

One of the fundamental principles of finance is the concept... Read More

Annuity Owner Mistakes

Okay, so I can tell you I have sat in... Read More

Margin Benefits are Marginal at Best

Margin is one of those things that novices find puzzling... Read More

Overbought/Oversold

Has your broker ever told you that a stock is... Read More

It Is Never Too Early To Start A Roth IRA!

The Roth is kind of weird until you get used... Read More

Finding a Broker

"Hey Joe! I need help finding a broker. I notice... Read More

Investor Guide to Financial Health

Step 1: Spend less than you earnPerhaps the simplest financial... Read More

Creating a Financial Future - Putting Your Plan Into Action Part 1

This column has previously discussed "picturing the future that we... Read More

Wit and Wisdom on Money, Wall Street and Success - Part #1

I love to collect quotes as they concisely promote a... Read More

Chinas Great Missed Opportunity

While a U.S. Representative to the Asian Development Bank Executive... Read More

Can Using Sales Leaseback Method of Investment Property Acquisition Reduce Risk?

Sales Leaseback compared to traditional property investmentCan a Sales Leaseback... Read More

Bad News - Why The Financial News Media Can Cost You Money!

The communication innovations we have around us today like the... Read More