It is common knowledge that people with large portfolios of stocks, bonds, and other assets use financial planners to help manage it all. High powered financial planners assist their wealthy clients with managing assets, setting sustainable spending limits, and selecting the best investments for their lifestyles. But, financial planners are not just for the wealthy.
Financial planners are valuable for anyone wanting to take total control of their financial assets since their primary job is to manage your money. They are particularly beneficial when it comes to retirement planning since they can help you maximize the returns on your investments. Many financial planners are paid based on a percentage of your overall portfolio or the gains credited to your portfolio based on the investment recommendations. But a new fee structure has made the services of financial planners more accessible to potential clients than ever before.
Monthly pay-as-you-go financial planning services are incredibly affordable for middle class clients. With a start-up fee ranging from $99 to $399, depending on the size of the portfolio, nearly any middle class individual or couple serious about taking control of their financial future can afford to get professional help. And the monthly fees are affordable too, at about $19 per month for many services.
So, what is the best way to select a financial planner if you are not rich and famous? Start by interviewing several firms. A good way to obtain a list of affordable financial planners is to do an internet search. Then contact three or four of them and compare their rate structures and fees. Also, don’t be afraid to ask friends and family members for recommendations. You would be surprised how many people you know use the services of a financial planner and can give you the name and number of someone they trust.