Control your personal finance   free website content | contact | privacylink partners
Home » Miscellaneous
Money articles

» Personal finance
» Credit cards
» Saving money
» Debt elimination
» Budgeting
» Investing
» Business
» Real estate
» Making money
» Miscellaneous
» Career
» Loans
» Promote your business
» Insurance
» Bankruptcy

» Archive

Working with a financial adviser

(NC)—With a steadily increasing number of investment choices in the market, it's easy to become overwhelmed. Without a plan in place, or the guidance and discipline to reach financial goals, it's easy to be tempted by the latest hot market fad. But this can result in investment portfolios not being aligned with financial goals. Investors may take on more risk and volatility than they want, and may experience poorer performance.

How can you protect your finances and meet your financial goals? The answer is simple: work with a professional financial adviser.

Ted Twohey, a Bowmanville, Ontario-based CIBC Imperial Service financial adviser, shares his advice about working with an adviser. "A professional adviser has the qualifications, the expertise and the necessary tools to help investors focus on the long term," says Twohey, "which is key to achieving your goals."

A good financial adviser will help you build a plan that takes into consideration your current priorities at the same time as it builds for your future financial needs. An adviser should meet with you regularly to monitor progress and make necessary adjustments.

Your adviser should be committed to:

  • Meeting with you personally to discuss your approach to handling your finances and helping you meet your long-term goals;
  • Answering any questions you may have about his or her professional qualifications, experience and compensation;
  • Scheduling regular sessions with you to review your plan;
  • Keeping you up-to-date on any changes to your investment portfolio; and
  • Informing you of any new investment opportunities that might be appropriate in your circumstances.

As with any relationship, it takes two-way communication to make it work. Your responsibility is to share your goals, risk tolerance, and all the information your adviser needs to manage your total financial picture. Be sure to keep your adviser informed of any changes.

Working together for the long term with your financial adviser is one of the most effective ways to meet your needs today while building for the future you want.

This article is intended to provide general information and should not be construed as specific advice. This article is not applicable in Quebec.

- News Canada

Top 10 questions to ask your adviser

(NC)—Financial Planners Standards Council (FPSC) recommends asking these 10 questions when selecting a financial adviser:

  1. What are your qualifications?
  2. What experience do you have?
  3. What services do you offer?
  4. What is your approach to financial planning?
  5. Will you be the only person working with me?
  6. How will I pay for your services?
  7. How much do you typically charge?
  8. Could anyone besides me benefit from your recommendations?
  9. Are you regulated by any organization?
  10. Can I have it in writing?

- News Canada

About the author
News Canada provides a wide selection of current, ready-to-use copyright free news stories and ideas for Television, Print, Radio, and the Web.

News Canada is a niche service in public relations, offering access to print, radio, television, and now the Internet media, with ready-to-use, editorial "fill" items. Monitoring and analysis are two more of our primary services. The service supplies access to the national media for marketers in the private, the public, and the not-for-profit sectors. Your corporate and product news, consumer tips and information are packaged in a variety of ready-to-use formats and are made available to every Canadian media organization including weekly and daily newspapers, cable and commercial television stations, radio stations, as well as the Web sites Canadians visit most often. Visit News Canada and learn more about the NC services.


Search CashBazar

Google
 
Web www.cashbazar.com


Latest money articles

» Controlling the price changes in futures markets
The lock-limit is one way that the markets can be controlled.

» How much will price changes effect stock trading?
Price elasticity is an economics term that refers to the way that price changes of stock can affect the demand for that stock.

» Large volume trading in steps
Program trading is a term that is also used in at least two different (though similar) meanings.

» How many stock options are available?
Open interests are not a feature of all stock market trades. In fact, open interests are calculated based on options and futures trades.

» Protect your portfolio from large losses
If you are worried about the stock market, then you might want to consider portfolio insurances.

» Insure your investment without limiting returns
Are you looking for a way to trade on the stock market without having to deal with all of the risks?

» Regional funds explained
Increase your portfolio diversity with funds from other regions.

» What is a derivative?
Invest in commodities without buying the commodities themselves.

» What is an option?
An option is an agreement that a commodity or stock will be available for purchase at a set date.

» Should I always pay a commission when buying mutual funds
There are three main types of mutual funds when it comes to commissions.

» Find the lowest risk investment portfolio
If you're trying to find a good investment portfolio, then you may want to look at the Treynor measure.

» The difference between PAX World Funds and The World Funds
The first type is purchased through the company PAX, and these funds focus on socially responsible companies.

» The Alpha factor explained
A new method of differentiating between different investments.

» How good is your planned investment
A company prospectus is a legal document that has been filed by the company that you might be thinking about investing in.

» How do I find the best investment advisor?
If you're looking for the best investment advisor for you, you should make sure that you pay attention to the type of investments that that advisor usually recommends.

» How to find the best full-service stockbroker - ask questions
Before you decide who you should choose for your full-service stockbroker, make sure that this is the best option for you financially.

» Investing in commodities
Investing in commodities is not too hard to do - the real problem comes in when you are trying to decide which commodities you should invest in, and when it is better to buy or sell a particular product.

» Don't wait to get your retirement payments!
If you're looking for an annuity, there are a variety of different annuities to choose from.

» Multisector bond funds explained
If you are looking to invest in bonds, but you are not sure that you want to deal with making all of the purchases on your own, bond funds might be the right option for you.

» Private annuity explained
The biggest difference between a regular annuity and a private annuity is that private annuities take place between two individuals, instead of between an individual and an insurance company.

» Avoid estate taxes with a life insurance trust
If you're looking for another way to insure yourself with a life insurance policy that will avoid any taxes after your death, then you should look into getting a life insurance trust.

» What is a Section 1035 policy exchange?
Don't lose insurance money when you change policies.

» Who should consider annually renewable term life insurances?
If you're looking for a good insurance policy, then you should probably take a good look at your financial situation, and at what you can count on being your situation in the future.

» Death benefit only plan explained
If you need life insurance, but you are not able to afford the regular price for life insurance, then you might want to look into a death benefit only plan.

» How to save money on your homeowner's insurance
In the case of homeowner's insurance, the most common way to reduce the amount of money that you will be paying each month is to increase your deductible.


Make money online

Please visit Sitetube.com and learn how to profit from your website.