{"menuItems":[{"label":"Where can I get investment advice?","anchorName":"#where-can-i-get-investment-advice"},{"label":"Why is an investment strategy important?","anchorName":"#why-is-an-investment-strategy-important"},{"label":"Compare brokerage accounts","anchorName":"#compare-brokerage-accounts"},{"label":"Bottom line","anchorName":"#bottom-line"},{"label":"Frequently asked questions","anchorName":"#frequently-asked-questions"}]}
If you’re new to investing, you can find investment advice from discount brokerages that have little-to-no trading fees and offer libraries of educational material on general finance. You can also work with independent advisors or large investment management firms if your financial goals are more complex. We’ll walk you through seven places to find investment advice.
Where can I get investment advice?
1. Discount brokerages
Discount brokerages offer services designed for beginners. You don’t need to open an account to access their educational material online. They offer articles written by experts about the basics of stocks, exchange-traded funds (ETFs), different investment strategies and more.
When you’re ready, you can begin buying and selling shares of stocks and ETFs without paying commission fees. These brokers also let you open an account with no minimum deposits or as little as $1. However, discount brokers may not be the best option for active investors. Some lack the research tools and investment options one would find with full-service brokers.
Sign up bonus: Get 5 or 15 free stocks when you open and fund an account with $100 or $1,000
2. Financial media
If you’re an active investor or day trader, it’s crucial to stay up-to-date on any reliable market news and research you can get your hands on. These resources can give you a deep understanding of who is moving the markets and where you may find profits. But make sure you vet publications and other sources, as some may be feeding too much into market hype.
3. Robo-advisors
One of the easiest ways to get financial advice is through a robo-advisor. Here’s how it works. You visit the robo-advisor’s website and answer a few questions about your finances, risk tolerance and investment goals. The robo-advisor then recommends a diversified portfolio based on answers to your questions. From there, an advanced algorithm monitors and rebalances your portfolio to keep it on track with your goals. You can transfer your assets to a different portfolio if your circumstances change.
Some robo-advisors like Betterment let you speak with certified financial planners (CFPs) if you have large assets to manage. Robo-advisors are provided by discount brokers like Acorns and SoFi Invest or full-service brokerages like Fidelity Investments and TD Ameritrade. Both types of providers typically give you access to educational material on their websites, and some let you work with human advisors as well.
4. Financial planners
If you want someone to help you manage more than just your investments, consider hiring a certified financial planner (CFP). A CFP can help you manage a budget, pay off high-interest debt, save for retirement and more. If they’re registered with the Securities and Exchange Commission (SEC) or an equivalent state regulator, they can also give you investment advice.
CFPs are fiduciaries, which means they are required to provide advice only in your best interests. Their fee structures are usually flexible. Some charge by the hour, while others charge a fee based on a percentage of the investments they manage in your portfolio. This fee can range from 0.05% to more than 1%, depending on the size of your portfolio. But not all CFPs are created equal. So make sure you do some thorough research before you decide to work with one.
Our pick for finding an advisor: Datalign Advisory
If you’re a high net-worth individual, consider working with a Registered Investment Advisor (RIA). An RIA is an individual or firm that provides financial planning and investment management advice to individuals. Here, you can find holistic financial advice around various goals, including the following:
Saving for retirement
Investing in your children’s college education
Tax management through certified public accountants (CPAs) and other professionals
Estate planning
RIA firms vary in services, fee structures and size. Minimum investments can range from $200,000 to more than $1 million. Members of the firm may have different designations like certified financial planner (CFP) and chartered financial analyst (CFA), which makes them stand out. So make sure you do your homework and find a firm or individual RIA that works right for you.
6. Full-service brokers
Regardless of your investment knowledge or income, you can find investment advice at a full-service brokerage. These firms offer services tailored to all levels of investors.
Beginners can find blogs, videos and tutorials about all kinds of investment topics. Many provide account holders with free research tools to help them analyze stocks and develop their investment strategies.
Some well-known companies in this space include Fidelity Investments, TD Ameritrade and Merrill Lynch (Merrill Edge). Each lets you trade zero-commission stocks and ETFs. Experienced investors will have access to teams of financial advisors and analysts who can manage large portfolios. But management fees and investment minimums can vary widely for comprehensive services.
7. Family offices
Family Offices provide wealth management services to ultra-high-net-worth families. A family office team can help these individuals achieve many financial goals for generations.
Retirement planning
Education funding
Tax management
Estate planning
Charitable giving
Investing advice
Debt management
Will drafting
Aircraft and yacht management
Travel planning
Business management
However, these services don’t come cheap and they’re usually reserved for the most affluent families.
Why is an investment strategy important?
Every investment you make has the potential to grow, but you can also lose it all at any moment. So you need a plan. Make sure your immediate finances are covered before you invest, and be aware of your risk tolerance. You also need to analyze your investment options carefully and diversify your portfolio strategically. Doing so can net you strong returns while giving you a cushion when the market drops. You can find investment advice at many places. But it’s best to tailor this advice into a strategy that’s uniquely yours.
Compare brokerage accounts
If you’re interested in going with an online broker, there are plenty of brokers out there but not all are created equal. Fees, investment types, tools and more can vary widely so make sure you compare brokerages before you invest.
1 - 7 of 7
Paid non-client promotion. Finder does not invest money with providers on this page. If a brand is a referral partner, we're paid when you click or tap through to, open an account with or provide your contact information to the provider. Partnerships are not a recommendation for you to invest with any one company. Learn more about how we make money.
Finder is not an adviser or brokerage service. Information on this page is for educational purposes only and not a recommendation to invest with any one company, trade specific stocks or fund specific investments. All editorial opinions are our own.
Bottom line
Whether it’s a reliable blog post or a meeting with a registered investment advisor (RIA), there are plenty of places to find investment advice. Some are more accessible than others depending on your unique situation.
Once when you have the advice you need, you can begin trading stocks and launch your investment strategy.
Frequently asked questions
In some cases, you don't need any money to get investment advice. Some market news is accessible for free, and several brokerages also publish educational material about investing on their websites. But if you want personalized financial planning and investment advice, you'll need to pay fees. These fees vary depending on your advisor's fee structure and how much work the advisor needs to do.
The average asset-based fee for investment advice is 1%. But some financial planners charge hourly fees or flat fees that can span from $120 to $300. The average flat fee for financial advice is $7,500 to $55,000. But it depends on the assets you want managed and the duration of the advisor's services.
If you're working with a registered investment advisor (RIA) firm or individual, you can look up their Form ADVs on the database of the Securities & Exchange Commission (SEC). These official documents disclose fees and other key specifics like potential conflicts of interest.
Fees vary across advisors. Some charge on an hourly basis. Others charge an annual fee based on a percentage of your portfolio's assets. Some work on a combination of both. But carefully vet those that make money off commissions, sometimes called "fee-based" advisors. Commissions are payments they get when you invest in a particular product.
Your best bet is to work with a fee-only fiduciary advisor, who is legally obligated to offer advice only in your best interest.
In most cases, yes. Advisors registered with the SEC can legally give you investment advice regarding your 401(k) or any other retirement plan. You can find these at full-service brokerage firms or RIA firms. Many certified financial planners (CFPs) are registered to give investment advice as well.
{"menuItems":[{"label":"Where can I get investment advice?","anchorName":"#where-can-i-get-investment-advice"},{"label":"Why is an investment strategy important?","anchorName":"#why-is-an-investment-strategy-important"},{"label":"Compare brokerage accounts","anchorName":"#compare-brokerage-accounts"},{"label":"Bottom line","anchorName":"#bottom-line"},{"label":"Frequently asked questions","anchorName":"#frequently-asked-questions"}]}
Here are the 10 best gold stocks based on year-to-date returns for December 2023.
{"menuItems":[{"label":"Where can I get investment advice?","anchorName":"#where-can-i-get-investment-advice"},{"label":"Why is an investment strategy important?","anchorName":"#why-is-an-investment-strategy-important"},{"label":"Compare brokerage accounts","anchorName":"#compare-brokerage-accounts"},{"label":"Bottom line","anchorName":"#bottom-line"},{"label":"Frequently asked questions","anchorName":"#frequently-asked-questions"}]}
Here’s what happens to your securities if your brokerage fails, and how your assets are protected by SIPC and FDIC.
{"menuItems":[{"label":"Where can I get investment advice?","anchorName":"#where-can-i-get-investment-advice"},{"label":"Why is an investment strategy important?","anchorName":"#why-is-an-investment-strategy-important"},{"label":"Compare brokerage accounts","anchorName":"#compare-brokerage-accounts"},{"label":"Bottom line","anchorName":"#bottom-line"},{"label":"Frequently asked questions","anchorName":"#frequently-asked-questions"}]}
Treasury Bills are fixed-income assets with maturities of less than one year. Here’s what to know before investing.
Javier Simon is a freelance finance writer at Finder and a certified educator in personal finance (CEPF).
He’s featured on NerdWallet, Bankrate, Yahoo Finance and Fox Business, where he’s shared his expertise on personal finance topics, such as investing, retirement planning, taxes, budgeting and savings.
He has also covered breaking news, such as student loan forgiveness initiatives, the housing market and inflation’s impact on consumers’ wallets.
His passion is turning complex financial concepts into actionable content that can help people improve their financial lives.
Javier holds a bachelor’s degree in multimedia journalism from SUNY Plattsburgh.
How likely would you be to recommend finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Advertiser Disclosure
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
