This video reveals 6 tips to help find a financial advisor. It is narrated by Powerball winner and podcaster, Timothy Schultz.
TIP#1
Be skeptical about the word “advisor”. There are plenty of people who claim to be financial experts, but it’s important to look critically at their credentials.
TIP #2
Seek a fiduciary. Financial advisors that are fiduciaries are legally bound to act in your best interest. Make sure they are a certified financial planner (CPA). The other type of financial advisor is held to a different standard. They are held to what is known as a suitability standard and may make decisions in their best interest rather than your own.
Search for certified financial planners at WWW.CFP.NET:
TIP #3
Financial advisors typically work for a fee or on a commission. Understand how they get paid and make a decision that is best for you.
TIP #4
What are your goals with investing the money?
TIP #5
shop around. There are plenty of qualified financial advisors. Make sure they are credible and experienced.
TIP #6
Transparency and trust are very important. Make sure there is complete transparency, accountability and trust before signing on a financial advisor.
Timothy Schultz is a podcaster and Youtuber with Bullhead Entertainment, LLC. In 1999, he won the Powerball before going back to college to study journalism and broadcast news. He’s now combining his experience to launch this podcast.
This channel has an emphasis on overcoming the odds and the belief that anything is possible. Previous guests have included the winner of the first American season of ‘Big Brother’, a near death-experience survivor and several lottery winners, among other guests.
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0:00 Intro
1:38 How to find financial advisors
1:44 Be skeptical about the word advisor
2:29 Seek a fiduciary
3:37 Fee only vs. commission
4:47 money goals
5:33 shop around
7:14 Transparency and trust
8:56 Comment with your thoughts!