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Financial advisory is no longer a trend that you have to wait for to get popular. It is already very common. And there are more and more people who are making it their profession. Many financial advisors offer investment advice, and this is where the problem arises.
How do you know which one to trust?
How to Choose A Good Financial Advisor?
There are so many ways to pick a good financial advisor. And there are some simple ways as well. Here are some tips that you can use in your search for a good financial advisor.
Does the advisor’s portfolio meet your investment needs?
You need to know that there is over one way to have a successful portfolio. One way is to invest in an index fund. An index fund buys shares of stocks that match the stock market index.
It has low costs and the costs are lower than the ones you pay when you do it yourself.
Does the advisor give proper service?
Service can be anything from being very prompt at returning calls and emails to answering all questions correctly and promptly, even if it is something you have been thinking about for a long time. They also need to be available to you and take the time to explain things.
Does the advisor listen to your needs?
If you have asked them what they think your best investment plan is, they should ask you what you think your best investment plan is. This means that they should listen to what you have in mind and then make suggestions on how they can help make it happen.
Does the advisor follow up?
You should feel comfortable talking with them about your investments. If you don’t feel comfortable, then this means that the advisor doesn’t know how to work with people and do business.
A good financial advisor will follow up on every single question or comment that he has made regarding your investments. He will not just ask for money when it is time for him to get paid! This is called a true financial advisor!
What is Motley Fool?
Founded in 1993, Motley Fool is a financial services company that provides various investment tools to help people make informed decisions
The Motley Fool owns and operates two mutual funds that can be accessed through their website: Motley Fool Inside Value Fund and Motley Fool Champion Stock Fund.
Their other premium services include The Stock Advisor, The Rule Breakers, the Magic Formula, and a couple of options that you can buy or sell, like a stock index fund or a bond index fund. They also have the book and audio versions of The Motley Fool’s Guide to Investing.
What Is Motley Fool’s Latest Ultimate Buy?
Motley Fool's ultimate buy refers to the stocks both Tom and David Gardner recommend. Motley Fool’s stock picks are well researched and the recommendations come from an investor who knows what he is talking about.
When Motley Fool’s picks are strong, they make a tremendous difference to your portfolio. Therefore, it is important to know what their current ultimate buy is.
For example, both Tom and David have agreed on Netflix and Tesla as their ultimate buy in the past. Their latest ultimate buy is an online advertising company called The Trade Desk.