For anyone who doesn\’t happen to be a financial wizard, or for those of us who are just plain bored with numbers and finances but need a little help now and then, what type of financial advice we look for is very important. Paid financial advice is always available, but the best type of advice is independent financial advice – from someone who isn\’t making a commission from tying to sell you a product or service.
The last place you want to check is with a company that sells financial products – insurance, annuities, investments, etc. They are commissioned to sell you products to solve your problem. Of course, they may very well be the perfect answer to your current situation, but you can\’t plan on it. Any time someone wants to sell you a financial product, ask if he\’s on commission.
To be a certified financial advisor you need to be licensed in most states. If anyone represents himself as a \”financial advisor\” or \”financial planner\” ask if he is licensed to do business. If not, it\’s someone who probably works for an insurance company that sells insurance and investments. And of course, he\’ll be happy to advise you to buy whatever he sells.
Of course, there are many reasons besides investing that you might need some financial advice. Not everyone who offers advice is on commission, but he might not be an expert in the topic either. If you are looking for perhaps some advice on mortgages, you can certainly get free advice at any bank. Sure, they\’ll try to get to apply because they, too, are probably on commission, but since all mortgages are pretty similar aside from their APR, the advice should fit any bank you decide to do business with.
These planning sessions can run you over a few thousand dollars each – and many consumers say they are pretty useless, having their agents come up with investment plans that only the wealthy could afford.
If you believe you do need some basic help in financial issues, contact a CPA who might charge you for a few hours of time, but he won\’t be selling you anything.
Looking for Financial Advice but don\’t know where to turn? Find out how Independent Financial Advice can turn things around for you! Get some help with your debt and other finances today before it\’s too late!
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