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Updated about 6 years ago on . Most recent reply

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Moses Castillo
  • Rental Property Investor
  • Tampa, FL
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Need a financial advisor?

Moses Castillo
  • Rental Property Investor
  • Tampa, FL
Posted

I am looking to start investing in real estate but I have not met with a financial advisor. Are financial advisors compensated by directing my money into IRA and other stock Investments? I want to make a plan but I'm curious if a financial advisor will truly help me accomplish my goals in real estate or towards something they are more heavily compensated on. Any financial advisors in here that can straighten that out for me or anyone that has experience with financial advisors in real estate?

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Joseph Celes
  • Financial Advisor
  • California
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Joseph Celes
  • Financial Advisor
  • California
Replied

Hi Moses,

As a 12 year Financial Advisor in CA, I can tell you the majority will direct you to products they can get compensated on. REITs, IRAs, Stocks, Mortgages etc. The governing bodies that regulate Financial Advisors; FINRA and the SEC do not allow compensation on too many Real Estate specific transactions.

The exception will be an advisor that is working for you on a Fee basis. You pay an upfront fee, and they perform a full analysis on your Financial Statements and give you some recommendations. Again these recommendations will most likely be directed towards products they can be compensated on, but the advice behind the recommendations may be sound based on your current financial profile.

For my clients, I do their Real Estate Investment analysis for free. But that is only because we have an existing relationship and trust. 

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