Investing with Sam Hubbard

Investing with Awareness

 

1. When choosing a financial advisor, work with someone who takes your best interests to heart.

Knowing the difference between a fiduciary and non-fiduciary can be an important factor in managing your finances. Fiduciaries – like registered investment advisors – are obligated by law to act in your best interest. Large wirehouses are non-fiduciaries, meaning they are held to a lower standard and can recommend investments that may result in higher fees, even if similar investments with lower fees are available.

 

2. Keep in mind that not all financial advice is created equal.

Financial professionals like CPAs, insurance representatives and financial advisors can sometimes overlap in the services they provide. To help ensure you receive the best guidance, work with each professional in their given area of expertise.

 

3. Understand all fees, all the time.

Many investors are aware only of the fee their financial advisor may charge for their services. But there are likely additional, obscure fees clients may not know about that can impact the long-term performance of your portfolio.

To read more about investing with Sam Hubbard, subscribe now or pick up the August/September Issue of South magazine.