Best Financial Advisors in Roseville

Frequently Asked Questions

• Introduction

  There are many titles for financial professionals, so it's challenging to track what each one means. A financial advisor is probably the term you've heard most often. Financial advisor is a broad term for a professional who helps individuals or companies manage their finances, including investment choices. There are over 100 certifications that financial advisors can obtain.
  

  • Financial planners, wealth managers, and investment advisors are all financial advisors with different focus areas.
  • A financial planner helps an individual or a company make a plan to achieve long-term financial goals.
  • A wealth manager helps individuals maintain their wealth through various disciplines and services, such as taxes, estate planning, and investment advice.
  • An investment advisor offers investment advice and recommendations to individuals or organizations.
    

  There’s a misconception that you have to be extremely wealthy to use a financial advisor. In reality, they can be beneficial for people from any income level. Keep reading to find answers to the most commonly asked questions about financial advisors, so you know which type can fit your specific needs.
  

• What are the membership standards for a NAPFA-registered Roseville financial advisor?

  Membership standards for NAPFA-registered Roseville financial advisors include the following:

  • they are fee-only and cannot receive compensation such as commissions, awards, rebates, finder’s fees, or bonuses;
  • they may not be employed by or own any interest in financial services firms that give commissions and other compensation;
  • they abide by NAPFA’s bylaws, standards of affiliation and membership, and code of ethics as well as state and federal regulations.

• How does a Roseville fee-only financial planner differ from a fee-based one?

  A Roseville fee-only financial planner differs from a fee-based one by how much clients pay. Fee-only advisors are paid by clients for the service they receive, and the process is transparent and straightforward. They have the fiduciary responsibility of serving the best interests of their clients exclusively. Fee-based advisors, on the other hand, are paid by the client, while at the same time, they also get commissions for the products that the client purchases.

• How can Roseville residents boost their savings?

  As a Roseville resident, you can boost your savings by taking advantage of an employer’s matching of your savings contribution. Also, increase savings by one percent per year to achieve a 15 percent rate in 10 years without effort. Explore workplace opportunities such as employee stock purchase and ownership plans and profit-sharing plans. Put savings in tax-deferred retirement accounts. Finally, use a credit card with cashback that directly deposits to your retirement account.

• What education expenses in Roseville can a 529 plan pay for?

  Certain education expenses in Roseville are qualified to be paid by a 529 plan. For post-secondary educational institutions, they can be tuition, fees, supplies, books, peripheral equipment, computers, room and board, and special needs expenses connected with attendance and enrollment. For K-12 considerations, a maximum of $10,000 in tuition expenses per year is qualified.

• Is there a difference between a Roseville wealth manager and financial advisor?

  While clients often typically interchange the meaning and function of wealth managers and financial advisors, there are differences between the two. Wealth managers take into consideration the overall short-, intermediate-, and long-term financial goals of their clients and offer a comprehensive wealth management strategy. The wealth management profession combines skills, knowledge, trust, and experience. In contrast, typical financial brokers and advisors often focus on commission-based services and products.

• Are financial advisors worth it?

  Whether or not a financial advisor is worth it depends on your personal situation. If your finances are fairly straightforward, then you may be better off handling it on your own. But if you have substantial assets or a complex investment portfolio, then hiring someone to handle it for you can be well worth the cost.