The more prepared you are, the better and less costly the help of an advisor may be. Check telephone directories to see what financial services are available in your area. Talk to friends, relatives, professional groups you are involved with, and others whose advice you trust. If the advisor or the advisor s firm is registered or licensed by a state agency that requires compliance with education and ethics requirements, then you will have some recourse through regulatory actions in the unlikely event that your advisor violates ethics regulations. Be prepared to pay for the investment advice you receive.
Some advisors work for a fee only, some work on commission, and others combine commissions and fees.
An advisor who either sells a variety of investments or offers only advice may be preferable. When investment advisors incomes depend on sales, their advice may be slanted toward the products or services sold by the firm they represent - which may or may not be the best choice for you and for which they earn a commission. This potential bias is of special concern when financial advisors handle only a few types of investment alternatives. Before making a commitment to an investment advisor, decide if the time and money is justified. Be sure to agree on the fees in advance.