from Dr. Greg Valentine, Director
Center for Economic Education at USI
A service for players of the Stock Market Game
Finding an Investment
Professional
Published by the Evansville Courier Company
Tuesday, December 8, 1998
Expert advice can make investing easier and more profitable. Find an investment advisor who will take the time to understand your financial goals. Figure out what you want your investments to accomplish, and narrow down those objectives to definable short-, mid-, or long-term goals.
When you interview a potential advisor, ask how the investments the advisor recommends will help achieve your financial goals. Make sure you understand the answers. The better you grasp the strategy, the better you will feel about following the advice you receive.
Judge the qualifications of a financial advisor just as you would any professional. Here are some keys to consider:
Experience. The less experience you have, the more experience you want in an advisor. Also, check out educational background.
Reputation. Referrals from people you trust are most helpful. Ask for names of an advisor from your friends.
Expertise. Financial advisors differ in services they provide. Some have expertise in specific investment strategies while others provide broader-based services. Find an advisor who specializes in the area(s) you are interested in.
Compatibility. A face-to-face meeting will tell you a lot about a financial advisor's skills. Ask many questions and expect clear and concise answers.
Although many people prefer to work with a single financial advisor, working with two can give you access to greater expertise. Ultimately, you are the one who must make the decision--it's your investment.
The above article was taken from the Evansville Courier Company. Watch each week for more background information about the stock market.