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5 important questions to ask a financial advisor

5 important questions to ask a financial advisor

Financial planning is a complicated endeavor that does not stop with simply opening savings and certificate of deposit accounts. You need an expert who can advise you on the best investment and diversification strategies for building a solid portfolio to secure your financial needs. But before hiring a good advisor, it is essential to understand how the process works and how to proceed from here. These questions can be a starting point.

Here are the five questions you must ask a financial advisor:

  • What are your qualifications?
    Financial planning is a vast topic with several areas of specialization in practice. So, you need to understand whether the advisor provides assistance for financial planning in general or focuses on a specific aspect of portfolio building. Primarily, they practice with a Certified Financial Planner (CFP) qualification approved by federal regulatory authorities and guidelines for safe practices.
  • What is the range of services you offer?
    Their experience will vary depending on the type of services provided, ranging from planning for retirement to tax mitigation strategies and real estate trust services. Some CFPs work as fiduciaries, ensuring they keep your best interests at heart when planning and strategizing your finances. You must also check to confirm any disclosures on the record of previous misconduct or legal sanctions imposed on their range of services.
  • Do you work for a commission or a fee-only structure?
    Fees for professional services are one of the primary modes of payment for a CFP. But financial advisors can use multiple payment structures. So, you will have to confirm this before hiring them for a single session or keeping them on retainer. Discussing fee-only structures to avoid confusion and conflicts at the time of payment is better. You will also want to confirm “all-in costs,” as ambiguity in these terms can create hassles during payment.
  • Is there a threshold on the minimum investment?
    You might have a limited budget to work with, so discuss that when you meet your potential advisor. Financial advisors generally work with clients who can invest and maintain a minimum balance to keep the portfolio active.
  • What is your investment philosophy?
    While the end result is to make money with your investments, you must also discuss and understand the different ways of achieving this goal. Advisors adjust their investment strategies after considering the involved risks and other market factors. If you want a more conservative approach, discuss this with your advisor so your portfolio is not diversified among risky assets like stocks and mutual funds.
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Top automated investing services that make investment easy for all

Automated investing services or Robo advisors are becoming popular by the day, and financial experts around the world only expect to see a surge in their usage. This is because these intelligent services offer one crucial advantage that many investors benefit from: low-cost financial advice. With many top financial services companies jumping in the race to provide customers with the best automated investing services, there are plenty of great options available for every kind of investor.What is a Robo advisor and how much does it cost?A Robo advisor is a digital platform that provides algorithmic-driven money management services that require virtually no human supervision. It does this by collecting client data like financial situation, future goals, and other details through an online survey. This data is then used to automatically manage clients' assets and provide them with the most suitable financial advice. Robo advisors are immensely cheaper than human financial advisors. Most services only charge an annual management fee that is anywhere between 0.25% and 0.5% of the account balance. Depending on your need, you can even find good Robo advisors that offer services free of charge and low minimum balance value. Top Robo advisors in the marketThere are several low-cost Robo advisors that you can choose based on your needs and preferences. Here are some of the best automated investing services or Robo advisors available in the market today.BettermentBetterment is one of the oldest and the most popular players in the industry. It allows clients to invest in a range of funds chosen for you to improve returns. It offers automatic rebalancing, tax-loss harvesting, a personalized retirement plan, and can even sync your outside holdings like bank accounts and any other investments. At extra cost, you can up your investing game by talking to a certified financial advisor on the phone.Management fee: 0.25%Account minimum: $0https://www.betterment.com/investing/SoFI InvestA go-to choice for student loan refinancing, SoFi has now expanded its services into automated investing with its user-friendly investment management system. The company provides goal-based planning, automatic rebalancing, and diversifies your money to help reach your financial goals. Plus, you’ll receive member benefits like career services, discounts on SoFi products, and the opportunity to speak to a human advisor—everything at zero cost. Management fee: noneAccount minimum: $1https://www.sofi.com/invest/automated/WealthfrontWealthfront is one of the largest automated investing companies that offer both short and long-term financial goal planning. Its software builds a diversified portfolio of low-cost index funds to improve your returns and offers time-tested investment strategies that automatically look for profitable opportunities. Management fee: 0.25 percentAccount minimum: $500https://www.wealthfront.com/Charles Schwab Intelligent PortfoliosCharles Schwab is one of the most trusted financial services companies that launched its own Robo advisor that helps build, monitors, rebalances a diversified portfolio based on your goals, and provides 24/7 customer support from US-based service professionals. With Schwab, you are not charged any advisory fee or commission and can invest in a portfolio of low-cost exchange-traded funds (ETFs).Management fee: noneAccount minimum: $5,000https://intelligent.schwab.com/

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Avoid these 4 mistakes to prevent financial fraud

In recent years, there has been a rise in online financial fraud incidents. Scammers and fraudsters use fake websites, emails, text messages, and phone calls to steal people's personal data, including bank accounts and social security numbers. They employ various methods to deceive individuals into giving away their valuable private information, all with the intention of stealing their hard-earned money. To prevent financial fraud, here are some mistakes you should avoid. Don't fall for claims that say you have won a prize One common method scammers use to obtain private information is by posing as representatives of popular brands or organizations. They may claim that you have won a lottery or that someone entered you into sweepstakes and you have won a large sum of money. But to receive this money, you will have to pay a fee. Under this pretext, they might steal your bank account information and siphon off all your savings. Do not fall for calls from scammers pretending to be from an organization you know Often fraudsters pretend to be representatives of the government. They use real names of federal agencies such as the Social Security Administration, Medicare, or the IRS. Some even make up names that sound official. Sometimes, scammers will tell you they are calling from a business you may know, such as a popular tech company or a utility company. One of the common ways of impersonating an organization is by claiming that they are contacting you on behalf of a famous charity to ask for donations. In such cases, the phone number is masked to look legitimate on your caller ID. Don't believe someone who says you might be in trouble To avoid financial fraud, it is important not to trust someone who calls you and claims you have a problem. They might falsely assert that you owe money to the IRS or have violated the law and are in trouble with the government. They will use legal jargon to convince you about the same. Scammers may try to deceive you by claiming that a family member is in an emergency or posing as a representative from your computer company, stating that there is malware or a virus on your personal computer. They may request you to verify personal information, which can lead to them secretly obtaining access to your important login information and passwords. Never agree to pay money through links sent by text or email from suspicious phone numbers and email addresses Be cautious of requests for payment that come through email or text. Scammers may try to pressure you into paying in a certain manner, such as through cryptocurrency or money-transfer services. They may even suggest putting the payment on a gift card. Stay alert and be wary of such demands. They will provide you with a link that will direct you to a legitimate-looking webpage. Here you will be asked to fill out your account details and share private data such as birth date, home address, etc. To avoid financial fraud, always keep in mind the above-mentioned points when making transactions. Make sure to authenticate the legitimacy of any email, text message, or pop-up box before disclosing any personal information.

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Hyperkalemia – 10 foods to avoid

Potassium plays a huge role in the health of our heart muscles and nerve cells. And high levels of this element in the blood cause hyperkalemia. If you consume meals high in potassium, your doctor may advise you to decrease portion sizes and concentrate on fruits and vegetables with a lower potassium content. Here is a list of foods rich in potassium that must be avoided if you have hyperkalemia. Yogurt and dairy products A serving of nonfat yogurt weighing eight ounces has roughly 625 mg of potassium, making it one of the dairy aisle’s highest sources of potassium. Even reduced fat milk contains 366 mg of potassium in a glass of cow’s whole milk. Ricotta and cottage cheese are also high in potassium. Goat cheese is a low potassium food, proving that not all cheeses are made equal. Likewise, About 131 milligrams of potassium may be found in a half cup of vanilla ice cream. Bananas When people consider foods high in potassium, bananas frequently come to mind. A banana normally contains 422 mg of potassium. Among all the fruit, bananas are athletes’ favorite as they provide energy. However, it could be highly dangerous for someone suffering from hyperkalemia.
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10 incredible anticipated Black Friday jewelry deals

If you have been meaning to buy that beautiful solitaire ring or those stunning earrings, this Black Friday sale is the best time to do it. It is the time when you can restock your jewelry stash and even find some great gifts and keepsakes. We have sorted through hundreds of 2021 Black Friday deals and found the best ones so that you can keep an eye out for similar offers this year too. 10 expected Black Friday jewelry deals you cannot miss Pearl stud earrings One of the few things that have stood the test of time is pearl jewelry. It is classy, stunning to look at, and represents femininity and strength. Much more than just a trend, pearl necklaces are perfect for women of all ages. Macy’s cultured freshwater earrings are 7mm in 14k gold. These earrings could be available for almost $100 off in the Black Friday sale. Stacked rings One of the latest trends to hit the fashion circles, stacked rings are definitely gorgeous. They make you stand out from the crowd without making you look overdressed. KAY Jewellers might offer almost 70% on selected stacked rings in their range. It could also offer further discounts with an email sign-up.
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Black Friday will be here soon, presenting pet parents an opportunity to stock up on food for their feline friends without spending a lot. There will be plenty of discounts from the top pet food brands, including Royal Canin and Purina. But if you cannot wait until then, check out these ten fantastic deals that are available right now. Take your time researching well and pick the healthiest options for your cat! Merrick Purrfect Bistro Grain-free Healthy Weight Recipe Dry Cat food This grain-free recipe ensures your pet gets the proper nourishment and maintains a healthy weight. Besides promoting weight control, it supports the muscles and improves digestive health. The product is already available at a discount of 7% on Chewy, but you can expect a better deal during the year-end sale. Wellness Healthy Indulgence Gravies Grain-free Variety Pack This variety pack makes mealtimes quick and easy. Created by nutritionists and veterinarians, the recipes are enriched with the finest ingredients to promote your cat’s well-being. Petco is offering a discount of 5%, but you can get it at an even lower price by opting for repeat delivery. Tiki Cat Queen Emma Luau Variety-pack Grain-free Canned Cat Food You can save 10% on this variety pack from Tiki Cat at Chewy.
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