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Introduction
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Eyre
Choosing
a Financial Advisor
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At
Fidelity, we believe that you need to do your homework before
investing in mutual funds. That may include reading financial
publications, researching online, and discussing options with your
friends and family. Many people, however, find the task of
selecting mutual funds too daunting to undertake on their own. To
invest responsibly, they do their homework, and they seek the
professional guidance and advice of a financial advisor.
To learn more about the benefits of using a financial advisor,
visit these sections:
Benefit from the Experience of a Financial Advisor
Fidelity encourages investors to take a long-term view when they
invest with us. By looking down the road, many people realize that
they don't have the experience, time, training or patience to make
informed investment decisions alone. That's where the value of an
investment professional really makes a difference. A qualified
financial advisor:
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takes
the time to understand your goals and investment needs |
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has
the experience to help you develop a financial plan designed
for your specific situation |
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can
help you determine the best way to allocate your assets |
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can
offer guidance during volatile market periods |
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will
recommend specific investments or investment strategies to
meet your goals |
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has
experience in financial services, securities licenses and
specialized training |
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has
access to specialized research on various types of
securities |
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spends
time tracking potential investments that may fit in your
financial plan |
Determine Your Need for Professional Investment Advice
How do you know if you need professional investment advice? It
depends on your own level of comfort and confidence in your
investment knowledge.
If you decide to seek the advice of an investment professional,
you're in good company. In fact, about 60 percent of mutual fund
investors use a financial advisor, according to a 1996 study of
investors conducted for the Forum for Investor Advice by
Yankelovich Partners, a national public opinion and research firm.
The survey found that an additional 13 percent of investors buy
through a financial advisor as well as direct, and 27 percent buy
direct.1
What Services to Expect from Your
Financial Advisor
A financial advisor should take the time to get to know you, your
financial situation, your financial goals and your risk tolerance.
When searching for an advisor, you should expect to receive these
services:
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Personal
attention - Your advisor will take the time to go
through a full interview with you, asking questions to get
to know your entire financial situation, your risk tolerance
and your goals before setting up a customized financial
plan. |
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Help
developing an asset allocation strategy - Once you've
worked with your advisor to determine your risk tolerance,
he or she can help you allocate your money based on a mix of
asset classes with varying degrees of risk that fit your
time horizon and comfort level. |
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Advice
on specific investments that match your goals - When
you're comfortable with your financial plan and have
determined an asset allocation strategy, your advisor will
then make specific recommendations on the types of mutual
funds and securities that will best meet your needs. Your
advisor should be able to provide research supporting his or
her recommendations. |
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Answers
to your financial questions - If the markets become
volatile, your financial advisor should be available to help
you understand the reasons behind the instability. If you
hear of an interesting investment opportunity or a new stock
offering, your advisor has the knowledge to research and
investigate these opportunities and to help you decide if
they fit into your overall plan. |
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Proactive
management of your account - Your advisor can also bring
investment opportunities to your attention, based on
detailed knowledge of your financial plan and goals. Your
advisor can help you manage your expectations by explaining
the rewards and risks of any investment. |
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Ongoing,
regular check-ups - Your advisor should call on a
regular basis to see if your financial situation has
changed. If you've gotten married, switched jobs, had a
child or purchased a home, your financial plan may need to
be adjusted to account for these changes. At least once a
year, your advisor should review your account with you and
make any adjustments necessary to ensure your plan continues
to meet your situation and goals. |
Maintaining a Strong Relationship
with Your Financial Advisor
The relationship between you and your advisor is not just one
party's responsibility. It's a two-way street. Your advisor should
call you regularly to monitor your situation and to review your
portfolio and its performance with you. By the same token, keep
the lines of communication open and update your advisor when your
financial needs or situation changes. It's a good idea to let your
advisor know of situations or events that may affect your
financial plan, such as:
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Marriage
or divorce |
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Birth
of a child |
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Inheritance |
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Substantial
change in income |
Invest Responsibly with a Financial Advisor
Fidelity believes the benefits of using a financial advisor may
make a big difference in helping you achieve your financial
objectives. In fact, as of June 30, 1999, Fidelity managed $182.5
billion in total mutual fund assets for shareholders who invest
through financial advisors.
Your financial advisor can help you invest responsibly through any
market conditions by working with you to weigh your financial
options, develop a sound financial plan, monitor your changing
financial needs, and recommend additions and adjustments in your
asset mix based on a long-term approach to investing.
Get started today. Call your financial advisor.
1
Source: Forum for Investor Advice, 1999. |
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©
Copyright 1996-2000 FMR Corp. All rights reserved.
Excerpt from Fidelity.com,
used with permission. |
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