Choosing The Right Financial Advisor

Published on: 25 July 2019 Last Updated on: 14 February 2022

There are plenty of financial advisors out there; you can never have trouble finding one. But, like buying any product, you need to find the right one. Deciding the type of advisor you should hire can be challenging. With poor research, you may end up losing a large sum of money from carelessness and ineptness. Thus, it is essential that you determine which advisor will help you meet your goals. The following are five steps to selecting the best financial advisor.

Choosing the Right Financial Advisor:

1. Know your financial needs:

There are various reasons why you would want to hire a financial advisor. For instance, you may need help in managing an inheritance, a retirement fund, or a loan. Financial advisors have diverse experience and expertise. Thus, not every advisor will be able to meet your needs.

This is why you need a financial adviser that can help you in every step of the way. Since the requirements of each individual are different, you need someone that can help create personalized investment solutions for you and your financial needs. Make sure to share and discuss your expectations from the adviser in advance.

Ensure you identify and rank your financial goals. You should be clear on the amount of capital you’re investing. Also, you should state your financial objectives and how much risk you are willing to sustain. It will help you select the right advisor.

2. Expertise:

Always go for certified financial advisors because the fact that they are licensed will help ensure you that the advisor you are about to hire is qualified and that they know exactly what to do and how to help you. Besides, credentials issued by independent bodies can be another evidence of qualification. Find a financial advisor in West Des Moines with a CFP (Certified Public Planner). It is the most significant credential. Its members must pass the tests administered by the CFBS. Moreover, find out whether he/she takes the annual courses required by the law.

3. Experience:

Experience is vital if you are to entrust this person with your dreams. Most financial advisors ventured in other fields before getting into a financial career. It equips them with knowledge about financial investments in different areas.

But you should remember that everyone has to start somewhere. Intelligence, responsibility, and passion can, in some cases, make up for the experience.

4. Cost:

Fees and commissions can end up making your investment, not so fruitful. Discuss the advisor’s compensation before closing the deal. It will avoid any conflicts on payment. You need to study the record of the adviser and your anticipated future record. For example, if your stock portfolio is 8%. You agree that the advisor gets 4%. Then, your net return will be 4%.

5. Compatibility:

Your financial advisor should have a personality that makes you comfortable. If you do not like your advisor, you will find it so difficult to open up about your financial concerns. Find a financial advisor in West Des Moines who has the patience to answer your questions.

Face-face meeting is a great way to assess your advisor, giving you a better impression. Would you marry a person who you meet at an online dating service without a face-face meeting? The same case applies here; you should not give your financial future to a stranger.

Bottom Line:

Remember how much you worked hard to earn the capital. Pick the best advisor and protect your wealth. Also, ensure he/she has the expertise needed to provide the best advice.

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How to Find the Best Exchange Rates

Traveling or trading with foreign currencies require additional fees, which often include surcharges for credit cards, commissions, fees for ATM, and others. Whether you are travelling to a new country for a vacation or considering expanding your currency portfolio, it’s no surprise that financial institutions are looking for ways to increase their profit in the long run. After all, each of them is technically running a business. If you are looking for a way to add more value to your money, there are ways on how you can find the best exchange rates almost effortlessly. Here are some tips to remember: 1. Research the Exchange Rate Beforehand: Exchange rates differ from country to country. There are countless online currency converters available, many of which come from reliable sources that are derived straight from the Forex market. If you are purchasing cash online via a mobile application, you may notice some additional charges that come with the conversion. To get the most of your money, consider searching for various cash apps with affordable transaction fees and compare them with each other before ultimately deciding which works best for you. 2. Plan ahead: For travelers who are visiting another foreign country, one of the best things you can do while preparing for the trip is to plan how much money you are going to need. After that, you can purchase your foreign currency ahead of time online instead of the last minute which usually requires costly delivery rates. Purchasing ahead also gives you a chance to see whether or not your payment has come through and allows the business the chance to confirm your identity. Purchasing currency online also saves time spent standing in lines and can be done as quickly as possible. 3. Use Credit and ATM Cards: ATMs abroad usually provide the best exchange rates when it comes to purchasing foreign currency which are usually 2-7% better compared to exchanging cash or traveler’s checks. During travel, it’s best to avoid using money exchange kiosks in public transportation areas and tourist spots. 4. Exchange Cash and Traveler's Checks: For people who may not want to use their cards for small purchases, exchanging cash and traveler’s checks is another way to find good exchange rates. However, be wary of exchanging them in tourist-filled areas like airports and train stations. Consider checking in banks and post offices. To get a proper exchange rate, read the postage rates very carefully and ask for the net rate that comes after commissions. It’s important to remember that commissions work in two ways: The commission that takes per percentage. The commission that is charged per item and transaction. To lure tourists, certain money changes that are not at banks or post offices will post the sell rate for the currency rather than the buy rate, which means you might be buying more than what you intend to spend. These money changers may also offer great rates exclusively for traveler’s checks or very large sums of money which can be dangerous to hand carry around. As an added precaution, be wary of exchanges in the black market which often include scams and counterfeit currency. 5. Watch out for hidden charges: Some companies may offer deals that advertise how much money you can save if you choose a specific delivery option, which actually includes extra hidden charges. To be safe, find out how much you are paying in total and exactly how much currency you will receive, changes with great exchange rates can be negated by commissions and handling fees. 6. Read the fine print: There are various apps and sites out there advertising the fact that they do not include transaction fees, delivery fees, and commissions. While this is very tempting, the last thing you want to do is to purchase a large sum of currencies only to realize that there are certain limitations and deductions. As much as possible read the fine print in the site’s terms of use. You can also call the company and ask some questions they may not address in their website. Conclusion: Dealing with foreign currency doesn’t have to be a hassle. As a currency trader or a traveller, one of the most important things you can do is actively research on a reliable business that stays close to the exchange rate without adding in extra hidden charges. While it may be time-consuming at first, learning to add value to your purchases is simply an investment you can’t avoid. Read Also: The Glitches Arrived In Travelling To New Place Tips To Help You Learn A New Language In A New Country

5 Perks of Having QuickBooks Pro for Your Business

QuickBooks main function is to simplify accounting in various aspects of a business. Intuit has released various versions of QuickBooks, so that different enterprise can select different versions of QuickBooks for their needs and requirements. QuickBooks Pro is one of the versions of QuickBooks software about which we are going to talk about today. This QuickBooks version is specifically designed for small companies. The features provided by QuickBooks can handle all the accounting functions including accounts receivable, accounts payable, credit card management, and financial reporting. The software is available for $219.95 in the US, this is great because earlier it used to cost $299.95 and now it is even more value for money. Cash Management- The software perfectly manages the cash flow and budget for small businesses. You can input the due dates for different kind of payments and the billing information can be added along with that. You can get printed checks directly through your QuickBooks software. For future audits you don’t have to manually record any transaction because all transactions are recorded automatically, this eliminates the need for paperwork. Expense Billing- In any type of business there various miscellaneous expenses like small purchases, meals, business travels, etc. These expenses may or may not be included in the client’s total bill, but because of their small amounts, they are disregarded and in the end, it is billed to the client only. In QuickBooks, you can maintain such record of all the expense and later go to them at the time of the billing. This will save some of the expenses for the clients and they won’t be any quarrel and even if there is, you would have a complete record which you show them. You can directly manage payrolls and taxes from the software itself. Invoices- Wouldn’t it be great, if the software does work and saves up a whole lot of labor and that too without any error that may happen in the case of human involvement? Well, QuickBooks does exactly that, it automatically tracks the sales and creates receipts and invoices any time you want, like if you have to send an invoice to the customer. The type of feature is very helpful if someone is buying the QuickBooks for retail business. You can even subscribe to QuickBooks checkbook solution, this provides with the ability to scan and deposit the checks into the program without manually entering the data. Reporting- Through QuickBooks, you can create various types of financial reports. These include yearly incomes, trends, expenses, and other documents. You can even create an excel sheet, in case you have to send the data to the client. Simple user interface- This one is obvious, the QuickBooks software makes every accounting activities very easy to complete and even does some of the work for you. There are various tutorials also on YouTube and on Intuit’s website, with their help you can explore all the useful set of features that QuickBooks provide. Planning- QuickBooks is advance planning too also for adding accounting data and also for planning your sales data, bills and other long term operations which your company performs. QuickBooks Pro can even produce tailored reports for your clients, managers, etc. which can provide you an informed view for your future planning decisions. Business Positions- with the QuickBooks Pro, you can generate a complete report of your company’s profit and loss with the profit and loss statement. You can also find out your top customer list at the end of the financial year and even after 6 months. Read More: How To Get Product Ideas For Your Ecommerce Business How To Get Low Cost Life Insurance For Seniors 10 Tips To Design The Perfect Business Card What You Need To Be A Successful Entrepreneur

The Best Stocks to Buy Now That Will Pay Big Later

An astounding 90-95% of day traders lose money and fail in the stock market. That's a pretty scary statistic for someone wanting to get involved in day trading. Learning what the best stocks to buy now is going to save your bank account as well as lower your stress levels. Buying into stocks is both nerve-wracking and exciting at the same time, and can either make you jump with joy or crumble into misery. Making the right moves is going to better your chances of being in the top 5% of successful traders. The biggest problem is, with over 1.46 billion shares a day, you could go cross-eyed when trying to figure out where to start. How do you know which are the best stocks to buy now? Have no fear, we have constructed a list of the best stocks to buy now, so you do not have to stress about that part. Read on to find them out. Amazon (AMZN) : The fact that Amazon has its hands in so many cookie jars, makes its future look unfathomably large. There is Amazon Prime, Cloud, Alexa, annual subscriptions and so on. In fact, more than 100 million people subscribe to Amazon with a $99 subscription fee every year. Apple (AAPL) : A lot of people seem to have a negative opinion about Apple products, say what you want but it seems like their stocks are going to continue to rise. The iPhone just keeps getting better and better, plus their newer products such as the Apple Watch or the Apple tv are just too awesome to ignore. ResMed Inc. (RMD) : ResMed creates medical equipment and cloud-based medical software for medical professionals to treat sleep apnea and chronic obstructive pulmonary disease (COPD). So far they have treated 2 million patients daily and helped those patients reduce healthcare costs by minimizing the chronic disease effects. With opportunities for growth located in India, China, Eastern Europe, and Latin America, it seems that they will be busy on the incline for at least the next decade. Alphabet (GOOG) : Arguably the first investor into artificial intelligence in comparison to its tech competitors. From helping Android users to now operating their own AI "Google Home," it seems like they are going to be neverending in their development of new and exciting AI-based software. Laureate Education (LAUR) : Laureate Education is the biggest network in the for-profit high-quality educational institutions. This stock has already climbed massively and analysts say that it is just getting started. Owning over 200 programs and operating in over 29 countries and counting, this stock is destined to climb high. Invest now while the initial buy-in is still low. More About The Best Stocks To Buy Now : It can be overwhelming knowing where to start, especially when investing in your first stocks. Deciding between NASDAQ and the top Japan ETFs can be difficult. Investing in any of the above-mentioned stocks will gear you towards success in your trading career. Feel free to contact us at any time with any questions and share your comments below. Read Also : How To Start Trading On The Stock Market And Profit? Buying Stocks For Beginners: A Guide

Choosing The Right Financial Advisor

Choosing the Right Financial Advisor:

1. Know your financial needs:

2. Expertise:

3. Experience:

4. Cost:

5. Compatibility:

Bottom Line:

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Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

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How to Find the Best Exchange Rates

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Choosing The Right Financial Advisor

Choosing the Right Financial Advisor:

1. Know your financial needs:

2. Expertise:

3. Experience:

4. Cost:

5. Compatibility:

Bottom Line:

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Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

Leave a Reply

Popular

Follow Us

Recent

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