Finding Fiduciary Financial Advisors In CT As Opposed To Suitability Brokers
A general rule for investing is that you don’t put money into savings that you may need for expenses tomorrow. An investment is meant to build up over a particular amount of time and not seen as trying to earn a fast dollar. The problem is, that over the last four years the financial industry itself has changed and brokers want to make a fast buck. This poses a juxtaposition of interests between the investor and the broker that is representing them. If you are trying to find financial advisors in CT make sure that they are looking out for your best interests.
There are two goals in which a financial advisor can employ in order to make your portfolio grow. One route is a fiduciary responsibility to their client. A broker that wants to make the most for a client will do so only by pursuing avenues that will put the clients building up of finances at the top of their responsbilities. The other avenue is pursuing suitability aspect of the client with its investments. A suitable option to a clients needs are quite different than what a client thinks is best for them.
While it may be impossible to predict the future of investments with a crystal ball, there are ways in which you can choose routes that are best for your situation. For instance when you are younger you can afford to be a little riskier with your money. Obviously you are in it for the long term but that does not mean you can’t hedge your bets and pursue stocks or bonds that may have a higher potential earning yield. When you are older, you want to be more conservative with your money in the even that you do need the money sooner rather than later.
Find financial advisors in CT that both match your desire for long term saving as well as your request for risk. Over time both goals may change but when you hire someone to care for your investments you should be confidant that they are following their fiduciary responsibility to you as opposed to their suitability desires.