Making smart financial decisions can be difficult. If you don’t know what to do, or what to look out for, it can be super hard. Financial advisors can help you simplify this complex process. When choosing a financial advisor, you want to pick one carefully. The right financial advisor can help you determine your goals, and achieve them. Ultimately, a financial advisor helps you prepare for retirement. At Delancey Street, we can provide small business funding which is instrumental as a part of the financial advisement process. In addition, we’ve created a financial advisor directory which you can use to find the right advisor for yourself.
You deserve the best Long Island financial advisor
Finding an advisor that fits your needs is hard. Sifting through thousands of advisors to find the best one can be a hard process. Our website helps you by doing the work for you. We identify local advisors in your area, and narrow it down so you can save immense time doing research.
Our goal is to help you grow your assets. We empower you by helping you learn about financial advisors. From big cities too smaller cities, we can help you find a local advisor who is suited to your exact needs.
Why should you hire a Long Island financial planner to manage your money?
Financial planners connect the dots in order to provide you with a plan which meets your financial goals. The planner you work with should have training, and experience, when it comes to financial products and how they impact your life. Your financial planner will take into account equities, bonds, taxes, estate planning – everything, in order to make the right recommendations for your situation. Typically financial planners charge fee-only, or an hourly rate.
What certifications should your financial planner have?
Most financial planners have one or more certifications. While a financial planner can have any number of certifications, they should at least be licensed, and in good standing. Three of the most common certifications are CFP, CFC, and RIA. Certified financial planners have competency, and experience, in all aspects of financial planning. CFP has complete courses in over 100 topics of financial management. CFP have a fiduciary duty.
Choosing a Long Island financial planner who has experience dealing with circumstances similar to yours is crucial. You should make sure you choose a financial planner who has your best interests in mind, and can work with you on the products most suited to your needs. You should interview prospective financial planners and ask them about their credentials, history, and strategies.
You should speak to several financial advisors and find the one who has an investment style best aligned with you, and has a good track record, and is willing to talk about his fee structure/disclosure. If you work with a Certified Financial Planner, he/she has a fiduciary duty to put your needs and interests above his/her own interests. It is unethical for a CFP to recommend a product which is not in your best interest. When you hire a financial planner, he, or she, will ask you to fill out an extensive questionnaire in order to understand your financial needs and goals. They’ll put together a 5 year plan to improve your overall financial position. The planner looks for ways to reduce current and future tax liabilities, and protect your assets. Most financial planners are paid either on commission or fee basis, sometimes a combination of the two. You should ask each financial planner about his, or her, experience in a similar situation to yours. Second, you should ask about the financial planners education and certification. Third, you should ask how many products they offer.
The financial planning process begins
It begins with a “get acquainted,” meeting where the Long Island financial planner will review information you provide regarding your financial situation, like tax returns, insurance policies, asset statements, employee benefits, and more. The financial planner will want to know about your goals, values, and past experiences with financial planning. Typically, the financial planning process begins with a discovery about where you are now, and where you want to go. Typically, you want to discover as much as you can about the firm that is going to help you – and how they can assist you. It’s the job of the financial planner to understand you, where you are, and what your goals are. The financial planner helps you grow your assets, and protect them. It is illegal for any investment advisory firm to guarantee returns.