A Quincy financial advisor can help you secure your future and achieve your goals. Quincy is known as the birthplace of the American dream and financial success is vital to achieving those dreams. But, this success requires a good blend of safe investments and asset allocations with potentially greater risks. A Quincy financial advisor can help you find the right balance to secure a stable and prosperous future in MA and give you the ability to realize your dreams.
A Massachusetts advisor may be known by many titles such as a broker, investment advisor, or financial planner; but, these titles are selected by the individual and simply describe the nature of their practice and not necessarily their ability to handle your financial portfolio. So, regardless of the title it is important to fully understand their qualifications. Any professional that you trust with your assets should be educated, licensed, and registered to practice in the state of Massachusetts. They should also hold a strong reputation within the Quincy community and have a proven track record of success.
Whether you are facing parenthood or retirement in MA, it is important to establish a solid financial plan. Turn to a Massachusetts professional for advice in a wide variety of areas. Initially they may strengthen your current cash flow situation by creating a clear budget and by forecasting your needs. They may then provide guidance in the areas tax liabilities, insurance policies, estate planning, as well as short and long term investments such 401k, IRA, or Roth IRA.
Success is defined by the individual, so it is important that your Quincy financial advisor understand your individual situation and goals so they can minimize your risk and maximize your money. It is important that you provide your free financial advising service with all relevant information for them to understand the full scope of your current and future situation. For example, you should share any significant life changes in the near or distant future that will be a drain on your pocket book such as sending your child to college, paying for your child's wedding, or caring for a loved one.
They should also have a clear picture of your priorities as well as short and long term goals. Some people may choose to allocate less money to investing in order to have money to travel and vacation on a regular bases, while others may wish to opt to be frugal now to invest in their future. It is vital your trusted Quincy professional know the things that are important to you so that their advice is always a reflection of that.
There are typically 3 types of compensation agreements that a Quincy financial advisor will establish with their client. It is important to understand these compensation plans and to carefully select a Quincy financial advisor that will establish an agreement you are comfortable with. Commission based compensation is a plan where the advisor makes a percentage of your investment yield. The benefit of this compensation plan is that your Quincy advisor only makes money when you do, which means they have added incentive to choose investments that are highly profitable. However, this could also mean that the Quincy financial advisor may choose their best interest over your own with higher risk short term options rather than stable long-term ventures.
Another form of compensation is by way of fees. A fee only compensation plan has a clear set of hourly rates or specific financial planning and management charges. Fee only compensation can reduce the risk of conflict of interest and ensure that the Quincy financial advisor gives advice that is solely beneficial for the client. A retainer is also considered a fee. It is important to note that with this compensation plan, an advisor can't receive finder's fees, bonuses, or any other form of commission or financial compensation from the client or companies in which the investments are placed.
A Quincy financial advisor may refer to themselves as fee based which is not to be confused with fee only compensation plans. This compensation plan allows them to both charge for their services and receive commissions on your investments. A broker often utilizes this type of compensation agreement. Take the time to review the agreement to be sure that you fully understand the method in which the services you receive will be paid.
The world of finance can be an overwhelming place. And, although you may not have all of the tools to make well informed money decisions on your own, you do have the tools to select an individual who can help to guide those choices. Choose an educated Quincy financial advisor with a solid reputation so you can focus on chasing your dreams and enjoying your life in Quincy, MA.
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"Unless you already know about working with an advisor, it can be hard to figure out which one to go with. This site helped me decide on the type of advisor that was right for me and my financial situation. Thanks!"
Randy S, Green Bay WI
Fredric Weldon, CFA
Polaris Advisors, LLC550 Cochituate Road
East Wing, Floor 4, Suite 25
Framingham, MA 01701