Do I need a financial professional?
Your financial goals are as unique as you are, and that’s where most financial professionals start. What are you saving and investing for, now and in the long run? A financial professional can help you to articulate these goals and then create a plan that defines your expectations, how you get there and where you may fall short.
Financial professionals are generally knowledgeable about different kinds of investments and the moves to make in your specific situation. Some will give you recommendations for investments to manage yourself, but many manage investments for clients on an ongoing basis, earning a percentage of the portfolio assets each year in return.
Communication and information
Hiring a financial professional doesn’t mean giving up control. Many meet with clients at least once a year to talk about results and what’s ahead. The more you know about your investments, the more confident you’ll be about making adjustments, handling market shifts and asking the right questions over time.
That doesn’t mean all financial professionals are alike. When selecting one to work with, consider the following tips:
Make sure you know how they are paid. It could be commission, hourly rate or an annual percentage of your assets (typically 1% or less). Don’t be afraid to ask for specifics until you’re comfortable with the process.
Tell them how you prefer to communicate and how often. It should be at least yearly to monitor annual performance, but you may want to meet more often depending on your needs or goals.
Check their credentials. Many professional designations require a financial professional to stay up on current strategies, rules and regulations. Additionally, FINRA’s BrokerCheck® is a good way to research professionals and their firms.
Be prepared to bring your most recent account statements (checking, savings, retirement, etc.), latest tax records, estate planning documents and information about all other assets, investments or income sources to your first meeting. But if your financial professional doesn’t start with your goals and what’s important to you, find one who does.
As one of the world's largest investment managers, we've helped investors succeed by remaining true to our values and approach. We believe in a distinctive way of managing money, an emphasis on research, a long-term view and the recognition of the power of relationships.
Capital Group offers a variety of investment options to help you pursue your objectives — including American Funds, one of the largest mutual fund families in the U.S.
Your financial professional can tell you more about American Funds. Or, you can purchase our mutual funds yourself through an online broker.
When looking for professional guidance, knowing what to ask can make all the difference. Put these four questions at the top of your list.
How can you help me reach my unique financial goals?
How are you paid for your services?
What are your professional credentials?
Can you provide names of other clients like me as references?
A financial professional can work with you to define your goals and create a plan to help make them a reality. From establishing a budget to selecting investments to riding out market shifts, they can help you make decisions based on your specific situation.
Our locator tool can help you find professionals in your area.
Check the background of these investment professionals on FINRA’s BrokerCheck.