Why no financial advisors people smaller incomes?

There is a large market no to to tap it. Yes, it woud a to build a lot of people, me, managing finances credit issues, budgeting retirement investments we 39 t big bucks. Maybe if time to us there, we be as profitable as 39 big 39 income guys. We to teach us to started. Maybe a 39 mentoring 39 service long term. I it 39 s traditional financial advisor role innovation change 39 s of game. The of making money

Responses:

because we can not afford them
Because truly, you really do not need a financial advisor. A financial advisor is need when you have accumulated some wealth, or a life event such as proceeds from, a death in the family, etc. At your local bank you can set up an account and start investing in that. Put your money alittle bit at a time and it will accumulate. You are right, that's how people get rich, Little bit at a time. At the local bank you can put your money into mutual funds or even open up an IRA account. Truly, you do not need a financial ad visor at this time. And if you have debt now and want to figure out a budget plan, debt counselors help you with that. Good luck
dear, i can give you a very good website on finance, . actually it is going to be the best website for all by 2008. note down the site plse knowledgeguruji. googlepages.com / home
E - mail me and I will give you free advice about budgeting and investments. I do not have anything to sell - I just like to get people to thinking and challenge the conventional wisdom about personal finance challenge number 1: most of what you read about saving and investing is what mutual funds and other big advertisers want you to read, so it should be taken with a large grain of salt. I do not know anything about credit issues
Investment advisors work on a percentage of your ets under management. If you do not have much money, nobody can really afford to spend any time with you and still pay their bills. So if you have, say $20, 000 to invest not a lot for an investment advisor, he or she will only be able to take one or two percent of that. Your $200 or $400 per year is not really going to pay for an office, advertising, access to financial data one of those screens that tells you all the prices of things all over the world is over $2000 per month - the advisor would need more than one hundred small customers like you just to pay for the data screen. That said, I spent 11 years as a stock broker. Here's advice. Credit cards are for ers. Pay cash or do without. NEVER USE CREDIT CARDS. They are for ers. Pay your bills on time. Always. When you're ready to buy a house, that will count for a lot. When you buy a house, make 1 or 2 extra mortgage payments each year - the interest savings will add up to tens of thousands of dollars by the time your done paying. Investing: Buy and contribute regularly to an "Index Fund" which carries the lowest fees and allows you to invest in a broad index of stocks like the S&P 500. When the "market" goes up, so do your savings. Good ones are the Vanguard S&P500 Index Fund, and a similar one run by Fidelity. Go online and contact these companies directly. If you are older and require income, go to your bank and buy Series II US Savings bonds. They pay an interest rate that is linked to inflation II means "Inflation Indexed". The younger you are, the more Index Funds you should own. The older you are, the more Savings bonds you should own. A good rule of thumb is that you should own a percentage of savings bonds equal to your 1 / 2 your age i. e. if you are 28 years old, use 14% of your money to buy savings bonds, the rest in S&P500 Index funds. Adjust this as you grow older. When you stop working, move all the money from the S&P 500 fund into the bonds and live off of the interest till you die. Hope this helps. Its all free for you. And no "investment advisor" who lives off of sales commissions will ever tell you this both of the recomendations I have given you are commission free
I know that this sounds like a comercial, but try going to an H&R Block office during tax season and find a preparer with a few years experience. Block's vision statement is to become your tax and financial advisor and many of the seasoned preparers tax advisor or above have had training in retirement plans, employee benfit plans, and they even have a program through their bank for people who can not get a traditional checking account. The seasoned preparers do not cost any more than the newbies, so ask for a old timer who likes to chit chat and you will get your taxes prepared and a financial lesson included
They do - They are Consumer Credit Counseling Services - it is a non - profit and a few different ones out there. They are awesome and very helpful
I have always upheld that if a person is broke their whole life it is because they are stupid. There are lots of financial advisors that will work for an affordable fee or gratis. You can get the same information for free from books and online. There is no market for low cost financial advisors because broke people can not handle money and never will
because they do not have any finances to be advised about
Its simple economics. Most financial advisors want to deal with as few clients as possible and still make significant money. Of course the amount the want to make depends on the individual, however I have found that most advisors once they are established will start to cull their client list and keep only the clients that give them the least amount of "pain" and have significant investment portfolios. Its all about making the most money with the least amount of effort. There are advisors that are just getting into the business that would likely accept your business. Of course if you continue to be a small investor you may face being dropped at some point in the future. A great book for you to read is " The Naked Investor" by John Lawrence Reynolds which is carried by most bookstores. It gives the reader an inside look at the business of financial advisors
I am not an expert, but my guess is that there are 2 factors. The first is the fact that companies would probably not make as good a profit on those who can not afford to pay big bucks. The second factor is just that those with smaller incomes have less to manage. A millionaire with various types of investments and multiple streams of income is going to need financial advisors to sort it all out. But someone living paycheck to paycheck or with a few thousand saved in the bank would not need that level of financial management
no profit
Most money managers and banks are greedy. If there's nothing in it for themselves = not interested!
Because the government regulates the industry so much that no advisors can afford to deal with clients that do not bring in big payments. Every new regulation is costly, and many of the costs are related to the number of clients we bring in. Today, I can no longer afford to take on clients below a certain size, simply because of government red tape. I have tried hard to keep a certain amount of time available for small clients, but it's becoming more and more costly to do so, and makes it harder for me to stay in business
there are financial advisors out there that are volanteers to the cause of making money. Its at no cost to you. why do not you start a group on the internet for ppl with the same interests and maybe you can all work something out and make the money you want. unfortunatly, everybody in this world is there to make money even the financers, if you have a good head on your shoulders you can work it out on your own, the world is your oyster and you can do anything you set your mind too. mostly everything needs a little layout for you too start making money, you can not start a business without a little capital. good luck
Because financial advisors make very small percentage on your investment, therefore they can not survive on small investment accounts. Your best bet is to read some books on no - load mutual funds and diversify your investment over different types of mutual funds. Stay on course regardless what the market does - up or down, invest the same amount every month over a long period of time. Rebalance your portfolio from time to time

Tags: recomendations, paying, thousand, experience, affordable

Follow this dicussion..

Related Images:

Knowledge Base

What I multi family home investing?

are you ready to be landlord? will you take that responsiblity yourself or discount a unit to have someone do it for you. do you want the tenants to cover the entire mortgage payment? more? will you take the time to rehab a unit if needed? are your tenants going (investment firm)

Does anyone know anything about Venoco, Inc. NYSE - VQ. I was advised to purchase this stock

use sidebar menu to find key statistics, income, balances, cash flow, etc. my investment advise: do not take investment advice without doing your own research. here is a web site that will give you all of the latest financial information:. finance. yahoo.com / q / pr?s=vq. use sidebar menu to (home calculator)

Can investment clubs groups purchase real estate or stocks mutual funds?

i am at starting an investment group i finding groups focus on stocks mutual funds, i am interested in real estate also. is it legal investment clubs groups to purchase real estate? also, type of paperwork be filed to operate an en y looking at llc framework, is a comprehensive (investment firm)

Related Images:

Knowledge Base: Investment Companies

What are some really good investment companies?

i have fidelity for my retirement and my husband has principal funds for his because that's who our employers go through. we want to open another investment account to save money for a down payment for a house hopefully faster than the low rated savings and cd accounts would get (investment companies)

Do financial advisors always need to see a pay stub?

does a financial advisor need to see how much your salary is in order to take you in as a client? i do not want my future fa to know how much i make for various reasons. what type of advice do you expect to receive if you refuse to (investment companies)

What are some great names for a stock investment company?

i am trying to open up a corporation where people can buy stocks from all around the world. it will be the first stock company of it's kind. but i can not find a good name for it. what are some great names for a stock investment company? my second (investment firm)

What is a good investment firm to start an IRA with?

i want to start an ira this year but im unsure what investment firm to go with. i have used fidelity in the past but had to remove the money. any suggestions?. uming that mutual funds are your investment of choice, vanguard and t. rowe price are excellent. if you (stock investment)

Any Tips on negotiating with a Portfolio Manager for hiring his services for investment in stocks?

how are the services of kotak ? anyother reliable agency?. try meeting few stock brokers and collect lots of information. tabulate it and you will know exactly what you are looking for. one basic information should be "floor" or "stop loss". simply put how much money you are prepared to (investment firm)

Related Images:

Knowledge Base: Financial Advisors

Financial advisors? ?

i have a question. i am into some pretty deep debt. i was wondering if anyone knew how a financial advisor or financial planner works. how would i pay them? i am needing their help to help me pay off debt so how do i possibly afford to pay them?. (financial advisors)

How do financial advisors charge worth it?

i believe we will go up a tax bracket soon - are expecting as well - need to do some financial planning - wondering if advisors are worth it? any opnions appreciated!. financial advisors are usually insurance salespeople. no they are not worth it. i work for a private financial (financial advisors)

Why no financial advisors people smaller incomes?

there is a large market out there and no one seems to want to tap it. yes, it woud take a while to build but there are a lot of people, like me, who need help managing their finances - including credit issues, budgeting and retirement / investments - but (financial advisors)

Any financial advisors on to be hired?

need a certified financial advisor who can help me allocate my ets. all of the consulting will be done through email. better do some kinda background check on them. or find someone well known - that is recommended by other people. i am not certified and having a cfa do (financial advisors)

Are Financial Advisors worth the money?

are financial advisors worth the $ i would pay them? i need some advice for financial planning but not sure what to do about an advisor? am i better off on my own?. if you have any shred of self control you are better off on your own. they are (financial advisors)