The Difference Between A Good Financial Advisor And A Bad Financial Advisor

A bad financial advisor does the exact opposite. That is the type of person that is more concerned with making money off of you than making money for you. This is done by generating fees from your account. Stay away from the bad ones and find a good one. A good financial advisor is worth their weight in gold because they can make sure that you meet all of your goals.

There are a whole lot of financial advisors out there so you have to learn the difference between them all. The two basic types are commission based financial advisors and fee only financial advisors.

Commission Based Advisors

A commission based financial advisor is the traditional type of advisor. They get paid based on the percentage of sales that they generate. This can be good for the advisor but not so good for you. A commission based advisor may be motivated to sell you a bunch of products so that they can boost their total take. The result could be excess trading of your account and giving you way too many funds than you actually need. That is why it is so important to have a trustworthy advisor so you can actually put their advice to use without worrying about their motives. Ask your advisor to give you the best funds for you and ones that will actually work for you without just lining your advisor’s pockets with cash.

Fee Only Financial Advisors

Fee only financial advisors are paid a flat fee based on the services that they perform. They receive no commission and are not compensated for endorsing any product. Clients pay an hourly rate for services and use them when they need financial planning assistance. Fee only financial advisors are growing in popularity because clients like the fact that they do not receive an incentive from fund companies or brokers. This means that clients can get completely honest advice without having to worry about any conflict of interest whatsoever.

New Horizons is a fee only financial advisor that has been helping clients reach their goals since 2006.

Mutual Funds

There are a lot of different mutual fund options to select from. You can always get a good growth fund, value fund, bond fund, or sector funds. There are also different asset allocation strategies for mutual funds include large cap, mid cap, small cap, and blended funds. This can make mutual fund investing confusing for a lot of people. In order to help narrow down the investing options, I have created a list of the best mutual funds to invest in.

It is an easy to read 10 page report of my 5 favorite mutual funds. These are funds that have good management teams, low expenses, and the potential to outperform the overall market. This mutual funds report can be found by visiting the Buy Like Buffett website.

The best part about the report is that many of these funds can be purchased for small amounts of money. One fund will even let you start investing with just $50. Prices like those are very tough to beat so pick up your copy today.

Black Enterprise Mutual Fund Finder

Download it here.

We will discuss your interest in our financial planning services. We will provide you with information about our advisory services, and fee structures. We will also provide you with a brochure and introductory materials.

Step 2: Informational Meeting

This is a meeting to discuss your investment philosophy, objectives andpreferences. This meeting will also discuss the specific services that you are interested in. An estimated fee will also be provided to you. One half of this fee is due upon agreement to enter into services.

Step 3: Data Gathering And Initial Preparation

Information about the client’s  financial life will be gathered. We will seek to assess financial goals, needs and priorities.  An investor profile questionnaire will be completed to determine your investment attitude and risk tolerance. Reports and summaries are developed from the financial information gathered.

Step 4: Investment Plan Formulation

All information previously gathered is analyzed and a specific report is formulated based upon a number of factors (age, income, tax bracket, investment goals, risk aversion, financial situation).

Step 5: Financial Plan Presentation

You will be presented with a customized financial plan based upon yourfinancial goals, objectives and risk tolerance. The complete plan will bereviewed as well as all recommendations and instructions for implementation. Final payment is due on this date.  

Investment Advisory Services-

Real Estate Consulting Services

Business Management Services

Entrepreneurship Training Services

Educational Consulting Services

New Horizons Management & Financial Consulting, LLC performs consulting services for individuals seeking to own their own business. The Entrepreneurship program is a series of workshops for adults age 21 years and older, which includes:

Business Plan Formulation

We teach individuals how to formulate a qualitative business plan.

Presentation Skills Development

We work with individuals on how to present your business plan and prepare you to answer questions that potential investors may have about your business.

Networking

We bring in potential investors who can help finance your business ventures. You  will have the opportunity to present your business plan before a group of investors who then decide if they will finance your business.

Traditional IRA

Roth IRA- 401(k)-

403(b)

SEP-IRA

SIMPLE IRA

Solo 401(k)

Profit Sharing Plans

• Real Estate Business Planning
• Real Estate Consulting Services
• Buying and Selling Process
• Real Estate Investment Services
• Commercial Real Estate
• Real Estate Investment Trusts (REIT)
• Real Estate Management Services
• Real Estate Marketing Services