What does a financial advisor actually do?
A financial advisor acts as a guide to help navigate clients through the financial challenges of life:
- Listen to clients to learn about their unique financial situation
- Help define financial goals for the near-and long-term
- Set priorities for working toward those goals
- Identify investments and the best ways to achieve financial goals
- Advise and counsel clients through life events to help them stay on track
What specific types of financial areas does an advisor handle?
Advisors help clients develop a plan to spend, save and invest wisely while working toward future goals:
- Buying a house and remodeling
- Creating a cushion for financial emergencies
- Taking care of a growing family
- Funding a college education
- Saving for retirement
- Living out retirement plans and dreams
- Estate planning
What kinds of financial “tools” and strategies does an advisor use?
Advisors help clients employ a number of strategies and financial products to make their money work harder while working within a comfortable level of risk tolerance.
- Money Market Accounts
- 529 College Plans
- 401(k)s, 403(b)s
- Market Investments: Stocks, Bonds, Mutual Funds, Real Estate, Commodities
Can my advisor buy and sell stocks and bonds?
- Clients can set up a brokerage account through Lesko to buy and sell stocks and bonds.
- Securities are offered through Lesko Securities, Inc., a registered broker/dealer and member of FINRA (www.finra.org, brokercheck.finra.org) and SIPC.
- There are numerous other financial investment options available through Lesko
Why should someone work with a financial advisor instead of handling their finances themselves?
There are a number of reasons. A good advisor:
- Is educated about the complex financial world
- Has experience and expertise honed through years of working through all kinds of financial situations
- Will take time to work through minute details
- Is backed up by a team well-versed in various areas of financial knowledge
- Can coordinate all areas of a client’s financial life to help save time and effort
How does a financial advisor charge for services?
There are three ways financial advisors get paid:
- Commission-Based – client pays an upfront commission and a percentage of the investment
- Fee-Based – client pays a percentage on assets the firm is investing
- Fee-Only – usually a per-hour fee, similar to lawyers and accountants
Lesko offers all three options and allows our clients to choose what works best for them.
How do I know my financial advisor can be trusted?
A good financial advisor helps clients choose the right investments for their particular situation and won’t try to sell them what they don’t need. They aim for:
- Diversification and a well-balanced mix
- The long-term view–not quick returns
- Making the most of the current economic climate
- Risk tolerance
Isn’t financial planning just for the very wealthy?
The financial world is becoming more complex every day and it helps to have a guide to navigate today’s challenges at every level of investment
- Lesko Financial Services has a policy of turning no client away, no matter how small
- Many of the large financial conglomerates have minimums clients must invest
- Larger financial companies use outsourced call centers for moderate and small investors
How should I choose an advisor?
Find an advisor you’re comfortable with, one who is interested in your goals and will put your best interests before making money. Look for:
- Experience backed by a team with a solid reputation
- Professionalism and courtesy
- Full disclosure on methods of payment
- An honest explanation on how they will invest your money and make money from those investments
- Choose an advisor you will look forward to seeing