Christopher Letendre

Christopher Letendre has been the President and Owner of Cape Retirement Wealth Advisors in Sandwich, Massachusetts and The Villages, Florida for more than nine years. These two locations are located in the United States. In their practice, Brookstone Wealth Advisors, LLC and Mr. Letendre's primary focus is on assisting clients in the development of a sensible retirement strategy that will help them feel less stressed about their finances during retirement. This is accomplished primarily through the generation of a retirement income that the client cannot outlive. Mr. Letendre is licensed to practice in the states of Massachusetts, Texas, and Florida thanks to his successful completion of the Series 66 Uniform Combined State Securities Law Exam. Mr. Letendre is also a registered insurance professional who works independently, and he provides life insurance as well as fixed and fixed indexed annuities to clients. Mr. Letendre spent nine years working as a registered representative with Fidelity Investments before transitioning into his current role as an investment advisor. Mr. Letendre attended Southern New Hampshire University and earned a Bachelor of Science (BS) degree in Business, Management, Marketing, and Related Support Services. He is currently working in the business world.

The fees charged by RIAs and broker-dealers distinguish them significantly. RIAs are fiduciaries who act in their client's best interests. This implies they can only recommend things that align with their preferences. In contrast, broker-dealers do not have fiduciary obligations but must meet a suitability threshold. Therefore, before making a final decision, it is crucial to understand the price structure and track record of any potential advisor.

Typically, a human advisor will guide a variety of financial goods and services. Contrary to a computerized financial planner, a human advisor can create a connection with you over time and anticipate your changing requirements and preferences. While a robot adviser can provide recommendations for your financial needs, you should still seek guidance from a transparent financial planner who can answer your inquiries.

Fee-based financial advisors charge customers a percentage of their assets annually and are frequently compensated through commissions on investment trades and other financial products. Consequently, people who adopt a commission-based structure typically earn more than those who charge fees solely. However, this arrangement is not suitable for many clients. Instead, you should seek out an SEC-registered advisor. Visit BrokerCheck for price and disciplinary history information.

A broker is another typical form of a financial advisor. These advisors specialize in the sale of investments and insurance policies. To become registered brokers or financial advisors, brokers must pass a series of examinations. Exams typically last two to six hours and require a score of 70 to pass. Once licensed, financial advisors are legally permitted to sell insurance. The financial advisor cannot sell securities if they do not pass these examinations.

Financial consultants are compensated differently. A financial planner, for instance, may work directly with the client, whereas an insurance agent may earn commissions from insurance firms. In addition to selling investments, they are compensated by the companies they promote. This means that their fee is included in the premium cost. Additionally, you must check that your advisor is registered with your country's securities regulators. The Ontario Securities Commission and the Canadian Securities Administrators are these regulators.

The type of financial advisor you should select depends heavily on your situation. If your financial position is complex and you want someone who knows the subtleties of money management, you may require a financial planner. Additionally, you may need a financial planner if you have just earned money or received an inheritance. A financial planner will advise you on the most profitable investments. The correct financial advisor will help you achieve your objectives.

A financial planner assists clients in developing a good and steady economic strategy. Investments, retirement planning, and tax preparation may be included in this strategy. In addition to guiding customers through these selections, the advisor will also monitor their accounts. Additionally, the advisor will ensure that the client is not paying unnecessary taxes. Moreover, financial planners can assist customers in keeping track of their investments as their lives evolve. In addition, they will guide how much to save and invest and which sorts to select.

The CFP Board of Standards must license certified financial planners. A financial planner must also pass FINRA examinations to become a Certified Financial Planning (CFP) Association, member. They are eligible to work with any of the financial advisory businesses. Typically, they are compensated by commission and labor for a charge. Typically, licensed financial advisors work full-time and may travel to meet potential customers and grow their professional network. Education and on-the-job training are the first steps in the financial advisor career. To become a financial planner, a bachelor's degree is required. Most financial advisors have a background in economics, accounting, or a similar subject. Some pursue master's degrees and/or other studies.

The three categories of financial advisors have distinct approaches and areas of competence. Robo advisers are typically less expensive and provide access to automated investing solutions around the clock. The goal of Robo-advisors is to remove the emotional roller coaster of investing. However, Robo-advisors are not ideal for all situations; finding a financial advisor who comprehends your condition and objectives is vital. Additionally, they may know to assist you in making an informed financial decision.

When you look at how much an investment advisory service costs, you might wonder, "Are investment advisory fees worth it?" Even though many advisors trade individual stocks and bonds, the total cost of this service is often less than what the average investor pays. Christopher Letendre pointed out that, most advisors have extensive portfolios, so the transaction costs aren't as high. Also, advisors usually give their clients a discount on the AUM fee to cover some of these costs.

Finding out how much the service costs is the first step in negotiating a fee with an investment advisor. It's not crazy to pay 1 percent or even less, depending on the service. But you need to know the average fee structure for your field and have a firm job offer from somewhere else. If your financial advisor thinks you're leaving, he or she may be more willing to work with you. But you shouldn't start a conversation with them if you don't know how much you owe in investment advisory fees.

The fee structure can be expensive or cheap, depending on what you have. An hourly rate might be more affordable in the short term but too costly in the long run. You can also pay an annual retainer, similar to a flat fee based on assets under management (AUM). You can also access more services if you spend a yearly retainer. If you don't want to pay more than $20,000 for an investment advisor's services, you might want to look for one with lower fees.

You can also think about whether or not you need investment advice in addition to financial planning. Most of the time, the fees are set at 1% per year, but some brokerage firms also use mutual funds with high prices. This means the total costs could be 2 percent or more. In addition, smaller accounts usually have higher fees, so you might want to consider whether you need these services before hiring a financial advisor.

Christopher Letendre emphasized that you can also look online to determine how much a financial advisor costs. Most of the time, they are listed on the website under "fees" or "info." Some money managers even list their fees on their websites. For example, a limited scope engagement that focuses on your cash flow, ability to save, and investment portfolio will cost you between $1800 and $3000 in fees. If you want to go deeper, you might have to pay up to $4200 or $6000.

Most of the time, fee-only financial advisors have the least amount of conflicts of interest. They don't get extra money from trades, so they charge a flat fee or an hourly rate. The best advisors follow fiduciary standards and put their clients' interests ahead of their own. Fee-only advisors usually charge about 1% of their clients' money. Most of the time, these advisors follow strict fiduciary rules that keep their clients safe.

Another way to save money is to use a robot-advisor service. They keep an eye on how the market changes and make changes to portfolios as needed. Some Robo-advisors even have financial experts who help people make plans for investments. Robo-advisors don't charge trading fees, but they charge for their advisory services. But generally, these fees are less than what traditional financial advisors charge. You can also choose a service that combines a robot advisor with a human investment advisor.

When looking for a financial advisor, it's essential to know what they've done in the past. First, find out if they are licensed to work as a financial advisor and look at their licenses and credentials. You should also look into their past to see if there have been any recent complaints or actions by regulators. This research may take time, but it could help you get better advice, save money, and reach your financial goals. Even though there's no surefire way to know if an advisor is right for you, choosing a fiduciary will ensure that your goals are met.

Christopher Letendre noted that you can pay fees or hire a human advisor to help you manage your portfolio. These advisors will help you make changes to your portfolio as your life changes. They will also give you advice about which investments to make. But before you hire an investment advisory service, you should think about these things. If you can afford to hire a human advisor to help you manage your money, it's worth it. Most people need financial advice at some point in their lives, and the cost is worth it if the services are worth it.