Financial advisors help people decide how to manage their money and reach their financial goals. But financial planning isn’t one-size-fits-all. Hannon Fayard with NCU Wealth Management is here to discuss how to choose the right financial advisor for you.
What do financial/investment advisors do?
Financial advisors help you make the most informed decisions about your money. They can assist with strategies on how to earn the best interest rate given your risk tolerance and liquidity needs. Financial advisors help you with decisions about drawing money from retirement accounts and develop plans for retirement.
How do I choose a financial advisor?
Finding a financial advisor that’s right for you may take some time but it will be worth it in the end. Here are some tips to help you identify a qualified, knowledgeable financial professional:
•Ask for recommendations from family and friends, then interview a few before making a choice,
•Ask for the financial advisor’s credentials and licensing in the areas such as investment advice, securities or insurance,
•Ask about the person’s work experience in financial planning,
•Find out what you can expect regarding the extent of written advice offered, number of meetings, whether you are expected to purchase investments through the advisor, etc,
•Discuss what types of products and services are offered and the fees associated with each.
How do I get started?
Once you’ve narrowed down your choice, schedule an appointment to discuss your particular situation, objectives and goals. From there, you and your advisor can develop a plan and discuss how to accomplish your goals. The earlier you begin the process, the earlier you can reap the rewards. Studies show people who have financial advisors earn a better return on their money than people who do not have a financial advisor.
NCU Wealth Management Program provides a collection of protection and asset accumulation products that can help you meet your personal financial objectives. Representatives are qualified to provide professional assistance, quality financial products and dependable service. Call 228-474-3422 to schedule an appointment.
To learn more, click here: https://navigatorcu.org/investing-financial-planning-service/ncu-wealth-management/