7 Times You Need help from Michael Bach Atlanta
Michael Bach Atlanta, an advisor in his own Georgia Based financial Advisory firm, was among the country's very first certified financial planners. It's been more than 40 years since he is certified, and he says he still finds that people overlook the value of a planner and misunderstand what they do.
"Sometimes people think a planner might be employed by a particular insurance company and direct into investments sold by that company," he says.
On the contrary, a good financial planner isn't going to sell you a specific product in order to make a commission. Instead, a quality advisor will listen to your goals, look at your current finances and recommend how best to move forward with your money.
While you don't always need to work with a planner on an ongoing basis, there are times when it makes sense to stop in for some financial advice and consultation.
The key to finding the right financial adviser is working out what type of advice you need.
For example, are you looking for help with investing into your pension or a stocks and shares ISA? Are you coming up to retirement?
Are you looking for a mortgage or perhaps life insurance? Do you need specialist home, car or travel insurance?
There are lots of reasons why people need advice from Michael Bach Atlanta financial adviser but there are also lots of different types of adviser, so it pays to know who to go to and when.
How to find a financial adviser
Personal recommendation from friends or family is one way to find a financial adviser but it’s not always easy to work out whether an adviser has done a good job until years after they have given the advice.
Being ‘nice’ doesn’t always mean that they are a good adviser.
Some unions or affinity groups and workplace pension schemes have selected advisers to recommend to their membership.
So if you’re a member of one of these groups, check with them first.
Types of adviser
Financial advisers come in different guises and aren’t always called ‘financial advisers’.
Sometimes they are named by their specialism such as ‘mortgage adviser’, ‘investment adviser’, ‘pension adviser’ or ‘financial planner’.
Sometimes they are known as ‘brokers’ - often when dealing with products such as:
This means there are rules they must follow when dealing with you.
Advisers who deal with: Investments; pensions; retirement income products (such as annuities) and general financial planning
Since January 2017, advisers recommending these types of products carry higher levels of qualifications.
Prior to this, many were paid by commission collected from charges on the products they sold.
In reality, advisers who provide advice on the products listed above, might also provide advice on protection insurance (such as life insurance) and sometimes mortgages.
Many offer holistic financial planning, where they will advise you on all aspects of your financial needs.
Advisers in this category are classified as either independent or restricted.
Restricted advisers might either be restricted in the type of products they offer, or the number of providers they choose from.
"Sometimes people think a planner might be employed by a particular insurance company and direct into investments sold by that company," he says.
On the contrary, a good financial planner isn't going to sell you a specific product in order to make a commission. Instead, a quality advisor will listen to your goals, look at your current finances and recommend how best to move forward with your money.
While you don't always need to work with a planner on an ongoing basis, there are times when it makes sense to stop in for some financial advice and consultation.
The key to finding the right financial adviser is working out what type of advice you need.
For example, are you looking for help with investing into your pension or a stocks and shares ISA? Are you coming up to retirement?
Are you looking for a mortgage or perhaps life insurance? Do you need specialist home, car or travel insurance?
There are lots of reasons why people need advice from Michael Bach Atlanta financial adviser but there are also lots of different types of adviser, so it pays to know who to go to and when.
How to find a financial adviser
Personal recommendation from friends or family is one way to find a financial adviser but it’s not always easy to work out whether an adviser has done a good job until years after they have given the advice.
Being ‘nice’ doesn’t always mean that they are a good adviser.
Some unions or affinity groups and workplace pension schemes have selected advisers to recommend to their membership.
So if you’re a member of one of these groups, check with them first.
Types of adviser
Financial advisers come in different guises and aren’t always called ‘financial advisers’.
Sometimes they are named by their specialism such as ‘mortgage adviser’, ‘investment adviser’, ‘pension adviser’ or ‘financial planner’.
Sometimes they are known as ‘brokers’ - often when dealing with products such as:
- Mortgages
- Home and car insurance, or
- Investments including shares.
This means there are rules they must follow when dealing with you.
Advisers who deal with: Investments; pensions; retirement income products (such as annuities) and general financial planning
Since January 2017, advisers recommending these types of products carry higher levels of qualifications.
Prior to this, many were paid by commission collected from charges on the products they sold.
In reality, advisers who provide advice on the products listed above, might also provide advice on protection insurance (such as life insurance) and sometimes mortgages.
Many offer holistic financial planning, where they will advise you on all aspects of your financial needs.
Advisers in this category are classified as either independent or restricted.
Restricted advisers might either be restricted in the type of products they offer, or the number of providers they choose from.