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Queer Money

Apr 28, 2020

If you have a strong interest in managing your own money, you may not need the advice of a financial advisor. But if you are new to investing or need specific help in planning for the future, you may want to seek out a professional opinion. So, what are the different types of financial advisors you have to choose from? And how do you pick the one that’s the best fit for you?

On this episode of podcast, I’m addressing Zack’s question about the different types of financial advisors. I share the results of the Queer Money Facebook poll on using a financial advisor and explain what you need to know about a fee-only versus a fee-based advisor.

I go on to discuss the characteristics of a fiduciary and non-fiduciary advisor, describing which one is required to put your best interests first and what you can learn about a prospective financial advisor from their Uniform Application for Investment Registration or ADV form. Listen in to understand the differences among a robo-advisor, an online advisor and a traditional advisor and learn how to choose a firm that supports the LGBTQ community!