Gilbert, PA -- (ReleaseWire) -- 03/05/2014 -- Times have changed and so have financial advisors. According to Harding, "Today, people don't want financial advice from a salesman. Instead, they want a relationship with a financial professional who is candid, trustworthy and thoroughly educated; who provides personalized financial consulting for each client." That search in the Lehigh Valley area of Allentown, Bethlehem and Easton as elsewhere often leads them to a fee-based or fee-only financial advisor who works with a Registered Investment Advisory firm.
People need unbiased advice. Harding explains, "That's probably the #1 reason why people seek an independent financial advisor. They know that the advice they receive is not influenced by sales incentives or directives." There is a candor to the discussion that may not be present at a bank or a brokerage trying to push certain products.
People want more investment choices. An independent financial advisor is free to offer investments from dozens, maybe hundreds of companies, rather the investments of a single company. "In addition, that independent advisor can unhesitatingly tell if an investment is or isn't appropriate," Harding cautions.
People want an advisor who looks out for them. The best financial advisors earn trust through their character, ability and candor. In handling portfolios for clients, they have learned to watch for unique concerns, and to be aware of certain issues that may get in the way of wealth building or wealth retention.
People want a smart alternative to Wall Street. Old-school stock brokers have a sales-first mentality. Their goals are uniform and simple: make a sale and earn a commission. Brokers regularly contend with sales quotas with inherent potential for conflicts of interest. Given the tarnished reputations of so many giant banks and brokerages, it isn't surprising that consumers are turning to trained professionals for financial advice. Here are a couple of popular choices.
A fee-based financial advisor has a practice structured to promote earning income from fees instead of commissions. The emphasis is on advice. An independent, fee-based financial advisor also has freedom to choose the most appropriate investments and services for your risk tolerance and investment goals.
A Registered Investment Advisory Firm (RIA) An RIA receives management fees and does not receive commissions. The management fees usually represent a percentage of the assets a client has invested. RIAs have to register with the local State Securities Commission, and may need to register with the Securities and Exchange Commission. Individuals, couples, families and institutions with wealth management concerns often turn toward RIAs.
Even as the market has struggled since the end of 2007, independent Registered Investment Advisors have gained a greater share of assets under management in the United States and financially expanding areas of Allentown, Behtlehem and Easton in the Lehigh Valley.
This release was originally submitted via Newswire.
Glen Harding, President
Harding's Wealth Managers
Route 209 PO Box 637
c/o First National Bank Executive Office Suite 2
Gilbert, PA 18331