Why Should I Hire An Investment Adviser Representative?

The investment industry, full of its own jargon and complexities, can be incredibly intimidating. Even if you’re comfortable with investing, it’s not always clear when an outside perspective might help. When it comes to selecting an adviser or working with an existing one, here are some questions worth considering.

What is an Investment Adviser Representative?

An adviser usually works for a company like Weber Global that provides advice on investments or insurance products, according to the Financial Industry Regulatory Association (FINRA), the largest independent regulator for all securities firms doing business in the U.S.

Working with an independent investment adviser is often more expensive than doing it yourself, but you might consider hiring someone from Weber Global if:

  • You don’t feel confident making investment decisions by yourself.
  • Your goals and risk tolerance can’t be met using automated services or a few hours of work per year.
  • You do not have the time or inclination to put together your portfolio of investments based on personal goals and risk appetite.

On the other side, some people just prefer having an expert on their side helping them navigate financial matters. If that’s you, hiring a fee-only investment adviser could make sense as long as you can afford it.

And Why Would I want to Hire an Investment Adviser?

Investment advisers provide guidance on market trends and help set investment goals while providing ongoing monitoring to ensure that your investments are keeping up with these goals. They might also offer advice on tax planning, insurance planning, and retirement planning, among other things.

Independent investment advisers must adhere to the fiduciary standard, which means they put their clients’ interests first.

If you hire somebody who works under this standard rather than an adviser who is only required to meet the suitability standard (basically the “let’s not get sued” standard), you can rest assured knowing someone is looking out for your best interest when it comes to investing your hard-earned money.

Of course, make sure you check in with a fee-only investment adviser during times of market upheaval.

The Bottom Line

It all comes down to trust, honesty, and how much work you are willing to do on your own or with the help of a financial planner. Extensive research is essential if you’re hiring someone. Trust your instincts.

If it doesn’t feel right or you don’t think the person understands what’s going on with you, then look for another option. If all else fails, remember that there are many ways to get sound advice without actually hiring anyone.