your advisor working strictly in a fee-only or fiduciary capacity at
it boils down to how your advisor gets paid. Is he willing to be
completely transparent about his incentives? Are you sure you’re
receiving advice that’s objective? For more about the fiduciary
standard for financial advisors, click here.
educational background and professional credentials does your
The most respected credentials are the
Chartered Financial Analyst (CFA) designation for investment
professionals and the CERTIFIED FINANCIAL PLANNER™ (CFP®)
designation for financial planning professionals. For more
information about these designations, click here:
CFA - CFP
is the “all in” cost you will be paying for your advisor and the
investments you will be using?
The true cost of your investments can be hard to figure out
on your own, especially when you are working with a commission-based
or fee-based advisor. Most fiduciary advisors are willing (even
proud) to be transparent about all investor costs.
tax-efficient is your financial advisor when it comes to your
Will your taxable
investments be traded often resulting in significant taxable gains
each year? Will your advisor be attentive to tax loss harvesting
and other tax-saving strategies?
your advisor be preparing a comprehensive financial plan?
Comprehensive plans done right are highly detailed
and customized. In addition to a retirement spending analysis, a
quality financial plan includes a review your tax picture, estate
plan, insurance protection and other relevant aspects of your
financial life, with recommendations for each. For more information
about a Keatley Wealth Management financial plan, click here.
Financial planning articles