You also want someone who you can easily understand, so that you get all the information you need, without wasting your time. The longer advisors have been in the business, the more likely they are to have assistants who will handle some aspects of your business. There is nothing unusual about this practice, but it is a good idea to know before you start dealing with an advisor. Ultimately, however, your advisor is the one responsible for investment decisions and directing the long-term development of your portfolio. Assistants are frequently responsible for carrying out the daily administrative requirements of your account.
Advisors usually earn a commission for every investment they buy or sell.
Certain investments pay advisors more commission dollars than others, usually because they require a higher level of service. For more details on mutual fund charges, consult the prospectus that pertains to the mutual fund you plan to purchase. During your first meeting, financial advisors will be looking for as much information about you as you are looking for about them. Look for someone who listens carefully, asks specific questions, and understands what you are saying. They will also ask you questions to determine your level of investment knowledge and experience and learn how comfortable you are with different types of investments.