If you are looking to invest your money there are many investment opportunities available. An investment adviser will guide you in taking the right investment decision. They analyze all risk factors before they invest your money in the market. However, not all people need an investment adviser. Here are a few reasons why you should not hire an investment adviser:
a) Most investment adviser claim to multiply the money you invest with them. This may be true in some cases but not always. Investment advisers are aware of the market conditions and could get you the desired return in a particular month. However, it is difficult for adviser to get you high returns every month. Most people who use the services of an adviser have access to internet. They can make use of the free advice available on the internet and invest their savings after studying the pros and cons of investment.
b) You can also read investment and money management books to get information on the investment options available in the market. Books and newspapers are excellent source of information for people who are looking to invest in the market. You can also get information from personal finance blogs that offer free information. These sites help you understand what people do to earn high return on their investment.
c) If you have a complex investment problem then adviser can be of great help. However, if you are starting fresh and looking to invest money hiring a financial adviser can be expensive. Most advisers make money from companies that they invest with. They are usually paid a fee or a commission by investment companies. It is in your interest to invest your money through a fee based adviser as they will be completely honest with you. They do not get financial incentives from investment companies and will try to maximize your profit.
So next time you approach an investment adviser, make sure it is absolutely necessary.