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Ugig investment advisor

Investment advisors work as professionals within the financial industry by providing guidance to clients in exchange for specific fees. Investment advisors must also be careful to avoid any real or perceived conflicts of interest. One way in which investment advisors seek to minimize real or perceived conflicts of interest is through their compensation structure.

Investment advisors are paid through fees which cause their own success to be linked to that of the client. Investment advisors often have a level of discretionary authority which allows them to act on behalf of their clients without having to obtain formal permission prior to executing a transaction.

However, this authority must be formally provided by the client, generally as part of the client onboarding process. As of , investment advisors operating within the U. Investment advisors with lesser amounts of assets are still eligible to register, but they are only required to register at the state level. Additionally, records regarding investment advisors and their associated firms must also be kept, to enable oversight of the industry.

Suppose you are a 65 year-old retiree that has just hired an investment advisor to manage your retirement funds. The advisor you chose was recommended for her close adherence to the best practices of the investment management industry. You have some experience investing and are comfortable buying blue-chip stocks. However, given your age and risk tolerance you are mostly interested in preserving your principal and ensuring you have adequate money to fund your lifestyle for the next 20 or more years.

At your first meeting, your investment advisor began by asking you a series of questions designed to thoroughly understand your retirement plans, financial circumstances, risk tolerance, investment objectives, and other factors relevant for assessing your needs. She carefully explained her compensation structure a mixture of flat fees and performance fees and addressed the measures she takes to minimize real or perceived conflicts of interest.

She explained that as part of the onboarding process she would obtain discretionary authority over your investment accounts and that she would have a fiduciary responsibility toward you as her client. Lastly, she directed you toward resources where you can verify and monitor her registration status. After thoroughly answering your questions, your adviser suggested various potential investment strategies designed to best meet your needs given your budget and preferences.

After careful discussion, you agreed on a course of action and completed the ongoing process. In the months and years ahead, you would continue to have scheduled communication with your adviser where she would update you on the status of your investments and address your concerns. For related reading, see " Investment Adviser vs. Broker: What's the Difference? Wealth Management.

Financial Advisor. What is the relationship between the estimated value on the pricing date and the secondary market price of the securities? We expect that those higher values will also be reflected in your brokerage account statements. Page 4. Key Investment Rationale. The securities do not provide for the regular payment of interest. Instead, the securities will pay a contingent quarterly coupon but only if the index closing value of each underlying index is at or above its respective coupon barrier level on the related observation date.

The securities have been designed for investors who are willing to forgo market floating interest rates and accept the risk of receiving no coupon payments for the entire 3-year term of the securities in exchange for an opportunity to earn interest at a potentially above-market rate if each underlying index closes at or above its respective coupon barrier level on each quarterly observation date until the securities are redeemed early or reach maturity. The following scenarios are for illustrative purposes only to demonstrate how the coupon and the payment at maturity if the securities have not previously been redeemed are calculated, and do not attempt to demonstrate every situation that may occur.

Accordingly, the securities may or may not be redeemed, the contingent coupon may be payable in none of, or some but not all of, the quarterly periods during the 3-year term of the securities and the payment at maturity may be less than the stated principal amount of the securities and could be zero.

Scenario 1: The securities are redeemed prior to maturity. This scenario assumes that, prior to early redemption, each underlying index closes at or above its coupon barrier level on some quarterly observation dates , but one or both underlying indices close below the respective coupon barrier level s on the others. Investors receive the contingent quarterly coupon for the quarterly periods for which each index closing value is at or above the coupon respective barrier level on the related observation date, but not for the quarterly periods for which either index closing value is below the respective coupon barrier level on the related observation date.

Starting on February 23, , when each underlying index closes at or above its initial index value on a quarterly redemption determination date, the securities will be automatically redeemed for the stated principal amount plus the contingent quarterly coupon with respect to the related observation date.

Scenario 2: The securities are not redeemed prior to maturity, and investors receive principal back at maturity. This scenario assumes that each underlying index closes at or above the respective coupon barrier level on some quarterly observation dates , but one or both underlying indices close below the respective coupon barrier level s on the others, and each underlying index closes below the respective initial index value on every quarterly redemption determination date.

Consequently, the securities are not automatically redeemed, and investors receive the contingent quarterly coupon for the quarterly periods for which each index closing value is at or above the respective coupon barrier level on the related observation date, but not for the quarterly periods for which either index closing value is below the respective coupon barrier level on the related observation date.

At maturity, investors will receive the stated principal amount of the securities and the contingent quarterly coupon with respect to the final observation date. Page 5. This scenario assumes that each underlying index closes at or above its respective coupon barrier level on some quarterly observation dates , but one or both underlying indices close below the respective coupon barrier level s on the others, and each underlying index closes below the respective initial index value on every quarterly redemption determination date.

Therefore, investors do not receive the contingent quarterly coupon for the last quarterly period and lose 1. The payment at maturity is less than the stated principal amount of the securities and could be zero. Page 6. How the Securities Work. The following diagrams illustrate the potential outcomes for the securities depending on 1 the index closing values on each quarterly observation date, 2 the index closing values on each quarterly redemption determination date starting in February and 3 the final index values.

Page 7. Page 8. Hypothetical Examples. The following hypothetical examples illustrate how to determine whether a contingent quarterly coupon is paid with respect to an observation date and how to calculate the payment at maturity if the securities have not been automatically redeemed early.

The following examples are for illustrative purposes only. Whether you receive a contingent quarterly coupon will be determined by reference to the index closing value of each underlying index on each quarterly observation date, and the amount you will receive at maturity, if any, will be determined by reference to the final index value of each underlying index on the final observation date.

The actual initial index value and coupon barrier level for each underlying index will be determined on the pricing date. All payments on the securities, if any, are subject to the credit risk of Morgan Stanley. The numbers in the hypothetical examples below may have been rounded for the ease of analysis. The below examples are based on the following terms:. Contingent Quarterly Coupon:. With respect to each coupon payment date, a contingent quarterly coupon is paid but only if the final index value of each underlying is at or above its respective coupon barrier level on the related observation date.

Automatic Early Redemption on or after February 23, Starting on February 23, , if the index closing value of each underlying index is greater than or equal to its initial index value on any quarterly redemption determination date, the securities will be automatically redeemed for an early redemption payment equal to the stated principal amount plus the contingent quarterly coupon with respect to the related observation date.

Payment at Maturity if the securities have not been automatically redeemed early :. Stated Principal Amount:. Hypothetical Initial Index Value:. With respect to the RTY Index: 1, With respect to the SPX Index: 2, Hypothetical Coupon Barrier Level:. Buffer Amount:.

Downside Factor:. Page 9. How to determine whether a contingent quarterly coupon is payable with respect to an observation date:. Index Closing Value. Contingent Quarterly Coupon. RTY Index. SPX Index. Hypothetical Observation Date 1. Hypothetical Observation Date 2. Hypothetical Observation Date 3.

Hypothetical Observation Date 4. On each of the hypothetical observation dates 2 and 3, one underlying index closes at or above its coupon barrier level, but the other underlying index closes below its coupon barrier level. Therefore, no contingent quarterly coupon is paid on the relevant coupon payment date. On hypothetical observation date 4, each underlying index closes below its respective coupon barrier level, and accordingly no contingent quarterly coupon is paid on the relevant coupon payment date.

You will not receive a contingent quarterly coupon on any coupon payment date if the closing level of either underlying index is below its respective coupon barrier level on the related observation date. How to calculate the payment at maturity if the securities have not been automatically redeemed early :.

Final Index Value. Index Percent Change. Payment at Maturity. Example Page Index has decreased by an amount greater than the buffer amount. Therefore, investors receive at maturity the stated principal amount of the securities and the contingent quarterly coupon with respect to the final observation date.

Therefore, investors are exposed to the downside performance of the worst performing underlying index at maturity, and investors lose 1. Risk Factors. The following is a list of certain key risk factors for investors in the securities.

We also urge you to consult with your investment, legal, tax, accounting and other advisers in connection with your investment in the securities. The securities do not guarantee the return of any principal. The terms of the securities differ from those of ordinary debt securities in that they do not guarantee the return of any of the principal amount at maturity.

Under this scenario, the value of the payment at maturity will be less than the stated principal amount and could be zero. The terms of the securities differ from those of ordinary debt securities in that they do not provide for the regular payment of interest. If, on the other hand, either underlying index closes below its respective coupon barrier level on the relevant observation date for any interest period, we will pay no coupon on the applicable coupon payment date.

It is possible that the index closing value s of one or both underlying indices could remain below the respective coupon barrier level s for extended periods of time or even throughout the entire 3-year term of the securities so that you will receive few or no contingent quarterly coupons. If you do not earn sufficient contingent coupons over the term of the securities, the overall return on the securities may be less than the amount that would be paid on a conventional debt security of the issuer of comparable maturity.

You are exposed to the price risk of both underlying indices, with respect to both the contingent quarterly coupons, if any, and the payment at maturity, if any. Your return on the securities it not linked to a basket consisting of both underlying indices. Rather, it will be contingent upon the independent performance of each underlying index. Unlike an instrument with a return linked to a basket of underlying assets in which risk is mitigated and diversified among all the components of the basket, you will be exposed to the risks related to both underlying indices.

Poor performance by either underlying index over the term of the securities may negatively affect your return and will not be offset or mitigated by any positive performance by the other underlying index. To receive any contingent quarterly coupons, each underlying index must close at or above its respective coupon barrier level on the applicable observation date. Under this scenario, the value of any such payment at maturity will be less than the stated principal amount of the securities and could be zero.

Accordingly, your investment is subject to the price risk of both underlying indices. Because the securities are linked to the performance of the worst performing underlying index, you are exposed to greater risks of no contingent quarterly coupons and sustaining a loss on your investment than if the securities were linked to just one index.

The risk that you will not receive any contingent quarterly coupons, or that you will suffer a loss on your investment, is greater if you invest in the securities as opposed to substantially similar securities that are linked to the performance of just one underlying index. With two underlying indices, it is more likely that either underlying index will close below its coupon barrier level on any observation date or decline by more than the buffer amount at maturity than if the securities were linked to only one underlying index, and therefore it is more likely that you will not receive any contingent quarterly coupons and that you will suffer a loss on your investment.

In addition, because each underlying index must close above its initial index value on a quarterly determination date beginning after one year in order for the securities to be called prior to maturity, the securities are less likely to be called on any redemption determination date than if the securities were linked to just one underlying index. The contingent coupon, if any, is based only on the value of the underlying indices on the related quarterly observation date at the end of the related interest period.

Whether the contingent coupon will be paid on any coupon payment date will be determined at the end of the relevant interest period based on the closing value of each underlying index on the relevant quarterly observation date. As a result, you will not know whether you will receive the contingent coupon on any coupon payment date until near the end of the relevant interest period.

Moreover, because the contingent coupon is based solely on the value of each underlying index on quarterly observation dates, if the closing value of either underlying index on any observation date is below the respective coupon barrier level, you will receive no coupon for the related interest period , even if the level s of one or both underlying indices were higher on other days during that interest period.

Investors will not participate in any appreciation in either underlying index. Investors will not participate in any appreciation in either underlying index from its initial index value, and the return on the securities will be limited to the contingent quarterly coupon that is paid with respect to each observation date on which each index closing value is greater than or equal to its respective coupon barrier level, if any. The market price will be influenced by many unpredictable factors.

We expect that generally the level of interest rates available in the market and the values of the underlying indices on any day, including in relation to the respective coupon barrier levels, will affect the value of the securities more than any other factors. Other factors that may influence the value of the securities include:. Some or all of these factors will influence the price that you will receive if you sell your securities prior to maturity.

You cannot predict the future performance of the underlying indices based on their historical performance. The securities are subject to the credit risk of Morgan Stanley, and any actual or anticipated changes to its credit ratings or credit spreads may adversely affect the market value of the securities. The securities are not guaranteed by any other entity. If Morgan Stanley defaults on its obligations under the securities, your investment would be at risk and you could lose some or all of your investment.

These companies often have greater stock price volatility, lower trading volume and less liquidity than large-capitalization companies , and , therefore , the RTY Index may be more volatile than indices that consist of stocks issued by large-capitalization companies.

Stock prices of small-capitalization companies are also more vulnerable than those of large-capitalization companies to adverse business and economic developments, and the stocks of small-capitalization companies may be thinly traded.

In addition, small capitalization companies are typically less well-established and less stable financially than large-capitalization companies and may depend on a small number of key personnel, making them more vulnerable to loss of personnel. Such companies tend to have smaller revenues, less diverse product lines, smaller shares of their product or service markets, fewer financial resources and less competitive strengths than large-capitalization companies and are more susceptible to adverse developments related to their products.

Reinvestment risk. The term of your investment in the securities may be shortened due to the automatic early redemption feature of the securities. If the securities are redeemed prior to maturity, you will receive no more contingent quarterly coupons and may be forced to invest in a lower interest rate environment and may not be able to reinvest at comparable terms or returns.

However, under no circumstances will the securities be redeemed in the first year of the term of the securities. The securities will not be listed on any securities exchange and secondary trading may be limited. Therefore, there may be little or no secondary market for the securities.

Even if there is a secondary market, it may not provide enough liquidity to allow you to trade or sell the securities easily. Accordingly, you should be willing to hold your securities to maturity. The rate we are willing to pay for securities of this type, maturity and issuance size is likely to be lower than the rate implied by our secondary market credit spreads and advantageous to us.

Both the lower rate and the inclusion of costs associated with issuing, selling, structuring and hedging the securities in the original issue price reduce the economic terms of the securities, cause the estimated value of the securities to be less than the original issue price and will adversely affect secondary market prices. The inclusion of the costs of issuing, selling, structuring and hedging the securities in the original issue price and the lower rate we are willing to pay as issuer make the economic terms of the securities less favorable to you than they otherwise would be.

The estimated value of the securities is determined by reference to our pricing and valuation models, which may differ from those of other dealers and is not a maximum or minimum secondary market price. These pricing and valuation models are proprietary and rely in part on subjective views of certain market inputs and certain assumptions about future events, which may prove to be incorrect. As a result, because there is no market-standard way to value these types of securities, our models may yield a higher estimated value of the securities than those generated by others, including other dealers in the market, if they attempted to value the securities.

The value of your securities at any time after the date of this pricing supplement will vary based on many factors that cannot be predicted with accuracy, including our creditworthiness and changes in market conditions. Hedging and trading activity by our subsidiaries could potentially affect the value of the securities.

Some of our subsidiaries also trade the stocks that constitute the underlying indices and other financial instruments related to the underlying indices on a regular basis as part of their general broker-dealer and other businesses. Any of these hedging or trading activities on or prior to the pricing date could potentially increase the initial index value of an underlying index , and, therefore, could increase i the value at or above which such underlying index must close on the redemption determination dates so that the securities are redeemed prior to maturity for the early redemption payment depending also on the performance of the other underlying index , ii the coupon barrier level for such underlying index, which is the value at or above which the underlying index must close on the observation dates so that you receive a contingent quarterly coupon on the securities depending also on the performance of the other underlying index and iii the value at or above which such underlying index must close on the final observation date so that you are not exposed to the negative performance of the worst performing underlying index at maturity depending also on the performance of the other underlying index.

Additionally, such hedging or trading activities during the term of the securities could potentially affect the value of an underlying index on the redemption determination dates and the observation dates , and, accordingly, whether we redeem the securities prior to maturity, whether we pay a contingent quarterly coupon on the securities and the amount of cash you will receive at maturity, if any depending also on the performance of the other underlying index.

The calculation agent, which is a subsidiary of the issuer, will make determinations with respect to the securities. These potentially subjective determinations may adversely affect the payout to you at maturity, if any. Adjustments to the underlying indices could adversely affect the value of the securities. Any of these actions could adversely affect the value of the securities. The publishers of the underlying indices may also discontinue or suspend calculation or publication of the.

The U. There is no direct legal authority as to the proper treatment of the securities for U. We intend to treat a security for U. Under this treatment, the ordinary income treatment of the coupon payments, in conjunction with the capital loss treatment of any loss recognized upon the sale, exchange or settlement of the securities, could result in adverse tax consequences to holders of the securities because the deductibility of capital losses is subject to limitations.

If the IRS were successful in asserting an alternative treatment for the securities, the timing and character of income or loss on the securities might differ significantly from the tax treatment described herein. For example, under one possible treatment, the IRS could seek to recharacterize the securities as debt instruments.

In that event, U. The risk that financial instruments providing for buffers, triggers or similar downside protection features, such as the securities, would be recharacterized as debt is greater than the risk of recharacterization for comparable financial instruments that do not have such features.

Holders should note that we currently intend to withhold on any coupon paid to Non-U. In , the U. While it is not clear whether the securities would be viewed as similar to the prepaid forward contracts described in the notice, it is possible that any Treasury regulations or other guidance issued after consideration of these issues could materially and adversely affect the tax consequences of an investment in the securities, possibly with retroactive effect. The notice focuses on a number of issues, the most relevant of which for holders of the securities are the character and timing of income or loss and the degree, if any, to which income realized by non-U.

Both U. Holders as defined below should consult their tax advisers regarding the U. All 2, stocks are traded on a major U. Information as of market close on February 17, Bloomberg Ticker Symbol:. Current Index Value:.

The following graph sets forth the daily index closing values of the RTY Index for the period from January 1, through February 17, The related table sets forth the published high and low index closing values, as well as end-of-quarter index closing values, of the RTY Index for each quarter in the same period. We obtained the information in the table below from Bloomberg Financial Markets, without independent verification.

The RTY Index has experienced periods of high volatility, and you should not take the historical values of the RTY Index as an indication of its future performance. January 1, to February 17, Period End. First Quarter. Second Quarter. Third Quarter. Fourth Quarter. First Quarter through February 17, The following graph sets forth the daily index closing values of the SPX Index for the period from January 1, through February 17, The related table sets forth the published high and low index closing values, as well as end-of-quarter index closing values, of the SPX Index for each quarter for the period in the same period.

We obtained the information in the table and graph below from Bloomberg Financial Markets, without independent verification. The SPX Index has experienced periods of high volatility, and you should not take the historical values of the SPX Index as an indication of its future performance. Additional Information About the Securities. Please read this information in conjunction with the summary terms on the front cover of this document.

Additional Provisions:. Interest period:. Record date:. The record date for each coupon payment date shall be the date one business day prior to such scheduled coupon payment date; provided , however, that any coupon payable at maturity or upon early redemption shall be payable to the person to whom the payment at maturity or early redemption payment, as the case may be, shall be payable.

Day count convention:. Postponement of coupon payment dates including the maturity date and early redemption dates:. If any observation date or redemption determination date is postponed due to a non-index business day or certain market disruption events so that it falls less than two business days prior to the relevant scheduled coupon payment date including the maturity date or early redemption date, as applicable, the coupon payment date or the maturity date or the early redemption date will be postponed to the second business day following that observation date or redemption determination date as postponed, and no adjustment will be made to any coupon payment or early redemption payment made on that postponed date.

Minimum ticketing size:. Tax considerations:. The following is a general discussion of the material U. This discussion applies only to initial investors in the securities who:. Holders as defined below whose functional currency is not the U. As the law applicable to the U. Moreover, the effect of any applicable state, local or foreign tax laws is not.

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Commission-only advisors are not fiduciaries. They work as salespeople for investment and insurance brokerages, and are only held to suitability standards. Some financial products are predominantly sold under a commission model. Take life insurance: A fee-based planner who receives compensation for helping you purchase a life insurance policy may still have your best interests at heart when advising on other financial products.

Purchasing financial products via financial advisors that earn commissions may be a matter of convenience, especially if someone will receive a commission regardless of where you buy the product. And if you work with a fee-based financial advisor, understand when they are acting as a fiduciary, especially when they help you purchase financial products.

IARs may call themselves financial advisors, and may be fee-only or fee-based. Some may have additional credentials, including the certified financial planner CFP designation. A CFP designation indicates a financial advisor has passed rigorous industry exams covering real estate, investment, and insurance planning as well as has years of experience in their fields.

Because of their wide range of expertise, CFPs are well suited to help you plan out every aspect of your financial life. They may be particularly helpful for those with complex financial situations, including managing large outstanding debts and will, trust, and estate planning.

Most specialize in helping people invest for mid- and long-term goals, like retirement, through preconstructed diversified portfolios of exchange traded funds ETFs. People with complex financial needs should probably choose a conventional financial advisor, although many robo-advisors provide financial planning services a la carte or for higher net worth clients.

Services offered by financial advisors vary from advisor to advisor, but advisors may provide any of the following:. In addition to investment management and financial planning, financial advisors also offer emotional support and perspective during volatile economic times.

It used to be that financial advisors charged fees that were a percentage of the assets they managed for you. Today advisors offer a wide variety of fee structures, which helps make their services accessible to clients of all levels of financial means. Remember, these advisors may only be held to suitability standards, so they may end up costing what you would pay for a similar financial product suggested by a fiduciary financial advisor—or more.

Common average financial advisor fee rates are listed in the table below:. Assets under management AUM 1. Research Financial Advisors Because financial advisors come in many forms with many different specialties and offerings, you need to thoroughly research potential advisors. You want to make sure the person guiding your financial decisions is trustworthy and capable.

You can find good financial advisors a couple of ways. Ask friends, family and peers for recommendations. Alternatively, look for financial advisors online. Many professional financial planning associations provide free databases of financial advisors:. When evaluating advisors, be sure to consider their credentials as well as research their backgrounds and fee structures. Because of the ambiguity in the industry, you have to exercise caution to make sure you get the right financial advisor who meets your fiduciary and financial needs.

That said, when you find the right financial advisor for you, they can help you achieve your financial goals and financially protect your loved ones and their futures. Financial Advisor FAQs. Financial advisors are personal finance experts who provide financial advice or may even manage your money for you. A good financial advisor will evaluate your current financial situation and develop a comprehensive plan to guide you through your financial life.

In fact, financial advisors work with clients of all tax brackets and backgrounds. Financial advisors become most helpful when your financial life becomes complex. That might be when you get married, have children, get divorced, are managing many competing debts, come into an unexpected windfall, or are navigating end-of-life financial decisions. Financial companies and media frequently use the terms financial advisor and financial adviser interchangeably.

Practically speaking, though, both advisor and adviser are frequently used, regardless of fiduciary status. John Schmidt is the Assistant Assigning Editor for investing and retirement. Before joining Forbes Advisor, John was a senior writer at Acorns and editor at market research group Corporate Insight. Select Region. United States. United Kingdom. Updated: Aug 11, , pm. John Schmidt Editor. Editorial Note: Forbes may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations.

Financial Advisors Who Earn Commissions Some financial advisors make money by earning sales commissions from third parties. Choose Which Financial Advisor Services You Want Services offered by financial advisors vary from advisor to advisor, but advisors may provide any of the following: Investment advice. Financial advisors research different investment options and make sure your investment portfolio stays within your desired level of risk.

Debt management. If you have outstanding debts , like credit card debt, student loans, car loans, or mortgages, financial advisors will work with you to chart a plan for repayment. Budgeting help. Financial advisors are experts in analyzing where your money goes once it leaves your paycheck.

Insurance coverage. Financial advisors may examine your current policies to identify any gaps in coverage or recommend new types of policies , like disability insurance or long-term care coverage, depending on your financial situation. Our survey of brokers and robo-advisors includes the largest U. Factors we consider, depending on the category, include advisory fees, branch access, user-facing technology, customer service and mobile features. The stars represent ratings from poor one star to excellent five stars.

Ratings are rounded to the nearest half-star. A financial advisor helps people manage their investments, plan for retirement and save money for their financial goals. Financial advisors come in many varieties, from in-person advisors to online financial services and robo-advisors. They all serve the same purpose: to help you figure out what to do with your money.

If you find taking care of your finances and planning for the future to be overwhelming, a financial advisor can certainly help. If you feel confident investing your money, you may not need one. If you recently had a big life change you got married, had a child, lost a family member , it can be helpful to work with a financial advisor to help you understand your new financial landscape. Others charge around 0. Then, there are online planning services and traditional in-person financial advisors.

Online planning services typically charge a management fee that starts at around 0. We have a full overview of financial advisor fees here. Financial advisors are a larger category of individuals who help people manage their finances. It is important when you are looking for a financial advisor to thoroughly vet them , no matter what they call themselves.

What you look for in a financial advisor will have to do with your needs and priorities. Online advisors are for the most part less expensive, but some people prefer to meet with a local advisor; a face they can come to know and trust. It might also depend on what you want your advisor to do.

What sort of service you choose to take care of your money is a matter of your needs and comfort level. In-person advisors have the advantage of being able to develop a relationship with you over time. They might know more about your family, your job and your life in general — thus giving them better insight into your financial needs. Robo-advisors are a great choice if you only want investment management. If you need more comprehensive financial planning, many online planning services offer dedicated advisors who can give you customized help with a lower price tag than in-person advisors.

As your assets grow and become more complicated — maybe you own a house, have an investment portfolio and are trying to pay off debt — it can be worthwhile to seek help from either a traditional or online advisor. We recommend working with financial advisors who are fee-only fiduciaries. Fee-only advisors charge flat fees or a percentage of the assets they manage; they do not accept commissions for recommending specific investments. Note: This is not the same fee-based advisors, who may earn commissions on products they sell and charge clients a fee or percentage of assets.

A fiduciary is legally obligated to act in the client's best interest. Many financial advisors are also investment advisors , meaning they are registered with a regulating body such as their state or the SEC. The best financial advisor for you is the one that meets your needs, both in terms of services offered and the cost of advice. There are several different types of financial advisors too, so be sure to understand what their designations are and how they can best help you.

Is it important that you can speak with your advisor in person? If so, you may want to consider a local financial advisor who knows both your face and your community. Is cost the biggest driving factor? If you don't mind meeting with an advisor virtually — via phone or video conference — online financial advisors can save you money and provide the comprehensive financial planning and investment management you need.

While there are technically no requirements to call yourself a financial advisor, some relevant education will help you reach your goal. While not always required, many personal financial advisor job postings list it as a desired qualification. It helps to have a degree in finance, economics or another related topic. Gain experience. If possible, try to find an internship that will help you get some firsthand experience. Many advisory firms also offer on-the-job training for the first year a new advisor is working with them.

Having a certification pertinent to your field can help you grow your reputation, gain more clients and earn a higher salary. Summary of Best Financial Advisors of November Open Account. Vanguard Personal Advisor Services. Fees 0. Promotion None. View details. Pros Low management fee and lower account minimum for an online planning service.

Comprehensive management. Access to financial advisors. Solid investment selection. Cons No tax-loss harvesting. Must move outside assets over to Vanguard. Website less user-friendly than some competitors. Facet Wealth. The service is a considerable value, particularly for those with high portfolio balances and modest financial planning needs. Pros Free initial consultation. Comprehensive, full-service financial planning.

Meetings are held virtually, via phone or video call. No additional fee for investment management. Fee-only advice from a designated fiduciary CFP. No upfront setup fee. Cons Wide fee range makes it difficult for potential customers to estimate costs. No in-person meeting option. Harness Wealth. Why we like it Harness Wealth isn't itself a financial-advisory firm — the company serves to connect clients to carefully-vetted firms.

Pros Reduces uncertainty when selecting a financial advisor. Easy to get started. Advisors offer complimentary consultations. No fee for using Harness Wealth to find an advisor. Cons The firms Harness works with may have higher fees. Personal Capital. Why we like it Personal Capital is part robo-advisor, part human advisor: The hybrid service uses robo algorithms, but pairs investors with a dedicated financial advisor.