Investing is essential for planning your future and becoming financially free. However, there are some roadblocks, both real and perceived, that prevent people from starting to invest. 56% of people believe they don’t have enough money to start investing and many others do not know where to start.
If you want to start creating an investment plan, hiring an investment planner can help you start the process and earn more money in the future.
Do you want to learn how you can choose the best investment planners? Keep reading this investment planning guide for the top investment planning tips to follow when you are hiring a company.
Know the Different Types of Investment Planners
Not all investment planners are created equal. Financial advisors can offer a wide variety of services, so it is important that you understand these differences. There are many common types of financial planners. These include a chartered financial analyst (CFA), an investment advisor, and a registered representative, also known as a stockbroker.
You can even use a Robo-advisor if you simply need help choosing and managing your investments.
Each of these financial planners can offer you help with different types of investments and planning, so make sure you do your research to find one that matches your specific investment planning needs!
What Services Are You Looking For?
Next, you need to consider what investment planning services you need help with. As was mentioned before, different companies and different specialists will have a wide range of services.
As was mentioned, you can use a robot advisor if you want help choosing or managing your investments. This is a great option for those who are just starting to invest. This is also a cost-effective solution for investing.
However, if you are dealing with complicated investments or have additional financial planning needs, you may need to hire a local financial advisor. Plus, you may need to hire an investment planner that specializes in the specific type of investment you are interested in.
You can easily learn about the investment planning services that a company offers by looking at their website.
Ask About Education and Experience
Investment planning can be a complicated process with many things that can potentially go wrong. Because someone else will be handling your money, you must make sure you hire an investment planner that is educated and has plenty of experience.
First, you need to look into their education. Where did they go to school? What degrees have they obtained? Make sure they have a degree in a relevant area. Plus, you can see what certifications your investment planner has. Some may become certified financial planners (CFP).
When it comes to experience, you should ask a business how long they have been working in the industry. What types of investments do they have experience working with? When you learn more about this education and experience, you can feel confident that your money is in good hands.
Find an Investment Planner With a Good Reputation
When you hire an investment planner, you must do your research to make sure they have a good reputation. Even if they are completely qualified to help with your investments, you need to make sure they are reliable and professional.
One of the easiest ways you can learn more about an investment planner’s reputation is by checking online reviews. This will give you insight into how past clients have felt about the company and whether or not there were any issues with their service.
Another easy way to find an investment planner with a good reputation is by asking your local friends and family members for references. If you know that your neighbor has had success working with an investment planner, they may be willing to recommend a company for you to work with.
Finally, you can even ask your investment planner if they have references from past customers. Doing this research will ensure that you hire a company that will treat you well and will provide you with good results.
Ask About Investment Planning Costs
Budget is another important factor that you need to consider when you are choosing an investment planner. Each financial advisor and investment planner will have different costs and fees for their services.
As was mentioned before, each different type of advisor and investment planner will vary in cost, especially between online planning services and traditional investment planners.
If your investment planner is too expensive for your budget, they will likely not provide you with enough value to justify the cost.
Consider Your Financial Goals
Finally, you must consider your financial goals before you hire an investment planner. For example, if you are interested in investments but have too much debt, you may need more help with financial counseling before you start investing.
You also need to make sure you hire an investment planner who is aware of your goals and knows how to help you reach them.
Discuss each of your financial dreams with your advisor and see if they can provide you with actionable steps to help you reach these goals. For example, if you want to be completely out of debt, your investment planner can help you find ways to get there.
Looking for an Investment Planner?
Hiring an investment planner is a simple way to get the financial clarity you need when it comes to your investments.
To make sure you get the best services possible, you must consider each of these factors before you hire an investment planner!
Are you looking for investment planning advice? The Asset Advisory Group can help! We offer everything from financial coaching to investment planning and more. Contact our financial experts to learn more about our services and to start planning for your future today!