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(MoneyNewsWire.Net, May 12, 2017 ) NV, USA ---- DIY or Do-It-Yourself tricks are already everywhere nowadays, but there are certain situations where experts should be present. Sometimes, you just have to accept the fact that there are people who are more capable of handling things than you are. Nasdaq compared the need of hiring a professional to rewire a bedroom and bathroom, or reworking an investment portfolio. If you are not an expert in any of these fields, it would take you forever before you got it right.
But when it comes to handling digits of your bank account/s, a financial advisor or a financial professional is what you should hire. Glenn Hechler emphasizes that financial advisors like him are professionals that are experts on handling money by looking at it in a bigger picture. Your money should not be spent in one swift right after punching on your ATM. Handling it wisely means getting a financial advisor that can create a comprehensive plan to help you create a long-term goal.
Glenn Hechler clarifies that a financial advisor should be able to provide you advice about insurance, investments, taxes, estate planning, and other related benefits. However, selecting a financial advisor can be overwhelming and sometimes intimidating too. There are a lot of things to consider but it can make your life easier if you’ll start by knowing the 3 basic types of financial professionals:
1. Commission-based (brokers, registered representatives, insurance agents)
These advisors sell their products like annuities, mutual funds, and insurance then receive commissions. With their held Series 6 or Series 7, they are commonly hired by big financial institutions. But since their commission is based on what they sell, a conflict of interest between your goal and their recommendations can occur.
2. Fee-based
In spite of being new in the financial world, these advisors are already in contact with brokers or agents just like commission-based advisors. They are licensed to sell insurance or investments to get commissions. Even if they do sell products too for a commission, they offer a free financial planning to clients. Be aware that some of their free recommendations commonly require clients to buy their products so they can get a commission out of it.
3. Fee-only
For financial planning and asset management, this is the favorite choice. Fee-only advisors live with a fiduciary duty. It which requires them to act and make recommendations based on the best interest of their clients. They don’t money based on commissions because they get paid on hourly rates or flat fees directly from their clients.
If you plan on getting a financial advisor now, make sure to study each type before hiring one. They may be all professionals but their interest can be different from your goal that can cause confusion on your part. But with more than 20 years of experience in this field, Glenn Hechler can certainly help manage your money well.
About Glenn Hechler
Glenn Hechler is a very successful financial advisor and stock broker. He is located in New York and continues to shares his knowledge and success in his field. Looking for an excellent financial advisor in New York? Contact Glenn Hechler now.
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