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Albuquerque Financial Advisors

Are you wondering if you have enough saved for retirement? What about enough money saved for 20 to 30 years past your retirement? Do you want a cushy nest egg during your Golden Years? A financial advisor can help you meet your financial goals by assessing your risk and taking your age and retirement age into account before making recommendations to grow and diversify your investment portfolio.

There are several certified financial planners (CFPs) in Albuquerque and dozens across New Mexico that can help you get your finances and investments on track. Before you choose a financial advisor, you will need to know what to expect in a pay structure and where to find a reliable and legitimate CFP in ABQ.

When Should You Call a Financial Advisor?

Since a financial advisor could help your current retirement accounts grow, hiring one right away may be the best option for you. The longer you have before retirement, the easier it may be to reach your financial goals with the help of a CFP.

You should also keep your financial planner in the loop concerning any major life events. This can include marriage, divorce, the death of a spouse, or the sale or purchase of a home. The financial advisor can let you know if any of these will change your financial outlook and make adjustments, if necessary.

Where to Locate Financial Advisors in Your Area

You can use the following credible websites to locate financial advisors in the Albuquerque area:

The National Association of Personal Financial Advisors (NAPFA) lists fee-only advisors across the country. You can search for CFPs by location or name.

The CFP Board of Standards keeps a database of certified professionals. You can search by name or location as well as research the advisors’ past history.

The Better Business Bureau (BBB) for New Mexico and Southwest Colorado has listings for four financial advisor businesses.

Choosing a Financial Planner in ABQ

You can find a CFP in Albuquerque using the CFP Board’s website, and you can also research each potential planner. The site provides the certification status, bankruptcy history, plus lists any disciplinary actions taken against the CFP by the Board.

If you receive referrals from your friends, family, or colleagues for financial advisors, you can use the CFP Board site to research and compare those prospects.

When you meet a potential advisor for an interview, ask them to explain their fee structure to you. Most CFPs are paid either on a fee-only basis, commissions only, or a combination of the two.

CFPs that charge a fee tend to do so annually as a percentage of your holdings based on your investment portfolio’s performance. Those that work on a commission-only basis earn a profit on the investment products you purchase. This can lead to a conflict of interest so make sure the advisor is a fiduciary and represents your best interests.

The financial advisors that offer their clients several services may charge a fee and earn a commission. Ask the advisor to explain in-depth when each pay model applies.

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