GETTING A FOR YOUR BUCK

1) ARE YOU A FULL-SERVICE ADVISOR AND WHAT PRODUCTS DO YOU OFFER?

“You need a diverse portfolio to truly meet your fi nancial needs. Make sure your advisor sells stocks, bonds, mutual funds and annuities, as well as insurance.”

2) WHAT’S YOUR FEE STRUCTURE?

“It’s important that your advisor provides you with a written estimate of the fees and charges you will pay on an ongoing basis. The advisor should also thoroughly explain those costs to you. Be sure you understand these costs because there are advisors out there who will sell you anything for a commission, whether it’s right or wrong.”

CENTS-LESS SPENDING

Many people throughout the world view Americans as materialistic and wasteful spenders. Based on the following numbers, their perception may not be far from reality.

3) WHAT WILL YOU DO IF THERE IS A CONFLICT OF INTEREST IN INVESTMENT STRATEGY?

“For example, if you’re semi-conservative with your money, your advisor should not make a risky investment just because it gives him or her a high payout. Conversely, when clients desired to make an investment I felt was wrong for them, I had them sign a letter that the investment went against my advice.”

4) WHAT KIND OF LICENSES DO YOU HAVE?

“Make sure they have both a Series 7 and Series 66 license. Having these ensures they are fully rounded financial advisors who can sell stocks, bonds, mutual funds, insurance and other types of financial products.

5) WHAT’S YOUR EXPERIENCE?

“Ask them if they have any special designations, such as certified financial planner or chartered financial consultant. Also, ask if they receive any ongoing training or education so that they’re up to speed on the latest changes and trends in the financial industry.”

$66.5 BILLION

HOW MUCH AMERICANS SPENT ON LOTTERY TICKETS IN 2011

According to CNN

$1,092

HOW MUCH REGULAR COFFEE DRINKERS SPEND ON COFFEE EACH YEAR

According to a survey by Accounting Principals