BUSINESS MATTERS
Need Help to Ease
your Financial Stress?
4 Qualities of An Excellent Financial Advisor
Article by Kathryn Dattomo
"Everyone is feeling the impacts of inflation, from the price of groceries to the fluctuations in their retirement accounts, and it's clear that more Americans are looking for the assistance and guidance that comes from a Fee-Only financial planner," says Kathryn Dattomo, CEO of the National Association of Personal Financial Advisors (NAPFA). Finding the right financial advisor that can educate and guide clients can be challenging. When searching for a financial advisor, look for the following four qualities.
1. Fee-Only compensation
How a financial advisor is compensated can affect the advice you receive. Financial advisors are compensated through three ways:
* Commission-based model
* Commission and fee model
* Fee-Only model
Advisors that work in commissioned and commission fees and models are
(BPT) - As inflation continues to rise, Americans are feeling the financial pressure and weighing their present needs against their future financial health. According to The National Association of Personal Financial Advisors (NAPFA) Fall 2022 Consumer Survey, 87% of working Americans feel stressed about their finances, and nearly half are unsure of how much money they need to retire comfortably.
The survey also found that financial stress is spilling over into the workplace. About 63% of working Americans reported that financial stress makes them less productive at work, with a quarter saying they spend a half-hour or more thinking about their finances. Whether you're an employer looking to ease your employee's financial stress and improve their performance or an individual seeking to plan and improve your financial outlook, an experienced financial advisor can make a world of difference.