Finding the Best Financial Advice

It is difficult for many investors to find the best financial planning help in their area.  For instance, in an area like Philadelphia, there is the option between a Philadelphia certified financial planner, a New Jersey wealth management firm, an NJ financial planner, or simply a financial planning guide.  With all of these options everywhere in the United States, some type of ranking system is needed so that investors can see who the best advisors are.

“ To avoid a lot of the confusion, Jack Waymire, an individual with 28 years of experience in the financial services industry created the Paladin Registry (PaladinRegistry.com).

While the web site was initially created to provide a byproduct to the advice book Waymire wrote in 2003 (titled “Who’s Watching Your Money?”), Paladin has since expanded to become the number one source for financial advisors nationwide.

The Paladin Registry lists around 1,000 “5-star” financial advisors. According to Waymire, the registry has screened over 16,000 advisors, and selected only 1,000 from that list. Since only 7% of the financial advisors made the cut, Waymire suggests that the Paladin Registry is by far the most detailed, accurate, and informative financial advisor source on the web.

The registry was created to provide additional information to investors and an objective source for finding the appropriate financial advisor. The web site is strictly third party and entirely objective, because the site does not hold any licenses allowing them sell investments or insurance products.

Best of all, the registry is completely free of charge and offers completely objectionable decisions on what advisors will provide the individual with the best investment advice.

Waymire created the site to sway individual investors from making poor subjective decisions about their investor.

When searching for a competent financial advisor, most investors only ask for two things. First off, a financial advisor which sports strong credentials and secondly a financial advisor that is trustworthy.

The Paladin Registry’s goal is to break down and analyze those two sought after traits. Because the public does not have access to a lot of that information, the registry is exclusive and premium in the information offered.”

Utilizing this registry is in any investor’s best interests.  It is one of the best and most effective ways to find a financial advisor, and it certainly will pay dividends to any portfolio if used as opposed to just using the public view of a certain wealth management firm.

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Posted by Jay McGrath | Leave a comment

How to Invest as a Couple

One of the most important decisions that has to be made following marriage is how to invest the collective assets of the couple.  The decision has different solutions, usually pending the financial status of each spouse, and the stability of the relationship.  Before considering how to approach a collective investment, it is wise to seek the aid of a professional like a Certified Financial Planner in Philadelphia, a wealth management firm in New Jersey, or a financial advisor wherever you live.

It’s one of the most important questions a couple will face in their relationship but it so rarely gets asked until a relationship is well underway – should we pool or separate our money for investment?

The answer is as unique as the both of you. But there are some critical facts and some questions to consider as you develop a financial strategy for a lifetime.

Pooling can be a great idea after a marriage because the both of you are legally bound together, so why not bind your finances for potential maximum return? Many financial experts believe it’s a good idea for the simplest of reasons: The bigger the pile of money you two can gather, the greater the potential for financial gain with the right advice.

But there’s more to it than simply combining your assets. Pooling your investment dollars should produce not only shared decision-making, but shared awareness of everything going on with your finances for a lifetime. It’s the kind of cooperation that will not only benefit you all the years of your marriage, but also provide a surviving spouse the knowledge to function if the other dies suddenly or is incapacitated.

It’s a move that woman need to consider in particular – it’s to their advantage to maximize the total investment pie because chances are they will be the lower-earning spouse, as they may go years without income if they stay home to raise children. And if the marriage breaks up – as roughly 40 percent of them do these days – she’ll need extensive assets to prepare for a retirement that will be statistically longer than her husband’s.

But how about a couple that wants to plan separately? The first question is: Why? There may be compelling reasons – for instance, one spouse has assets he or she wishes to protect from another spouse engaged in a high-risk business proposition. Others may have significant inherited family assets that need to be protected for heirs from potential loss in a divorce. And of course, this is the least attractive reason, but it happens: One spouse doesn’t simply trust the other.

These questions and more are a good reason for a couple planning to marry to sit down with a trained financial expert like a Certified Financial Planner™ professional to go over their respective and combined goals for home ownership, retirement, kids’ college savings and various other lifestyle goals. A visit to tax and relevant legal professionals makes sense before the wedding as well.

Using this advice as well as trying to find a financial advisor will allow for the decision on how to collectively invest have a professional opinion.  By doing this, the decision will also be made easier and potentially permanently advised by a professional, making it beneficial for the couple in the long term.

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Posted by Jay McGrath | Leave a comment