Keys to Working With An Investment Professional

Should you work with a Financial Advisor for your investments or do it on your own? That's the big question isn't it? Depending on who you talk to, many say a Financial Advisor is expensive and not worth hiring for your investment management. Others say it's completely worth it and they are invaluable for helping you build wealth. So which is it? As like a lot of answers, it "depends" on your situation.   

When you are first starting out, it most likely won't be worth it to hire an Advisor because you don't have enough money invested to justify the fees. However, once you have a decent amount of invested (usually $250k is a good starting point), I believe most people will benefit from having an Advisor in their corner.

Before you make your decision, you'll want to ask the question: "will the Advisor make me more money that they cost me?". There are always fees associated with a Financial Advisor (FA), so you want to know what those are.

If/when you decide to hire someone, here are some questions you want to ask the people you are interviewing (I recommend talking with 2-3 before making a decision):   

1) What is the investment portfolio you are recommending for me? 

2) Why did you pick this for me? 

3) What is the cost (initial costs as well as ongoing costs)? 

4) How will this impact my taxes? 

5) Is there anything else I need to know about these investments before I make a decision?  

There are obviously more questions you should ask, but this is a good start. If you are just getting started, I'd recommend getting organized with your money, getting your budget put together, have an emergency fund, and pay off your debts before investing. If you need help, coaching might be right for you. Check out the options here: https://www.sentinelcoaching.com/