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| *Ostroff, Fair and Company>>>Financial Services |
Financial Planners? |
What are some things that you look for when searching for a financial planner? Any red flags that I should be aware of? Some quickies off the bat: Look for a track record that shows employment for extended periods of time. Ask for references then contact those people to see how satisfied they were with service. Ask for a certain amount of experience (You may want someone who'se been doing this for a few years rather than a few days). Ask some targeted questions in which you already know the answer; If I have this and do that what will happen? Also ask for computer skills as internet and computer programs are now standard in the field. Red flags, a lot of accounts that have lasted brief periods of time (may indicate inability to do the job). Extended periods of unemployment (may be a sign of criminal conviction). Resume's that don't address the job you're trying to hire for (may show lack of experience or outdated skills). This isn't nearly everything but it should be a good start. A lot of people seek out financial planners --- cause they have debt-- need help paying their obligations. You must be looking for someone who is gona take your money and give you thousands in return for his paid services and knowledge. The only red flag I can anticipate is a Power of Attorney to manage the money with out your approval for his decisions Kiss the cash bye bye ,,.. Everytime he makes a stock trade.. He will take a commision. $100---$200---$300 at a wack.... Kiss the cash bye bye... Seen this before---Well educated college people stick their head in the sand and do not want to be responsible for their own money investments. ..When you go into the office and see the wood desk and he just bought a new Mercedes for the wife. The guy is wearing Gucci shoes and $1000 suit. Looks like he really knows what he is doin--right...How do you think he got all this stuff--- he gets commissions from people like you.....There is no guarentee that he will make a single dime---but he will get commissions... Take your head out of the sand--investing is fun. The market is booming... Books by JIm Cramer --- cramer.com and watch Cramer at 6pm and 11pm on CNBC. """ MAD MONEY"""" You will be sweating more about your money with a broker than doin this yourself --- guarenteed |
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