Who should I talk to about investment advice?

Answer:

There are many different types of investments, each

with varying degrees of risk and potential payoff. When seeking investment advice, it is best to consult an experienced and licensed financial advisor. There are several types of investment advisors, including financial planners, stock brokers, and investment advisors.

Many beginning investors find working with a financial planner to be the best option. Financial planners often specialize in helping you figure out how to structure your current investments so that you can reach your long-term investing and retirement income goals.

You should exercise caution when selecting a financial advisor. You probably didn’t choose your doctor by opening the phone book, closing your eyes, and pointing. You probably asked your friends and family for recommendations. The same holds true when it comes to choosing a financial advisor. The people who know you best are likely be the best source of guidance to a financial advisor who will work well with you.

The financial advisor you choose must be someone that you are comfortable with and who listens to your concerns about investing. When meeting with a prospective investment advisor, be honest about your investing goals and financial situation. Pay attention to whether or not the advisor really listens to you. Does the financial professional explain things clearly and in terms that you understand? If not, keep looking until you find a financial advisor that does pay attention and offer clear explanations. Proper communication is a necessity when it comes to cultivating a relationship with an investment advisor.

In addition to finding and working with a personal investment advisor, you may want to do some investment research on your own. It is certainly beneficial to learn everything you can about investing. Investment U, the educational division of The Oxford Club, a well-respected independent investor network, publishes a free electronic investment newsletter that features many tips on successful investing. To subscribe, simply register at www.investmentu.com .


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