Then we go into the plan we built for you, explain how it works in detail, where the numbers are coming from etc. So from a quantifiable metric all of our funds are best in class.
We don't have that limitation and maintain relationships with wholesalers from all the major companies. Some advisors only sell let's say vanguard funds, or maybe they only have access to blackrock funds. Our firm specifically touts that we are independent and thus cherry pick our investments from whichever companies we feel have the best products.
Second meeting is more rapport building, small talk, and eventually we get into how your risk score came back, and which investment model of ours you fit into based on our risk score which is basically the ratio of stocks : bonds within the portfolio. This helps us create a plan for you where we can build in different scenarios for different levels of spending in retirement, different growth expectations, inflation expectations, changes based on items like 401k contributions, etc. We also try and get as exact a number of your monthly spending habits. Though we typically request people fill out a questionnaire before that first meeting as well.Īfter the first meeting we usually send out a link to a third party site we use called riskalyze which gives us a quantifiable number of your risk tolerance. The first meeting should be about getting to know each other, building rapport, and information gathering. You could probably do just fine investing broadly across some well known index funds and aggregate bond funds.įor someone 50+ real financial planning with a Certified Financial Planner can be extremely beneficial to at least give you a concept of where the goal posts are for how much money you need to retire and maintain a specific lifestyle and at what age it's feasible for you to do so.Ī good financial advisor's concerns when it comes to how you invest your money should start with trying to get an understanding about your individual situation, who you are as a person, how well you understand finances, your lifestyle, specific financial goals, a rough idea of what your total assets are, any major debts. The people commenting saying an advisor isn't worth their 1% are probably right if you're in your 30s and 40s. Theres some important pieces of information here that are missing, namely your age, the dollar amount, and your own understanding of how investments work.
0 kommentar(er)
