Fraudulent cash advance lenders are well reported upon. Borrowers are forewarned against lenders who rush the process, do not fully answer questions or avoid them all together. Applying for a cash advance without knowing or understanding the full cost is irresponsible transaction by both parties. If a lender is not willing to be up front with costs for the cash advance online, then you do not need to be doing business with them.
Cash advances online are access to fast money.
We hear less in the news about the financial adviser who may not be using best practices when overseeing someone else’s future funds. They are not providing access to fast money, but will be offering direction on how to plan for future finances. Just as there are ways to tell if a direct cash advance lender has your best interest, there are tips to follow to look for advisers who may be trying to take advantage of your trust.
- A financial adviser should not rush you into any type of investment deadline. Your adviser is not a salesperson, but someone to help guide you along during the process of planning your future money.
- Do you know how your adviser is going to be paid? Along with any other investment, there will be a fee or commission. You should be clear on what type of payment will be made to this person and how it is calculated.
- If your adviser wants you to put all or most of your money into a single investment. Any chunk of money invested should be diversified.
- If you request to bring someone with you to the meeting, a financial adviser should not deny the request. Be leery of a person who will only talk to you alone.
- A good adviser will want to know what your money needs are. What does your income and debt look like now, what would you like it to look like, what are you looking for in the future?
- Any adviser who avoids answering your questions or cannot answer them thoroughly should flag you to think twice about using this person.
- Advisers should supply an investor with legitimate monthly statements. The information you receive should tell you your account status which will reflect transfers, and current balances. This statement should come from the brokerage firm your adviser works for, not his/her personal office.
- Quarterly and annual reports should come from the same company which will give you additional updates on gains and losses, fees and commissions applied, and details as to where your money is applied.
- Any payment should be paid to the company directly. A trustworthy adviser would never ask for the payment to be made out them personally.
- If there are significant changes to the investment, you should be alerted to them right away instead of reading about it in the newspaper. Communication is a key component with any type of money transaction.
Whether you are investing, planning for your retirement or children’s future college funds or obtaining any type of loan, you will want to do business with a company or person you can trust. Educate yourself ahead of time so you know what to look for in your meeting. It is not just the low cost cash advance loan industry which contains people performing fraudulent practices.
