When you are at a good position in the market, where finances are expanding, you need to control your money. It might seem easy, but the reality is a lot more than that.
As with any planning, you’d need accurate strategy to save, invest and grow. You may think you can do it, but complexities grow over time. A financial adviser would not only not allow your money to stagnate, they’d ensure that you know how to invest it.
Hiring a financial adviser can let you to be serious about your money. You won’t procrastinate when it comes to managing your assets. You can start your watch for good financial advisers by conducting a research first. Check the 10 best financial advisers that you can find near you and see if they work out.
You can start by browsing through the list of 10 best financial advisers in the country. By doing so, you can narrow down the possible characteristics each of them have. This lets you know what you’re looking for.
Once you’ve prepared a plan about what you need, you can start asking around your financial circles. You can approach other professionals and colleagues who’d know.
Other than that, here are few points to remember before hiring a financial adviser:
Look for Certification
A Certified Financial Planner should be on the top of your list before you hand over your finances. A certification adds credibility to a person, because they need to have top notch skills. These skills ensure that a financial adviser knows what they’re doing.
You can use the Certified Financial Planner Board’s information for accurate credentials. This step is important so you know a financial adviser isn’t involved in any unlawful activity.
Once you have a list of potential advisers, certifications can help. Other than that, you can make use of your local governing authority to get information.
Fees and Charges
Financial advisers have their own method of charging you. There are many costs and charges involved. You should be ready for all of this.
There are generally three ways in which financial advisers would charge you.
First would be flat rates/fixed charges, where they would cover a predetermined area. You would pay based on your needs.
Second is on commission basis, where they tell you what is best for you. They may push extra schemes too. It’s advisable to avoid commission based financial planners.
Third involves ascertaining the percentage of your assets the adviser would be managing.
So, you can opt for either a fixed rate or asset based financial management based on your needs. This lets you find someone who is not only affordable, but also ensures that you get the most for your money. They’ll help with investing your money and keeping it growing.
There are companies that work on collecting and maintaining credit information of consumers. These are known as credit reporting agencies (CRAs). There are three such major CRAs in the country, namely Equifax, Experian, and TransUnion. Apart from these, there are other smaller-scale agencies too that specialize at the job. If you’re worried about “where to get my credit score?,” the larger CRAs are the most reliable bets.
These major CRAs obtain information from companies that you hold business and transactions with. People or companies that lend you money regularly report to these CRAs on your repaying status. There is also detailed information on the amount you are indebted and whether you have ever defaulted on your payments. Aside from the reports obtained from lenders, these companies also tally your general records based on certain other aspects. Some of these aspects are your public records from the local and state judiciary. These include your tax records and bankruptcy information. This information makes up an important chunk of your credit score and its report.
Equifax
Present in 24 countries, Equifax is an agency that offers consumers protection against identity theft and credit fraudulence. They also sell credit reports and credit monitoring assistance to businesses.
Experian
Experian started off in London and is now a trusted agency in 39 different countries. It provides you with a credit score, credit report, and even credit tracker on subscription. The agency uses FICO 8 system of credit score calculation. Experian was a part of Forbes’ “World’s Most Innovative Companies” in 2018.
TransUnion
Based across 30 countries with a database of over 1 billion consumers, TransUnion is another CRA giant. The agency, like the other ones, will provide you with your credit score and your credit reports. In case you decide to freeze your TransUnion credit report, it will also go the extra mile to notify Equifax and Experian, which frankly is a big help especially in case of identity theft and credit fraud.
So, the next time you are sat wondering “where to get my credit score?,” think of these three giants that provide you with an annual credit score and credit report for free once each year. However, if you are looking for more frequent updates, you can subscribe to their services and receive your monthly updates.
Did you know that you have more than a single credit score? Agencies calculate your credit score based on the data in your credit reports. If you are wondering, “where to get my credit score?,” there are three main credit reporting agencies. These can have different credit scores for you if your information on each of their credit reports is different. Also, these agencies charge a fee to reveal your credit score.
Recently, it has become easier to track and get hold of your credit score without paying any fees. You can get it from your credit card company, your loan provider, and even from a non-profit counselor. Here are a few tips you can use to check your score.