FAQ – Miscellaneous

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Is it possible to personally meet with someone who can help me invest my money?

Working with a financial advisor can be a good option for anyone without the time or expertise to manage their own investments. There are many different types of financial advisors, and it’s important to find one that’s right for you. Examining your goals is a good place to start. It will help you find an advisor with a compatible outlook and philosophy.

Be aware that some advisors may be looking out more for their own financial interests than yours. Some agents or advisors may receive a significant financial reward for recommending a particular investment. For example, some agents, brokers or advisors may work for a particular 403(b) vendor and represent only their employer's or insurance company's products.

Financial advisors can be paid in a variety of ways. They may be paid a percentage of the value of the assets they manage for you; an hourly fee; a fixed fee; a commission on the securities they sell; or a combination of these methods. Ask the advisor whether he or she is acting in a fiduciary capacity and to disclose in writing all forms of compensation he or she will earn, including bonuses, commissions, etc. Also find out what the advisor’s credentials are and why he or she recommends a particular product.

Fee-based advisors can recommend products from many different vendors and may therefore be better able to suggest products that are suited to your needs.

Selecting a 403(b)/457 Advisor & Understanding Plan Fees, a booklet from CTAinvest.org, offers a wealth of information about finding an advisor and includes a list of questions to ask when selecting one. Be sure to take it with you when you interview advisor candidates. You may also want to read Choosing a Financial Advisor.

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