Its a common misconception that you only need a financial
advisor if you have a lot of money to invest. Nothing could
be further from the truth. The fact is, novice investors and
those on a tight budget need more advice than anyone so they
dont end up spending a large portion of their discretionary
income on poorly performing investments.
Thats why everywhere you look, there are so-called experts
trying to convince you to invest in their product or service.
You see commercials on TV, receive brochures in the mail,
and even endure annoying telephone pitches.
The following primer is designed to help you understand the
role of different types of investment experts, what services
or products they provide, how they get paid, and the benefits
and disadvantages of using them.
This section provides an overview of the different types of
financial advisors and the titles they go by.
Discover what they offer and how they make money.
With over 13,000 funds available today, mutual fund companies
play a major role in the investment industry and have introduced
millions of Americans to the magic of compound interest.
Banks have fought hard to earn a piece of the pie within the
growing investment industry. Learn what your local branch
has to offer when it comes to investment services.
Theyve got lots of money and continue to introduce new
investment products that pervade the industry and control
the purse strings of American investors.
A rising tide, online investing runs the gamut from checking
account balances to launching day trading millionaires.