Choosing An Investment Advisor
Choosing an investment advisor is a different kettle of fish from choosing a financial planner. A planer will have experience handling every aspect of your financial life - your children's' college funds, your retirement plan and estate planning, besides investment planning of course. An investment advisor on the other hand, is supremely qualified to handle a specialized part of your financial life -- your financial investments. This includes stocks, bonds and mutual funds. Take care to tell the difference between a regular investment broker who sells products, and a full fledged investment advisor who has experience handling a variety of investment related services.
Now that you know what to look for, consider what qualities you will look for in an investment advisor. Your independent investment advisor should be educated, and should have attended a reputed college. He should possess licenses from the SEC, the state or should be a member of the National Association of Securities Dealers (NASD). Some have credentials, from the CFA - Chartered Financial Analyst, but these are not required by law, so don't discount a candidate if he doesn't have these credentials. He should have plenty of experience in his field. Generally, at least 5 years of experience is considered adequate to be able to make crucial financial decisions. Rather than greater experience, choose an investment advisor representative who has experience making financial decisions for people who are in the same profession or business as you are, or in the same income status as you are. This makes him more of an expert with people of your demographic, which gives him an edge when it comes to making quick decisions.
Your investment advisor should have a clean professional record, and should have no record of disciplinary action taken against him for ethical and legal violations. He should not have been sued by former clients. Your SEC investment advisor should make you feel comfortable. This is the man who makes important decisions that will impact you and your family for the rest of your lives. If something about him doesn't feel right, make sure you give him a miss and look for another investment advisor. For instance, if he tries to impress you with too many certifications or tries to sell you a fixed investment plan that is one size fits all, that's a sure sign that he doesn't have your best interests at heart. Make sure that you check up on the validity of his registration, and certification by going online and checking them. You should also be able to afford his services. Many registered investment advisors will take a fixed fee while other prefer commissions on products and services that they recommend. Whatever the fee systems you should be able to find enough value in his services. To get in touch with reputed investment advisors in Dallas who meet all the above qualifications, simply take two minutes to fill out the short form on this page. You will be matched with Dallas investment advisors who will compete for your business, giving you an array of options to choose from.