When the market makes huge movements toward the upside, or the down – it creates an opportunity for retail investors to jump in and make some good money. If you can time your investment right during a fall in price, there is a possibility that the stock you bought returns to its original value in a short period of time and you get some easily earned extra cash.
In addition to this, market swings can greatly impact the value of investors’ portfolios. Many people currently hold stock, so while they might be able to capitalize on a fall in price – they will also feel that fall in price in their own portfolio. That is why It’s so important to meet with a financial advisor to understand what is happening to your investments during these times.
Because of the current state of the market, we figured it would be a good time to go over the best methods of obtaining sound and reasonable financial advice from trusted and professional people.
One place many people seem to overlook when they first decide to seek financial aid is their own bank! Most banks in the U.S also offer the option for their clients to meet with financial advisors.
Many banks offer financial services, such as the one profiled here. If you aren’t sure whether or not your bank offers financial advice, call up your bank today and find out. Some banks even offer lower fees or other incentives such as free checking if you choose to get financial advice through your bank.
Probably the safest place to choose for handling your investments, stock research tools indicate that Charles Schwab has offered financial advice to investors ranging from individuals to corporations for 45 years. Charles Schwab offers a variety of financial services that start at $5,000.
There are a few different types of investment options you can choose from. The first is their automated investing system, which as the name suggests, will automatically invest your money for you.
Then there’s guided investing, where a financial advisor will meet with you personally to discuss your investments. If your pocket is deep enough, you can have entire teams of financial advisors dedicated to assisting you with your investments.
Finally, they also offer the “Blend of both” plan called the Schwab Intelligent Portfolios Premium. With this plan, you will have access to advanced technologies such as their robo-advisors that will generate a portfolio for you based on your interests.
Of course, they also offer unlimited financial guidance from a certified financial advisor as well.
Finally, it should be noted that online brokers typically have a multitude of resources they offer to their clients. TD Ameritrade for example is probably the best brokerage when it comes to the resources they offer – as they have free videos, quizzes, and more.
TD Ameritrade is not the only good online brokerage that also offers educational resources however. We recommend checking out nerdwallet’s list of the 11 best online stock brokers for beginner investors.
Knowing where to look for financial advice is key in order to make safe investments, and we hope this article helps you make the correct decision. We went over 3 different types of financial advice outlets, and what makes each of them unique. Depending on where you are in your life, you may be able to have a financial advisor, or you may want to just use a robo-advisor and conduct a bit of research.
Remember to do your due diligence and practice proper risk management, and you should make it through this bear market.