An expert can help to steer your trading strategy in the success` direction.  Lets see who you may need as there are several types of advisors and coaches.

What Does a Financial Advisor Do?

A financial advisor helps to manage spending, savings and investments.
That professional will work with you to create your strategy or give it a polish.
The title of financial advisor is a category of professionals that include:
– financial planners
– investment advisors
– several others in that general area of expertise.

What experts recommend

Most of the experts recommend finding one using fee-only compensation.
It may appear as though they are more expensive than some of the alternatives, but there is a reason that this can be a far more affordable and practical choice.
Fee-only financial advisors are, as the name suggests, only compensated by what you pay them.  Therefore, they do not receive any other types of commissions or bonuses for having recommended specific products or investment funds to their customers.

The Most Common Fees Charged by Financial Advisors

There are three primary financial advisor fee structures.

• Hourly rates;
• Fixed rates;
• Asset under management fees.

Financial advisors using any of these payment structures may be fee-only or may receive a combination of fees and commissions. If it is not clear how a professional you are considering is compensated for his or her work, do not hesitate to ask.
In Alvexo we provide assistance for free for all our clients. Ask for more details from our representative applying here

How Much Will You Pay for a Financial Advisor’s Services?

Financial advisors can be quite expensive to hire. The average amount people pay for a few sessions to create a formal investment strategy or financial plan will be somewhere in the range of £80 to £250 per hour for several hours.
As you can see, this advice comes at a premium, so it’s very important to choose the right professional and know that you do indeed need the assistance of a financial advisor and not a trading coach, which is generally much more affordable.
If you will require assistance beyond the creation of a plan and will need regular guidance from your financial advisor, then you will likely be charged a fixed fee instead of an hourly rate.  That will gain you far more regular access to this expert’s assistance but will usually cost £800 to £2,000.
If you are hiring a financial advisor to manage your investments on your behalf, an asset under management (A.U.M.) fee will be applied. This will typically be the equivalent to between 1 percent and 2 percent of your total managed portfolio.
 

What Does a Trading Coach Do?

Trading coaches are experts in investing and trade.  They apply their own training, knowledge, experience and individual skill to teach, mentor and guide you regarding successful investment strategy creation.
Warren Buffett may not be who he is today if it wasn’t for the guidance he received from his own trading coach and mentor, Benjamin Graham.
We would even say that every really successful person in any area had a mentor or a coach.
A trading coach will provide you with guidance on a one-on-one basis.
The one-on-one coaching makes it possible to enjoy faster learning catering specifically to what you already know and what you need to learn to promote better successes.

Hard truth

It can be hard because a very good coach will tell you the truth about your progress. He won’t hesitate to respectfully tell you both what you want to hear and what you may not want to hear.  This will help you to know that you’re learning what you need to know to reach your goals and aren’t just being fed with what you want to hear.
As many traders are hesitant to pay a lot of money for training and strategy development, it’s important to understand the value of a trading coach.
It’s natural to feel that you want to keep as much money as possible handy in order to be able to invest it.  However, your investments can take you much farther and faster when you’re trading with skill and understanding.  Traders that take the opportunity early on to learn what they need to know will often sidestep common rookie mistakes that can be very expensive.
These features are often offered at a considerably lower rate than financial advisors.  Therefore, many new traders find that they can obtain the advice they need at a price they can afford.
In Alvexo we provide assistance for free for all our clients. Ask for more details from our representative applying here