Whether you’ve come into a large inheritance or suddenly find your income rising, a financial planner can help you manage your future. Creating a financial plan can help your family at any income level, as this allows you to cover your savings and investments, plan for retirement, education and emergencies. However, you need to first do your research and know what to expect when meeting with a financial planning service.
Fee Only or Commission
Fee-only financial planners don’t make money from the money management products they suggest to you. As a result, you know your flat fee every time you go in for a meeting. In the unregulated world of financial planning, fees and commissions can vary dramatically with the expertise and experience of the financial planner. While some planners charge a commission based on the percentage of assets they are managing, others will charge a flat fee for a comprehensive financial plan.
Financial Fit
If you’re ready to invest in retirement planning in Tucson, you can start asking family, friends and business associates for recommendations. Next, contact each financial planner’s office and ask whether or not they work with clients at your income level. Some financial planning firms set minimum requirements of money to invest. Most planners don’t charge for an initial meeting, so take the opportunity to ask a potential advisor questions that gauge your chemistry if you work together.
Realistic Expectations
A financial planner shouldn’t make any guarantees to increase your money on investment. However, in Tucson retirement planning, your advisor can assess your financial situation to help identify your financial needs and goals. He or she can also explain the pros and cons of different options and financial instruments while reviewing your progress to ensure you are on the right financial track.
Financial Directions, LLC utilizes numerous professional relationships within the financial services industry to provide highly flexible, efficiently priced client solutions. We work on a mutually agreed upon fee, so you don’t face any hidden charges. To learn more about retirement planning in Tucson, call (520) 408-7777.
