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jon
jon, Financial Advisor
Category: Finance
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Experience:  willing to help
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help for the limited-income investor

Customer Question

Do investment advisers ever work with the "little" people that have $500 at a time to invest? How do they list themselves, if not as "investment advisers"? (I've only seen advertisements for the big money advisers, and would love to see counselors for the more common people!!!)
Can you help me locate these special people?!!! Thank you sincerely.
Submitted: 11 years ago.
Category: Finance
Expert:  R. Greg Paszkiewicz replied 11 years ago.
There are a number of types of people who I'm sure would be happy to help you. The problem is the financial advice sector tends to be a minefield of salesman types who are more interested in generating fees than wealth for their clients. I know a number of the discount brokerages have programs where they will match you up with an advisor but of course that is kind of potluck. You could search the internet for CFP's (Certified Financial Planners) in your area but I notice that most of these people I've seen plans from tend to be hooked up with certain funds or asset managers and recommend those investments even if they are high cost options or unsuitable for the clients. You might find an accountant who also does financial planning and investing like my old CPA boss did (and I do now) but these people tend not to advertise or solicit business the way the other investment advisers do. I'd suggest checking with friends or family members to see if they know anyone that they have worked with for a long period of time and they would recommend. Parting thought, if you hear the words annuities, loads, insurance, wrap, etc run like crazy.
Expert:  jon replied 11 years ago.

What is the purpose of the investment?


IE- Retirement, to beat the banks interest rate on your savings account, to get rich, etc


BTW- Greg gave an excellent answer to your questions!