It’s a common misconception that you only need a financial advisor if you have a lot of money to invest. Nothing could be further from the truth. The fact is, novice investors and those on a tight budget need more advice than anyone so they don`t end up spending a large portion of their discretionary income on poorly performing investments.
That`s why everywhere you look, there are so-called experts trying to convince you to invest in their product or service. You see commercials on TV, receive brochures in the mail, and even endure annoying telephone pitches.
The following primer is designed to help you understand the role of different types of investment experts, what services or products they provide, how they get paid, and the benefits and disadvantages of using them.
What is a Financial Advisor?
This section provides an overview of the different types of financial advisors and the titles they go by.
Discover what they offer and how they make money.
Mutual Fund Companies
With over 9,000 funds available today, mutual fund companies play a major role in the investment industry and have introduced millions of Americans to the magic of compound interest.
Banks have fought hard to earn a piece of the pie within the growing investment industry. Learn what your local branch has to offer when it comes to investment services.
They’ve got lots of money and continue to introduce new investment products that pervade the industry and control the purse strings of American investors.
A rising tide, online investing runs the gamut from checking account balances to launching day trading millionaires.