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 Determine
your financial needs.
Capital preservation? Current income? Tax-free income? Growth of Capital?  Assess your risk
tolerance.
Regardless of the potential return of an investment, you want to be able to sleep at night.  Select several
funds that meet your requirements, and compare their performance histories,
risk factors, and management styles.
Popular financial publications sometimes offer fund comparisons, but your financial adviser has access to in-depth, technical information that can provide a much more finite examination of the funds you are considering.  Determine asset
allocation.
Decide how much of your investment should go into which type of fund.  Monitor the performance
of your investment on an on-going basis, to see that it continues to
meet your needs.
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 Establish
long-term goals.
How much do you need for college education? Retirement? Other purposes?  Research a multitude
of funds and screen out those that do not match your financial objectives.
 Go over the recommended
fund or funds with you, point out the risks, explain other details,
and answer - or get answers - to your questions.
 Monitor your needs
on an on-going basis.
If your needs change, maybe your investment should too.  Guide
you through the rough spots.
This is particularly helpful for equity investors. Stocks bounce around in the short term; they need time to move up. An adviser can help you gain the emotional objectivity and discipline it takes to avoid selling at the wrong time and losing your long-term benefits. |