The trends -- and what they mean for your wallet
Fred Taylor //October 7, 2015//
The trends -- and what they mean for your wallet
Fred Taylor //October 7, 2015//
When I co-founded the investment advisory firm Northstar 20 years ago, the advisory business was truly a cottage industry. There were only three advisors in the Denver-area that had assets of more than $500 million under management. Most investors took advice from stock brokers or their local bank’s trust department officer.
Today, there are more than 20 advisors in Denver alone with assets of $500 million or more (including Northstar) and thousands of registered investment advisors nationwide.
Not only have the number of investment advisors grown, but the entire field of professionals offering investment guidance has expanded as well – ranging from financial planners to insurance agents to accountants. The vast array of choices, however, can often leave investors confused and unsure about where to turn for investment advice.
Here’s a look at some of the trends I’ve witnessed during my 20 years at Northstar and what they mean for consumers:
Selecting the right investment advisor is really important. You need to find someone who is honest, hardworking and trustworthy. It sounds easy, but it really isn’t. The best way to find a good person to work with is to ask for a referral from a trusted source who can tell the difference between an advisor, who truly has your best interests at heart or a broker or agent who is simply trying to sell you something.