However, their compensation structure is such that they are bound by the contracts of the companies where they work. An advisor is any person or company involved in advising or investing capital for investors. Check out their certifications as well, and be sure you understand, agree with, and can afford their fee structure. Also, investigate their regulatory history with your state regulatory agency, FINRA’s BrokerCheck, and the SEC’s Investment Advisor Public Disclosure database. The average base salary of a financial advisor, according to Indeed.

  • With SmartVestor, you’ll have the peace of mind knowing you’re working with someone who really does have your best interest at heart.
  • Fees start as low as 0.25% of your balance, and many services have no or low account minimums, so you can start investing with a small amount of money.
  • This means if things go wrong with your financial choice, you may not be able to complain to the Financial Ombudsman Service or Financial Services Compensation Scheme.
  • As a global financial services firm, Morgan Stanley is committed to technological innovation.

Once they are hired, personal financial advisors often enter an on-the-job training period. During this time, new advisors work under the supervision of senior advisors and learn how to perform their duties, including building a client network and developing investment portfolios. Financial advisors execute trades in the market on behalf of their clients and construct personalized financial plans based on their client’s financial goals.

Estate Planning

Grant says it sounds like your adviser may have put your assets into some form of an annuity. “Whether it’s an insurance policy or not, it’s important to review, monitor and potentially make changes to the investments as your life and needs change,” Grant says. Advisory services are only offered to clients or prospective clients where Ritholtz Wealth Management and its representatives are properly licensed or exempt from licensure. No advice may be rendered by Ritholtz Wealth Management unless a client service agreement is in place. We’ll also gather information when you connect your outside accounts. Then, we’ll help you set financial goals and set you up with investment portfolios for each goal.