Access Wealth Senior Advisor Howard Milove, CPA/PFS, was recently featured in NJMoneyHelp, discussing an important question many investors face:
Should you hire a financial planner to handle your investments?
In the article, Howard explains two common ways financial planners are compensated: hourly planning fees and assets under management (AUM) fees. He outlines how each structure works and discusses potential conflicts of interest that investors should understand before choosing an advisor.
Howard notes that hourly planners are often viewed as having fewer conflicts because they are paid directly for their time, whereas AUM-based advisors may face situations in which recommendations could affect the assets they manage. At the same time, he emphasizes that the potential for conflict does not necessarily mean the advice is improper. Reputable financial planners, like those at Access Wealth, have a fiduciary responsibility to always prioritize their clients’ interests. Still, investors should understand how their advisor is compensated and how that may influence recommendations.
Read the full article on NJMoneyHelp to learn more about the considerations involved when selecting a financial planner: Should I Hire a Financial Planner to Handle My Investments?
If you’re evaluating whether professional financial guidance makes sense for your situation, feel free to contact Howard to discuss your questions and financial goals.
Are you interviewing financial advisors? Download this free checklist that you can use to help you hire the right financial planner.
