Four Reliable Sources To Get Expert Financial Advice
Take it from us, you’ve gotta stop taking financial advice from your grandma who keeps her cash in her apron pocket, or from your uncle, who literally spends all he’s saved when it rains. Also stop taking financial advice from your well-intentioned neighbour, who kept her store’s books back in 1936, and, for your sake, don’t ask for money advice from your unemployed friend who plans to save for her retirement when she wins the lottery. And no, your friend who knows someone, who knows someone, who is an accountant to a stock broker, is not going to help you much in accessing a source of sound financial advice, either.
Here’s what you should also take from us. Take our advice and start seeking proper financial advice from one of the following four credible and reliable, financial advice sources.
1. Mutual fund distributors
All financial investment newbies should find about the investment options of mutual funds. A Mutual Fund Distributor is a licensed individual or organisation involved in the sale of mutual fund shares, on behalf of larger investment companies. Distributors can provide you with the basic information and rudiments of investing in particular categories of mutual funds, and your potential Return on Investment (ROI) per share, over a specific period of time. A mutual fund investment, accessed through a distributor, is considered a great entry into the big, wide world of financial investment. Getting financial advice from a distributor of mutual funds is free of charge.
2. Insurance agents
Insurance companies do a pretty thorough job of training its staff and agents in the ins and outs of financial planning and investing, and therefore their agents are a reliable source for seeking certain types financial advice. Insurance agents can help you plan financially for areas such as retirement, choosing life insurance plans and health insurance policies, and can also help in establishing a savings plan. Some insurance agents also sell investments in mutual funds. Individual agents represent only one company, unlike corporate agents who are allowed sell products from more than one insurer. You do not have to pay for the advice of an insurance agent.
3. Stock brokers
Stock brokers are experts in trading of stock in local and international stock markets. Because of their training and their insight into the movement and growth of money, they are also an excellent option to gain financial advice on how to invest your money on the stock market. In recent times, stock brokers have begun to widen their portfolios by branching out to the selling of mutual funds and insurance products. Stock broker’s advice is also free, and like insurance agents and mutual fund distributors, they earn money through commission when you invest in products and services.
4. Fee-only financial advisers
Lindale Insurances Financial Planners are the only financial adviser in our list that accepts a fee for providing financial advice. This financial planner does not sell any products, nor any service other than their financial advice expertise. They are therefore, by industry law, impartial to any particular investment option that is available, and provide unbiased financial advice that include the best investment options that the client’s money can buy.
These four financial advice sources presented does not represent an exhaustive list of resources where you can get expert financial advice – but they’re a good place to start. Consider doing some more research so you’re more knowledgeable and confident when you invest your hard-earned dollars.
And the next time you speak with your grandma, say hi for us!