Just about anyone can hang out a shingle that declares them a financial adviser. There are a myriad of financial consultants that are eager and willing to invest your hard-earned money, but you should never choose financial advise causally. Shop around, ask friends and family, and do your homework. You need to know what conflicts of interest a financial specialist might have. Find out how they are compensated and who they work for. It’s a good idea to check to see if any disciplinary action has been taken against a potential planner. When choosing a financial consultant the old adage still holds true: if it sounds too good to be true, it probably is.
Today’s guest is Robert Weagley, Associate Professor Personal Financial Planning and Chair of the Personal Financial Planning department for the University of Missouri.
Visit the MU Personal Financial Planning site for more information.