Not Knowing This About Your Financial Advisor Will Cost You:
The average brokerage account is over $10,000, so most people don’t know how hard it is to spend and invest it well. The trick is to make sure you trust someone who has the qualifications to deliver on what they say.
While the idea of an investing advisor may seem harmless,
Tom Von Reckers points out, it’s not. Reckers, author of the #1 book for investors, “Doing It Right: 101 Money Lessons From Billionaire Investors” points toward wealth and exclusivity, it doesn’t have to be like that. If you’re going to invest, you need to spend some time researching potential advisors and financial institutions. Do not be fooled by the impression that all financial advisors are the same, especially if this person is working for your retirement. The truth is that few financial advisors are capable of knowing your financial history and having a personal relationship with you like a family member. Finding advisors who can provide good advice is critical to your financial success.
Owning A Solely Tax-Efficient Portfolio Will Hold You Back:
Since life is a marathon, it’s important to have long-term goals to guide your investment decisions, and financial advisors who only work with wealthy clients are often unable to offer that kind of planning. While tax-efficient portfolios are important for people who want to control their finances, every investor needs to have a portfolio that holds wealth while considering investment opportunities that match their goals and financial situation.
Fitting in the proper investments is a difficult task that requires developing the expertise necessary to fit your needs. Before you invest any more money, you need to have a good understanding of your investment goals and how much risk you can afford to take.
Not Knowing This About Your Financial Advisor Will Cost You:
“In a nutshell, this financial advisor is working for you and doing his job well. Yet at the same time, he is keeping you from reaching your goals by not being able to offer you advice in the areas that you need help,” said Tom.
Tom Reckers wrote the #1 book on doing it right on investing. Reckers offers a variety of books and articles on the topics of investing, savings, investing, credit, debt, credit cards, careers, estate planning, investing and the most important investment advice.
Tom is also the founder and principal of the Reinvestment Fund. He is a frequent contributor on Fox Business Network and host of a financial radio show and one of the top financial advisors in the country.
The goal of Reinvestment Fund is to provide Americans with sound, affordable investment options that are positioned to make a difference in their financial lives, regardless of income level, age, education or financial assets. Learn more at
Tom Von Reckers.
Editor’s Note: In the following conversation Tom reveals how a terrible financial advisor cost him $125,000, why many financial advisors don’t know anything about investing and how to avoid these mistakes.
Tom’s Advice To People:
Anyone that is serious about investing, should read the entire book. The purpose of the book is to offer readers the knowledge and information they need in order to learn about investing and be successful. You should start by finding out what you need help with, to make sure your financial advisor has the proper qualifications, the right credentials and the knowledge to do a good job. The second step is to research and understand what your financial advisor is selling you.
Every
financial advisor is selling something, and you need to understand that they will sell investments to you that are suitable for your financial situation. Understand the benefit of being invested in things that provide high growth potential, while lowering your risk and eliminating your risk.