Selecting the Right New York City Financial Advisor

Image result for Selecting the Right New York City Financial Advisor

In life making money is one of the most important things. If you are lucky enough to be able to accumulate a good amount of it, then another important thing is to be able to hold on to it. The way you do this is to understand how to make money with your money and how to engage someone like Jonah Engler to assist you in smart money decisions. This person is a financial advisor and can help you to increase your income and put aside enough money for you to have an early retirement.

But finding someone to assist you in New York City is a difficult and selecting the right financial advisor requires that you have a specific approach that is designed to yield results. Here is a short checklist of a few important qualities that person should have

Are they reputable?

New York is a great city with wonderful people and lots of legitimate businesses. But it is also a city where you have to know your way around. If you live or travel here for example you need to appreciate that there is fraud everywhere. From the boardroom to the sidewalks, you can find scammers whose only goal is to separate you from your money. On the street, these scammers might be street vendors trying to pass off fake designer handbags. In the financial advisor business these scammers will wear expensive suits and use fancy language. In the end the result is the same because they are not legitimate and you will lose your finances.

 So when you are considering a New York financial advisor, you should do your homework and check references. The person should be registered and have the appropriate licensing with Federal agencies. Further the person should have a long list of clients that are excited about telling you the person’s performance record. The person should have a high quality website and be conversant in all the details relating to the financial advice being given. Finally, the person should look the part. If the person is poorly dressed and not very articulate, but is claiming to represent the financial interests of lots of wealthy people, this should send a warning sign to you that this is not the person to whom you should entrust your money.

Do They Give you a Comprehensive Financial Plan?

The right financial advisor will carefully listen to your story and your goals for your financial future. The person will ask questions about your expectations and needs.These questions should be detail and get you to think through a lot of important elements of your life, and future goals. From this information, the financial advisor will design a well-thought-out plan for your financial future.

This plan should include the level of investment that you will need to make, the types of Investments that will be pursued, and the expected return over the near and long-term.  The financial plan should include a range of Investments that cover the spectrum of risk and reward. The plan should always place the bulk of your finances in Investments that are low risk and lower return, but should also include high-risk high-return Investments that can multiply your money more quickly. This plan gives a clear indication of the quality and style of work the financial advisor will offer. If you are impressed by what you see, this may be a person that you can hire to manage your financial future.

New York City has hundreds of financial advisors from whom to select. Some are with large financial Institutions while others work small offices. Although sometimes the size of the organization is important, what is more critical is to make sure that you like and respect the person with whom you are and trusting your money.

Related posts