Handing over your investments and finances to someone else is a big deal – it takes a lot of trust, so picking out the right financial advisor for you and your needs is important. Luckily, with a little insight from the National Association of Personal Financial Advisors (NAPFA), we outlined the process step-by-step.
1. Set a Goal: Talk to family members about what you want to accomplish by working with a financial advisor, whether it’s general investment advice, guidance in paying for college or a house, or planning for retirement.
2. Research: A great place to start is asking for recommendations from friends, family, and colleagues so you have some candidates to choose from. Make sure you do some digging on potential advisors’ websites and bios.
3. Meet: Typically, a face-to-face meeting with each candidate before sign-up is the way to go, but if you don’t feel comfortable with or cannot arrange in-person interviews, make sure you set up a video call. Come armed with questions like those below, and use NAPFA’s Financial Advisor Diagnostic tool online to evaluate their answers.
Keep Tabs: Finally, once you choose your advisor, be sure to evaluate their performance on an ongoing basis.
Right now more than ever we’re about shopping local – and that doesn’t stop at retailers and restaurants. Check out the by-numbers breakdown of the Ocean State’s top stocks (and consider investing). *Prices and data are as of November 30, 2020
Citizens Financial Group (CFG)
Headquarters: Providence
Employees: ~18,100
Share Price: $32.66
Market Value: $14.58B
Price-earnings Ratio: 14.79
52-week Range: 14.12-41.29
CVS Health Corp. (CVS)
Headquarters: Woonsocket
Employees: ~295,000
Share Price: $67.79
Market Value: $88.84B
Price-earnings Ratio: 11.19
52-week Range: 52.05-76.44
Hasbro, Inc. (HAS)
Headquarters: Pawtucket
Employees: ~6,000
Share Price: $93.03
Market Value: $12.65B
Price-earnings Ratio: 32.53
52-week Range: 41.33-109.50
Textron Inc. (TXT)
Headquarters: Providence
Employees: ~35,000
Share Price: $45.10
Market Value: $10.73B
Price-earnings Ratio: 38.13
52-week Range: 20.26-51.53
United Natural Foods Inc. (UNFI)
Headquarters: Providence
Employees: ~19,000
Share Price: $17.25
Market Value: $1.01B
Price-earnings Ratio: N/A
52-week Range: 5.00-23.38
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