Best Fee Only Financial Advisor in Buffalo NY in 2020
Best Fee Only Financial Advisor in Buffalo NY in 2020
We all need a little help with your finances sometimes.
In fact, professional help can be a real plus as your finances gain in complexity.
As you consider the implications of retirement planning, sending your kids to college, and investing for income, it can make sense to talk to someone who knows what he or she is about.
Even if all you need is a little help figuring out your budget, or making a plan to reduce your debt, it can be a good idea to get professional help.
If you are looking for some professional help with your investments, budget and retirement planning, you should look for a financial planner.
However, it’s important to understand that not all financial planners are the same.
They are paid in different ways.
If you are looking for someone to help you, and has your best interests in mind, you should hire a fee-only financial planner.
What are Fee-Only Financial Planners?
Fee-only financial planners get their income from you, at $100-$250 an hour, to create a financial plan suited for you. Their fees are clearly laid out so that you know exactly what you are paying for and how much.
In some cases, fee-only planners receive their fee as a result of assets under management. If your portfolio and net worth grow, the financial planner gets a bigger fee. If your financial planner receives an annual fee that equals 1.5% of the assets he or she manages for you, it’s in his or her best interest to grow your wealth.
What are the benefits of getting a financial advice?
If you buy an investment product based on financial advice and a recommendation, you should get a product that meets your needs and is suitable for your particular circumstances.
Depending on the type of adviser you use, you might also have access to a wider range of choices than you’d be able to assess realistically on your own.
You also have more protection if things go wrong if you buy based on advice.
For example, protection would be given where unsuitable advice was given, or your adviser is found to have not acted in your best interests. Similarly, non-advised investors would also be protected if they were misled or mis-sold a product.
How to Choose a Fee-Only Financial Planner in Buffalo NY
You need to make sure that your financial planner understands your situation, and can make reasonable suggestions.
One of the best ways to start figuring out who to hire is to ask around. Ask family, friends, and co-workers for the names of fee-only financial planners. Then, research their credentials. Find out if they belong to a professional organization, and if they are properly licensed to offer the services that they claim.
Narrow your list down to three or four financial planners, and schedule a sit-down.
Many planners will offer you a free half-hour or hour initial visit to look at your situation.
Get a feel for the planners’ styles.
Ultimately, you need to feel comfortable with your financial planner, so this “interview” can be a good way to determine who you will work well with.
The right fee-only financial planner can help you get your finances on track, and help you plan for a successful future.
Financial advisors can add value in other ways. For instance, they can help you determine the appropriate amount of risk to take with your investments, they can help reduce the taxes that you’ll pay, they can help you cut debt, assist with budgeting, work with you in selecting a retirement income strategy and be there to calm your fears when markets are melting down. These are just a few examples — there are many more.
Best Fee Only Financial Advisor in Buffalo NY
Everything that we do in life is grounded with why. But more often than not, we don’t really think about why we do what we do.
You have goals that you want to achieve in life, in your career, and with your finances.
When was the last time you really thought about why your goals, daily rituals, and habits are what they are?
Are they propelling you forward towards a more fulfilling life or are they holding you back?
If we don’t take the time to look through this lens once in a while, all of a sudden life will not be as we intended.
We like to ask our clients why money is important to them. While money isn’t all that exciting in and of itself, we do use it as a tool to make personal choices such as buying a house, sending a child to school, going on a vacation, and funding retirement. These choices help shape who we are as people.
At Mintco Financial, we help professionals and families navigate the complexities of personal finance.
It’s true; all advisors say that they are trustworthy, but we go further. Our firm is structured to eliminate conflicts of interest, often creating a lack of trust between advisors and clients. First, we are fiduciaries. This means that we are legally bound to put your interests ahead of our own.
Contact us to schedule a complimentary first meeting at 716-565-1300
Email us info@mintcofinancial.com