Retirement - Finding an Investment Planner

Finding an investment planner takes a little research. Many turn to friends and family for recommendations, but the planner thatís right for your less-than-conservative co-worker might be wrong for you, who may be hesitant to take risks with your hard-earned money. On the other hand, the experienced planner whoís always handled your fatherís investments may not be well-versed in the latest products that are attractive to someone your age.

Each planner has their own favorite investment vehicles, but itís best to find one thatís open-minded about a number of tools for financial success.

It may be wise to avoid the kind of financial planner whoís tied to a particular investment product, such as life insurance or IRAs, and may hesitant to recommend the vast variety of additional investment products available to you. So-called ìindependentî financial planners may offer more diverse options.

Be sure to ask plenty of questions before you invest. Youíll need to know exactly where your money is going, what your risks might be, and what rate of return you should expect. If your financial planner doesnít take the time to carefully access your current financial situation and your needs for the future, find a different planner.

How hard your financial planner works for you will largely hinge on how he or she is paid. If the individual is paid by receiving a portion of the profits of your portfolio or a percentage of the value of your portfolio, he will be highly motivated to make the most of your money. Those who receive a commission per sale probably wonít be as inspired to produce.

Avoid purchasing from those who make ìcold callsî to your home, seeking your business over the phone, and remember, if it sounds too good to be true, it probably is!

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