Asked on 02 Jun 2020
I recently came across two independent financial investors online who provided services such as (1) investment planning, (2) oversee portfolio, and (3) rebalance portfolio along the way. They charge an onboarding fee of up to $1,000; and an annual rate of 1.5%.
I would like to hear from the community if anyone has worked with one, and how the experience has helped you? And is it worth the sunk cost in the long run.
You can approach FREE Independent Financial Advisors. They will be able to give you advices and recommendations. Even though they do not manage your portfolios.
There are many great IFAs on this platform. They provide great advices.
I would say its not worth for a paid FA if your net worth is low. You can easily manage your funds yourself and put into roboadvisors or ETFs for lower charges.
1.5% charge, they better gtee you 15% annualized return then!
I think having a financial advisor is a great way to kick start your investment journey. They provide holistic financial planning and offer insights which you might have overlook. Personally, I do not engage a financial advisor to do my investment because I prefer to manage those money myself. With that being said, my financial advisor does offer me insights on insurance planning even though I already knew what I wanted to buy. She is there to provide me with an alternative view of the way I manage my portfolio. Overall, I had a great experience with her and the financial advisory is complimentary. She earns money/commission when I purchase financial products from her. Hope that helps!
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