Best Financial Advisors in Hialeah

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 financial advantages of annuities in Hialeah?

  Annuities in Hialeah are financially advantageous because the income from them can be deferred. The taxpayers do not have to declare taxable gains until the interest growth is distributed or withdrawn. It is an estate planning tool that transfers assets to heirs without probate and saves on court costs. Income is also very likely, given the long-term nature of the product.

• How can individuals in Hialeah and elsewhere curb their spending habits?

  Individuals in Hialeah and elsewhere can curb their spending habits by creating a budget based on one's personal goals and then sticking to it. Instant gratification must be avoided while long-term objectives are kept in mind. Credit cards are useful for building ratings but must not be wasted on excesses.

• How do socially responsible investing and sustainable investing differ in Hialeah?

  In Hialeah, sustainable investing is the evolution of socially responsible investing. The latter is a movement where investors would purposefully ignore putting money in areas that caused negative health and social outcomes, like the tobacco industry. Sustainable investing expanded the scope of this paradigm to include governance and environmental considerations.

• Should a person who intends to receive dividends in Hialeah invest in bonds or stocks?

  If a person in Hialeah plans to make dividend payments the investment has to be made in stocks. Stocks are proof of partial ownership in a company, and as part of ownership, one gets a cut in the corporation's profits if any are declared for distribution. Bonds are evidence of a debt and prove that a business owes a person and promises to pay back. However, there is no part ownership and no distribution of profits.

• What is the product fit for a novice investor in Hialeah who wants to invest in stocks but does not want to micromanage every share?

  A new investor in Hialeah who wants to invest in stocks but does not want to micromanage the shares could resort to mutual funds instead. With these, a professional manages a portfolio of stocks for the client, and these are based on the goals set by the individual. It allows a person to enter the stock market without worrying about inexperience.

• 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.