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Eliminating Financial Clutter with Tips from Your NYC Professional Organizer

NYC Professional Organizer Eliminates Financial Clutter If your investment portfolio is a collection of accounts with no rhyme or reason, it can lead to “financial clutter.” It’s not uncommon to change jobs many times, leading to the accumulation a lot of accounts, without having a well thought-out investment strategy. A NYC Professional Organizer can help organize your financial accounts, and a financial advisor can assist in devising an ongoing strategy to help you meet your financial goals.

So how do you know if you have a good financial advisor or just a salesperson –someone that is more interested in their commission than your financial future? Your NYC Professional Organizer points out that it’s wise to do your research and not turn your money over to just anyone who claims to be a financial advisor. According to financial expert Suze Orman, here are 10 warning signs of a bad financial advisor:

They rush you. If they tell you there’s a deadline on the investment and try to rush you, run! They are a salesperson and not a financial advisor.

They don’t tell you how they’re paid. There is a cost associated with any investment and the advisor needs to be upfront on what it’s going to cost you.

They want to put everything in one investment. You should diversify your money – be very wary if your advisor wants you to put all or most of your money into one single investment.

They want to meet with you alone. If you’re married, have a life partner or are responsible for someone else’s finances, the advisor should never want to talk to you alone.

They don’t ask about your needs. Your advisor needs to know if it makes sense for you to invest or first take care of your needs. They should ask you lots of questions!

They don’t have answers to your questions or concerns. Beware if your advisor doesn’t get you the information you request about an investment.

They don’t send you legitimate monthly statements. You should receive monthly statements from the brokerage firm that’s holding your money, not your advisor’s office.

They don’t send you quarterly and annual reports. You should receive quarterly and annual reports from your advisor. These reports explain the return your advisor is getting on your investments, as well as all fees and commissions.  The advisor’s report should match the report that comes directly from the brokerage firm.

They want a check made out directly to them. A huge red flag is if the advisor asks you to write a check made out to them personally. For your protection, every check should be payable to a financial institution.

They don’t inform you of changes. The last warning sign is if your advisor doesn’t inform you of any drastic changes. If a stock has gone down, or is not performing the way they expected, you should hear about it from your advisor, not read about it first in the newspaper.

Guest author Terri Stephens is the founder and Chief Professional Organizer of Real Order Professional Organizing, LLC. Since 2003, she’s helped busy homeowners with their clutter and organizing needs in metro Atlanta and surrounding areas. Terri is also a Senior Move Manager and helps older adults and their families with later-life moves.

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