Planning for Retirement? Here’s What to Know Before Hiring a Financial Advisor

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What is an investment advisor? Consider him or her your ticket to a successful portfolio. That’s because advisors (as well as certified financial planners) can help you build up your securities (stocks, bonds, mutual funds, etc.) or manage your portfolios altogether. And once your portfolio is tight, you might just be well on your way to a more comfortable lifestyle — or a more secure retirement plan.

It’s always a good idea for older folks who are nearing retirement age as well as younger employees who have just begun their new careers (and thrift savings accounts) to be fully aware of their plans for their post-work years. And who better to help you reach those golden years than financial consultants? Here’s a good place to begin your search.

Investment Advisors vs. Financial Planners

“Financial planner” is often a larger blanket term that encompasses an individual who provides professional advice on savings, investments, taxes, insurance coverage and estate planning. These experts can also dole out advice on investments and portfolio planning as well, and for this reason, all financial planners are investment advisors, but not vice versa. That’s all according to the U.S. Securities and Exchange Commission, by the way.

Investing in the Right Investment Consultant

How do you find a financial advisor in the first place? The same way you’d find a lawyer or accountant or some other professional service — the Internet (or the Yellow Pages). But before you choose just any old advisor, it’s important to shop around the ensure you’re making the right decision for your finances. Ask the big questions: how long have you been practicing? Are you certified by the SEC? How do you request that you’re paid for your services?

A Burgeoning Industry

The Bureau of Labor Statistics projects the financial advisement industry to grow 27% between 2012 and 2022, and that’s not just good news for future planners — it’s good news for you, too. Currently, 25% of American households rely on financial advisors to help plan their retirement, but those numbers are bound to increase as the Baby Boomers gradually age into their post-65 lifestyles over the next decade or so. So, what does this mean for you? Find a financial advisor while you can.

The best investment advisors are out there
, waiting to advise. Your retirement is also out there, waiting for you to enjoy it. See a correlation there? Get on the hunt and find a financial advisor today. The sooner you do, the sooner you start counting down the days. For more about this, go here.

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