Fiserv, Inc., a leading provider of financial services technology solutions, has developed a concise list of New Year’s resolutions aimed at getting your finances in order and establishing productive investing habits starting this year.
Many people have a distorted look on financial planning and investing. People think that they aren’t wealthy enough to think about these kinds of things. However, there are all sorts of different plans available to those with a wide range of income and investing capital. In addition to speaking to a financial planner chances are your current financial institution offers some form of free online tools to assist in helping you achieve your financial goals and establishing good financial habits.
“Market volatility and economic uncertainty are leading many investors to rethink how they handle their personal finances and investments, and the industry is responding,” said Cheryl Nash, president of Investment Services, Fiserv. “There is a new advice model emerging and individual investors should explore the options available to them in order to find a financial advisor who meets their needs and can work with them to achieve their goals.”
Web-Based Personal Financial Management
It is never too early to start thinking about the future and planning your financial strategy. Often those entering into their first career start thinking about fun future expenses, such as a new car, house, getting married, etc. Many often get caught up in these fun thoughts and procrastinate planning their financial investments, even though this is the best time to start. If you are not ready to speak with a professional there are great personal financial management tools online with a wealth of information that can help get your planning started.
Financial Advisor
Investors with more knowledge and experience can benefit from speaking to a qualified financial advisor. Advisors offer face-to-face personalized investing advice and strategies built specifically around your needs. Investors should put in some extra time to research and find the best planner that will work best for you and your investments. A quality financial advisor will weigh risks of particular investments, explain how to properly diversify a portfolio in order to minimize loss against market volatility, and will listen to the amount of risk the investor is comfortable with and find investments that match that expectation.
Certified Financial Planner
A certified financial planner is the next step up the investing ladder. These professionals have extra training to deal with large portfolios and guide investors with big picture goals and higher risk tolerance. CFP’s can also help investors with varying stages of their financial life and strategic plan by focusing on estate and tax planning in order to prepare for both predictable and unpredictable future events.
Private Bank
Finally, there is the private bank option for those investors with high net-worth. These private banks have a separate business unit with client advisors trained specifically to handle high net-worth individuals. These individuals require specific strategies because their worth, as well as the way their assets are generally generated, function similarly to institutional investors.
Ringing In the New Year
“Now is not the time to take chances with your investments,” said Nash. “My advice for investors in the new year is to begin with a plan. Spend time using tools to see the big picture for your household and talk with one or more financial planners to select an advisor to help you take charge of your financial future and maximize your investment potential.”
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This information is provided for informational/educational purposes only. The opinions referenced are as of the date of publication and are subject to change due to changes in the market or economic conditions and may not necessarily come to pass. Nothing presented herein is or is intended to constitute investment advice, and no investment decision should be made based on any information provided herein. Past performance is no guarantee of future results.
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