Most referrals come through the local branches, which work with an average of eight to ten area investment managers. Because the local representatives are familiar with investment managers, they can make referrals that they think are a good fit. It s a lot more personalized than getting names through a toll-free telephone number. Not everyone has the time or inclination to go it alone. Emotionally, it is much easier to invest on your own when the stock market is on a roll.
People decide to search for a financial advisor for a number of reasons.
For some, the quest begins with the realization that retirement and college funding issues are just around the corner. Jonathan Lehrer, a public relations manager and his wife Estee, a teacher s aid, began their search for a financial advisor about a year ago after admitting that while they didn t want to manage money, they needed to find someone who could. But we knew we needed help, because we had never even invested in mutual funds before. We re experts in some things, but not in personal finance. For others, the catalyst is a sudden, unexpected windfall such as an inheritance, a rollover from a corporate retirement plan, or a divorce settlement.