What to know before seeing a financial advisor?
Here are a few questions to ask yourself before meeting with a financial planner:When would I like to retire?What does my dream retirement look like?Do I plan to work in retirement?How will I pay for my kids college education?Who will be my beneficiaries?7 days ago
How much money should you have before considering a financial advisor?
Many Advisors Require a Minimum of $100,000 in Investible Assets. Some advisors have minimum asset thresholds, which typically start at $100,000 — though some may require a minimum of $500,000 or even $1 million.
When should I talk to a financial advisor?
While some experts say a good rule of thumb is to hire an advisor when you can save 20% of your annual income, others recommend obtaining one when your financial situation becomes more complicated, such as when you receive an inheritance from a parent or you want to increase your retirement funds.
Can you leave your financial advisor?
In most cases, you simply have to send a signed letter to your advisor to terminate the contract. However, in some instances, you may have to pay a termination fee. Before you ditch your current advisor, its important to read through all those dirty details.