Creative Money LLC is a Seattle-based professional financial planning firm. The team is made up of highly-qualified professionals who are committed to helping clients achieve financial independence. Mindy Crary is the founder of the company. She has a master's degree in business administration and over 20 years experience in the financial sector. She holds professional coaching certifications.
Financial advisors are not qualified to give advice
Only financial advisors in Seattle can provide advice and not offer any financial planning. They advise clients on their portfolio investments and give suggestions, but don't push clients into specific investments. They may also offer information about possible investment opportunities which can prove to be very valuable. Many clients remain skeptical about the services offered by these financial advisors.
A great way to establish a long term investment strategy is to engage a financial adviser. They can help build an investment portfolio to help you reach your financial objectives, including retirement. Moreover, a financial advisor with local roots will be familiar with the economy of the Seattle region, including the costs of living and the employers in the area.
Financial advisors who charge a fee
There are two types Seattle-based financial advisors. One is fee-based, the other is fee-only. Fee-only advisors are paid only by their clients. This contrasts with a fee-based financial adviser, who is compensated only by fees from their clients. Inherent conflict of interest is a result. Additionally, the law requires a fee-only advisor to act only in the clients' best interest.
A fee-based advisor charges a fee, which can vary depending on the client. A fee for services varies from $600,00 to $1 million, but it is usually based on the client's net worth. Many fee-based advisers in Seattle offer complete wealth management strategies. The fee-based advisors are able to help with many other areas, including portfolio management and estate planning.
Wealth management companies
Seattle's wealth management companies offer a wide range of services including investment management and financial planning. They work with high-net-worth individuals, businesses, and pension and profit-sharing plans to achieve their financial goals. They can offer customized financial management strategies and investment strategies to suit each client's individual financial situation.
Miller Advisors, a independent fee-only wealth manager firm, is one among the most prominent wealth management firms in Seattle. This firm offers comprehensive services such as investment management, estate planning, retirement planning, and family planning. The firm is composed of certified financial and legal planners as well estate planners. The combined experience of the team is 50 years. They have extensive experience helping families to manage their finances.
The cost of working as a financial advisor
Financial advisors may charge a flat fee or an hourly fee for their services. Some financial advisors charge an hourly rate while others charge an annual one percent fee. Asset management fees range from approximately $230 an hour up to $7,500.
Before you hire an advisor it is important to be aware of the charges. You may not need certain services and some advisors will charge you an hourly fee. Some also charge a one-time fee for answering limited questions. Good financial advisors will want to build a long-term relationship.
FAQ
How long does a consultant take?
It depends on the industry and your background. Most people start out with a few months before they find work.
Some consultants work for years to perfect their skills, before being hired.
What qualifications do you need to be a consultant?
You don't just need to have a MBA, you also need to demonstrate your ability as a business consultant. You must have at least two years' experience working in consulting and/or training within a large company.
You must have worked closely with senior management teams on strategy development projects. You will need to feel comfortable communicating ideas to clients and getting their support.
A professional qualification exam, such as the Certified Management Consultant (CMC), of the Chartered Management Institute (CMI), is also required.
What is the difference?
An advisor is someone who provides information about a subject. A consultant offers solutions to problems.
A consultant works directly with clients to help them achieve their goals. The advisor provides indirect advice through books, magazines lectures, seminars, and the like.
Is it possible to be a consultant?
A consultant is someone who helps you achieve your goal by providing advice on how to do something better, faster, cheaper, etc.
A consultant can help you solve problems, make decision, or negotiate with people.
Many consultants are hired for specific projects and tasks.
In fact, most consultants are paid hourly or daily rates rather than per project.
What skills is required to consult?
Strong interpersonal and analytical skills are essential for consultants. This is important because you are working on projects where you may not know exactly what you are doing. This is a must because you need to learn how quickly you can manage people.
Also, you must have great communication skills. Clients expect a response within 24 hours. If they don't hear anything, it is likely that they aren't interested in you. It's important, therefore, to always keep them informed and ensure they understand what is going on.
What can I anticipate from my consultant
You should hear back from your chosen consultant within a few days. They will request information about your company including its mission and goals, products, services, budget, and other pertinent details. Then, they'll send over a proposal outlining the scope of work, estimated time frame, fees, deliverables, milestones, etc.
If all goes well, the parties will then negotiate a written agreement. The type and content of the contract will vary depending on whether the relationship is employer-employee/employer-independent contractor.
If everything goes smoothly, the consultant can begin work immediately. S/he will have access to your internal documents and resources, and you'll have access to his/her skills and knowledge.
But don't assume that anyone who is a consultant has all the answers. It takes practice and hard work to become an expert in the field you are consulting. Don't expect your consultant know everything about your company.
Statistics
- According to IBISWorld, revenues in the consulting industry will exceed $261 billion in 2020. (nerdwallet.com)
- My 10 years of experience and 6-step program have helped over 20 clients boost their sales by an average of 33% in 6 months. (consultingsuccess.com)
- "From there, I told them my rates were going up 25%, this is the new hourly rate, and every single one of them said 'done, fine.' (nerdwallet.com)
- According to statistics from the ONS, the UK has around 300,000 consultants, of which around 63,000 professionals work as management consultants. (consultancy.uk)
- So, if you help your clients increase their sales by 33%, then use a word like “revolution” instead of “increase.” (consultingsuccess.com)
External Links
How To
How can I find a good consultant for my business?
Knowing what you need from your consultant is the first step to finding a qualified consultant. Do you want them to help you improve your website's performance? Are you looking for them to help optimize your website to rank higher on search engines? Or perhaps you just want someone who can tell if there are any issues with your current hosting provider. When you are clear about the services you require, you can start to look at other companies. Many consultants claim to be able to provide these services. However, only a handful of them actually deliver on their promises. How do you select the right consultant for your project? Here are some things to consider when picking a consultant:
-
Ask for referrals. This is probably the best way to choose a consultant. It's not a good idea to hire someone you haven't heard of, as you will likely end up paying too much. You also don't want someone with a poor reputation to work for you. If you are lucky enough to be referred by people you trust, that's awesome! You can check online reviews even if they don't refer you. Find testimonials and case study examples from customers who have used your product.
-
Ask around. Many people are not aware of the benefits of hiring a consultant. Many people believe that they are doing well and don't need any changes. This is often false. Even if your results are great, there's a good chance that you haven’t kept up with the latest trends and technologies. Relying on outdated methods will prevent you from maximizing your potential for growth. It's worth asking your friends and family for recommendations to help you find the right consultant.
-
You should verify their qualifications. You need to verify their qualifications when you are searching for a consultant. You need to ensure that the person you hire is qualified to do the job and has sufficient knowledge in the subject.
-
Find out the type of projects they specialize. It is a common misconception that everyone can manage everything. Some areas require specific education or training. If you are looking for someone to create a WordPress theme, then you will not want to hire someone who isn't a specialist in Drupal. Graphic design and programming languages are all subject to the same rules. Ask them what types of projects they are most familiar with.
-
Find out what their charges are. As we stated, you don’t want to pay too little for a consultant. You also don’t want to spend too little. Consultants come from all walks of life. Some bill hourly, while others are charged per project. It's cheaper to know upfront what you are paying than later.
-
Find out what they offer. Do they offer free consultations? They will be able to offer you guidance on setting up your own system. Are they able to guarantee that your site will rank better after working with you? You have the right to cancel at any time if you aren't satisfied with what was said during your consultation.
-
You can also find out if they offer discounts on multiple months or over years. Many consultants offer discounted pricing for extended time periods. You may not need to commit to a full year, but you may also take advantage of whatever deals they offer.