Choosing a Firm
There are so many options available to pilots today, that it can be difficult to know where to begin looking as retirement approaches. At Retirement Advisors of America, we feel that education is a critical factor in making the best choice. While we hope that you would consider us as one of your choices, ultimately we want to help you make the choice that you are most comfortable with.
Develop a Plan
First, find your available options. In today’s world the number of options can be infinite, so taking time to narrow the field, and develop a plan of action, will help focus your attention and provide the most value.
- Assess
Assess your situation, and determine where you want to go. Begin gathering all your available retirement information from company retirement plans, 401K’s, personal IRA’s, and any other retirement assets you have set aside. Next, begin thinking about your goals during retirement, and any other major expenses you may incur. After assessing your current position and your future needs, you can begin looking for the tools that will be needed to get you there. - Gather Information
Begin talking with friends, family, and co-workers about their experience and recommendations. Take time to look closely at the different options available to you, and then research, research, research. Compare items such as performance, firm history, and credentials. Find the areas of comparison that matter most to you, and begin to narrow the list of options that meet those needs. - Narrow the Choices
There is no magic number to use as you begin to look more in depth, but two or three serious choices will usually give you the ability to research specifics, without getting overwhelmed with details.
Take a Closer Look
There are certain factors that should be looked at in some depth. While many companies may seem very similar; some bottom line criteria can help show differences between firms.
- Account Specifics
Different firms have different account minimum requirements. While an account minimum is not a reflection of quality, it is beneficial in determining the focus of a firm. - Services
As with any service oriented business, each firm offers its own personality in the quality and performance of its services. A proven track record of satisfied customers is a good indication that the service level of the company is satisfactory. Never be afraid to ask for references in order to evaluate customer satisfaction. - Expenses
While the fees charged across firms may seem relatively similar, the real key to the cost you are paying is the value received for the dollars spent. - Track Record
A strong reputation and past record of satisfaction should not be overlooked in the pursuit of the best investment advisor for your needs.
Make a Choice
There are many unique circumstances and services available in the market today, and the choice of where to place your investment assets is a very personal one. After developing a plan and narrowing the choices, the moment will arrive when the choice must be made. While the information and research you have gathered will often not be the final determination, it will make this decision easier.
