Using a financial advisor is one of the best ways to make sure you're on track for a comfortable retirement. A trusted advisor can also help you answer complex money questions, such as whether you should buy a home, get a business loan, or settle zombie debt.
But how knowing which type of financial advisor you should work with can be confusing. There are many different investment firms and advisors with different designations to choose from.
Even if you don't think you need a financial advisor right now, it's wise to understand the types of services they offer, how they get paid, and how to check their background and any complaints filed against them.
To get clarity on what you should know about working with a financial advisor, I interviewed Rita Cheng, CFP. She's the CEO of Blue Ocean Global Wealth, an investment advisory firm that strives to be a trusted partner and educational resource. Rita is also an Editorial Review Board Member at Finder.com, a comparison site helping consumers make better financial decisions.
I think you'll enjoy our conversation and come away with a better understanding of what it's like to work with an advisor and how to get started. We cover:
- How your goals determine if you need an advisor and which type
- If you need to be wealthy to work with an advisor
- Different types of fees that advisors charge
- Who's an excellent candidate to work with a financial advisor
- Differences between robo-advisors and financial advisors
- Where to find potential advisors and check their backgrounds
- Questions you should ask a potential financial advisor
Listen to the interview using the...
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