It doesn’t matter if you are going to hire an investment advisor or not. You will need to know about the market and the options you have. This way you will understand things better and perhaps your relationship with your adviser will generate better results.
Most people make the mistake of entrusting their money to a financial adviser thinking that this person will just step in and work wonders with their finances. This is not the case. If you don’t know what is going on in the investment market chances are you wont be able to translate the information about your goals to the adviser. Knowing and being informed is the key here so that you get the most out of your investments.
The more you know the better. In addition to having a good understanding of the investment market, being able to read graphs and pie charts will enhance your efforts in selecting the right investments. It doesn’t take much practice to figure things out but you should do it because it is your money that is on the line.
I am not saying, go take an investments course just get familiarized with investment concepts. Some basic training should be enough. Down the line and when you get some experience with the markets you will be able to make investment choices on your own. The thing is that in the beginning even if you think you understand what’s going on you will make mistakes. Even seasoned investment and financial advisers make mistakes don’t be disillusioned by thinking that you wont.
After you have saved some money and you have familiarized yourself with the world of investing then it will be time to select your investment adviser. I personally work and live in downtown Toronto so I selected an investment adviser Toronto. You should select someone in your area as well so that it is easy for you to meet with them.