conversation: User (ThreeAmigos123): "If you're like me and know very little about the world of finance, what basic research should you do before choosing a financial services company/financial advisor to invest you're money? \nI've done some reading on finance and I understand the basics concepts of how financial instruments work but I don't know enough about how the market works, how the formulas work to determine how a stock is performing, how to analyze market patterns, etc. So like most people, I'd like to invest my money with a financial services company but I know I should have at least some basic understanding of how my money is being invested and how well my portfolio is being managed, as well as the fees associated with hiring a financial advisor to manage my portfolios in the first place. That way, I know the risks I'm agreeing to and am responsible for, and I'll know if my money is being mismanaged or not. \n\nIn case you're wondering, Im a young guy in his late 20's who'd like to get a jump on his finances as early as possible so I have some financial security later in life. Im excited about investing but once again, I wouldn't know where to start and what my responsibilities are in letting a financial services company manage some of my life savings. "
  Self: "IMO, the individual advisor is more important than the company they are affiliated with. Before you hire someone you should know if that person is going to be your person long term, or if the company could bounce your account between Reps. Be comfortable with them and their processes. Even if you don't understand the intricacies of investing, they should be able to explain in plain English what they are investing in, how much it will cost you (both now and the long run), and how they're compensated. \n\nThere's not as much different as you'd think between a small independent advisor and someone who works for a large company. Most independent advisors are still using the same information and systems as the ones at larger financial services companies. "
  