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Funds 509: Refining Your Portfolio

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1.
What kind of organizations would you consult to find out whether a prospective financial advisor has ever been subjected to disciplinary action?
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Regulatory organizations. Regulatory organizations--whether professional or governmental--can tell you whether your candidate has ever been disciplined.
2.
To determine how profitable a company is, examine its _______.
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Return on assets. Return on assets, or ROA, is a key measure of how well a company uses investors' money.
3.
What should we do when we go through a new life stage?
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Re-evaluate our financial plans. Our financial plans may or may not need to change. But one thing we must do is re-evaluate those plans--otherwise, we won't know whether they need to change at all.
4.
If you want to work with a financial advisor, what's the first thing you should do?
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Decide what you're looking for--a comprehensive plan or help with a specific issue. The first step is deciding what you want. Are you looking for someone to handle part of your financial life or are you seeking a financial advisor who can take care of it all? Talk to advisors and gather references after you know what you need.
5.
After a major life event, you should _______.
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Re-evaluate your investment goals and risk tolerance. Not every life event has to trigger changes for every investor's portfolio. But we should all re-evaluate our financial plans as we pass through a life stage.