There are lots of ways that a person can invest his or her own money. However, the services of a financial planner can help an investor to create a more profitable investment plan than the investor would likely do on his or her own. There are many ways that the financial advice of a financial advisor in Dallas can help a person to make better investing decisions.
Available Investments
Financial advisors spend their work week learning about investments, thinking about investments and talking about investments. With all this time spent on investing, advisors are familiar with a range of investment ideas and in what situation that they should be used. This vast amount of knowledge about investments is a good source for the investor who likely spends her work week doing something different than learning about investing.
Saving Money
Fee only financial advisors charge a flat fee for their services. This varies from other investment advisors who earn money through sales commissions. While a commission-based advisor may try to push a client into an investment that pays the advisor a high commission, a fee only planner only wants the client to succeed. An investor who is using a fee only planner can trust the planner to be giving sound advice.
Tax Implications
The true return of an investment isn’t just a measurement of the growth of the value of the investment, it must take into consideration the taxes on the investment growth. A financial advisor can help a person to pick the best investment vehicles for his or her personal financial situation. Taxes are an important consideration for not only investment growth and retirement income, it is also an important consideration in regards to estate planning. Tax issues alone are a good reason that an investor needs to use a financial advisor in Dallas. For more information visit Westwood Holdings Group, Inc today!
