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Advisors- Personal Financial Advisor

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A Personal Financial Advisor, also known as a Traditional Financial Advisor, is what you are used to when you rely on professionals for financial advice and services. They are located in your community or close by and they provide personalized services that include face-to-face meetings. 

Key Characteristics

Personal Financial Advisors have four key characteristics:

  • They are Registered Investment Advisors or Investment Advisor Representatives
  • Their registrations permit them to provide ongoing advice and services
  • They are financial fiduciaries (highest ethical standards)
  • They are compensated with fees for their knowledge, advice, and services

Comprehensive Services

Personal Financial Advisors provide various combinations of advice and services that include: Planning, investing, insurance, tax, and legal (estate). The two most frequent combinations of services are planning and investing. A high percentage of advisors also provide insurance advice and services. A much smaller percentage provide tax and legal services.

Face-to-Face

A key characteristic of Personal Advisors is their willingness to meet with you face-to-face. Meetings may occur in your location or the advisor's office. This method of communication is preferred by investors who want personal contact with their advisors. Some investors believe the service level they receive is impacted by personal relationships with advisors.

Tailored Services

Personal Financial Advisors tailor their advice and services to your particular situation. Consequently, they do not limit you to model portfolios that are based on the general needs of investors versus your specific needs. There are several variables that impact your investment strategy. It is not possible to capture all of them in a model portfolio that is designed for the masses and not for you. 

Pricing

Personal Financial Advisors charge fees that reflect the value of their knowledge, advice, and services. They may charge a fixed or hourly fee for their planning services and an asset-based fee (% of assets) for their investment services. Some advisors wrap multiple services into a bundled fee (also known as a wrap fee). You will pay a higher fee to Personal Financial Advisor, but you should receive a higher level of service.

Paladin says.....

Your best bet is a Personal Financial Advisor if you need comprehensive advice and services that are tailored to your specific needs.

 

A personal advisor is what you are used to when you rely on professionals for financial advice and services. They are located in your community or close by and they provide personalized services that include face-to-face meetings. 

Key Characteristics

Personal Financial Advisors have four key characteristics:

  • They are Registered Investment Advisors or Investment Advisor Representatives
  • Their registrations permit them to provide ongoing advice and services
  • They are financial fiduciaries (highest ethical standards)
  • They are compensated with fees for their knowledge, advice, and services

Comprehensive Services

Personal Financial Advisors provide various combinations of advice and services that include: Planning, investing, insurance, tax, and legal (estate). The two most frequent combinations of services are planning and investing. A high percentage of advisors also provide insurance advice and services. A much smaller percentage provide tax and legal services.

Face-to-Face

A key characteristic of Personal Advisors is their willingness to meet with you face-to-face. Meetings may occur in your location or the advisor's office. This method of communication is preferred by investors who want personal contact with their advisors. Some investors also believe the service level they receive is impacted by personal relationships with advisors.

Tailored Services

Personal Financial Advisors tailor their advice and services to your particular situation. Consequently, they do not limit you to model portfolios that are based on the general needs of investors versus your specific needs. There are several variables that impact your investment strategy. It is not possible to capture all of them in a model portfolio that is designed for the masses and not for you. 

Pricing

Personal Financial Advisors charge fees that reflect the value of their knowledge, advice, and services. They may charge a fixed or hourly fee for their planning services and an asset-based fee (% of assets) for their investment services. Some advisors wrap multiple services into a bundled fee (also known as a wrap fee). You will pay a higher fee to Personal Financial Advisor, but you should receive a higher level of service.

Paladin says.....

Your best bet is a Personal Financial Advisor if you need comprehensive advice and services that are tailored to your specific needs.

 

A personal advisor is what you are used to when you rely on professionals for financial advice and services. They are located in your community or close by and they provide personalized services that include face-to-face meetings. 

Key Characteristics

Personal Financial Advisors have four key characteristics:

  • They are Registered Investment Advisors or Investment Advisor Representatives
  • Their registrations permit them to provide ongoing advice and services
  • They are financial fiduciaries (highest ethical standards)
  • They are compensated with fees for their knowledge, advice, and services

Comprehensive Services

Personal Financial Advisors provide various combinations of advice and services that include: Planning, investing, insurance, tax, and legal (estate). The two most frequent combinations of services are planning and investing. A high percentage of advisors also provide insurance advice and services. A much smaller percentage provide tax and legal services.

Face-to-Face

A key characteristic of Personal Advisors is their willingness to meet with you face-to-face. Meetings may occur at your location or the advisor's office. This method of communication is preferred by investors who want personal contact with their advisors. Some investors believe the service level they receive is impacted by personal relationships with their advisors.

Tailored Services

Personal Financial Advisors tailor their advice and services to your particular situation. Consequently, they do not limit you to model portfolios that are based on the general needs of investors versus your specific needs. There are several variables that impact your investment strategy. It is not possible to capture all of them in a model portfolio that is designed for the masses and not for you. 

Pricing

Personal Financial Advisors charge fees that reflect the value of their knowledge, advice, and services. They may charge a fixed or hourly fee for their planning services and an asset-based fee (% of assets) for their investment services. Some advisors wrap multiple services into a bundled fee (also known as a wrap fee). You will pay a higher fee to a Personal Financial Advisor, but you should receive a higher level, more personalized service.

Paladin says.....

Your best bet is a Personal Financial Advisor if you need comprehensive advice and services that are tailored to your specific needs.

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