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New Website Helps You Find A Quality Financial Advisor

8 October 2010 7 Comments

I have a healthy skepticism of financial advisors for a number of reasons. First, financial advisors have their compensation tied to how much a client is invested in various assets, which can often lead advisors to pushing clients to be fully invested no matter what the circumstances or market conditions. Secondly, many advisers’ performance underperforms the broad market and investors would be better off simply buying an S&P Index ETF and not paying an adviser any fees.

With that said, some financial advisors do a great job and some actually have you, the investor, as the priority versus the amount of fees he or she is bringing in. The question becomes, how can you find a quality advisor? How can you find an advisor that will put your interest above his own interest? Thankfully, there’s an excellent new resource to help you do just that.

Know Your Financial Advisor (KYFA.com) is a new website that is claims to be North America’s largest directory of financial advisors. After a review of its site, it seems like they have created some really valuable tools to help you compare, evaluate and find a financial advisor.

One of the best features of the site is a questions and answers section which allows you to post questions that advisors can publicly answer. The value here is that for the first time ever you can directly ask the financial advisory community questions. Finally, you can start your research on advisors online by casual Q&A!

I also heard that the site has North America’s first advisor-investor matching tool in development. When it launches, the site will make finding a quality advisor even easier.

This financial advisor directory can be an amazing tool to help you connect with quality potential financial advisors. In today’s economy and with today’s markets, you should take advantage of every tool at your disposal and KYFA.com is a great place to start if you have or were thinking about using an advisor.

For more information, check out the website: www.kyfa.com.

20smoney.com was compensated for this objective review of the site mentioned.

7 Comments »

  • John B. said:

    Buying an S&P Index ETF? So you are at the mercy of one index? A little outdated advice. I agree that a well diversified/built portfolio should at least keep pace with the S&P but the real test is how it holds up on the downside. What I mean is if you can find yourself an advisor, as I have, who can give you proper asset allocation that keeps up with the S&P but doesn't suffer the same as the S&P in terrible market conditions then you found yourself a winner.

  • 20smoney said:

    John:

    Well that's obvious. My point is that most people build portfolios that mimic the S&P on the up and the down, and pay someone to do it.

  • supratkshoes said:

    very nice posting, i surely adore this web site, keep on it.

  • silver fish said:

    Interesting…do the financial advisers have to pay to be on the site?

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  • healthy lifestyle said:

    Youre so cool! I dont think Ive read anything like this before.

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