At some point on your personal finance adventure as a pharmacist, you may need assistance.
A financial advisor can be a great asset to help guide you through the decision making process.
There are a few things to look for in a financial advisor:
- Fiduciary: meaning they’re legally obligated to act in the best of your interest
- Fee-only: Earning no commissions on products sold.
- Fee-based: Compensation is based on how much you’ve invested with them, commissions is earned through product sales, or hourly fees. In this case, hourly fees only advising may be beneficial when you’re only needed quick and succinct advise.
- Word of mouth referral
6 Questions to Ask before hiring an Advisor
- Who is actually managing my investments?
- What is your track record?
- What is your background?
- Who pays you?
- Can I pay you by the hour?
- Are you always legally bound to act in my best inererest?