Should I hire a financial advisor or a broker to begin investing?

I am 19 years old and for a while now, I've been very interested in investing. I've been doing research on how to invest, but I just can't get the information that I'm looking for. I watch a lot of videos and read, but they all provide motivation techniques instead of just cutting right to the chase. I was talking to one person and he told me to go to a financial advisor rather than a stock broker. What should I do in order to take my first step into investing and who should I invest it through? Should I hire a stock broker, a financial advisor, or should I just flat out buy a share single handed?

Investing, Choosing an Advisor, Starting Out
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February 2017

Great question! At your stage, I would highly consider starting with a robo-advisor. You can go to a platform like Betterment and get your start there. It is very inexpensive, they have great learning material, and make it very easy to get started.

If you're looking for financial planning along with help in investing, then reach out to a financial advisor who specializes in millennials. You can find one near you by going to xyplanningnetwork.com.  All the advisors on that site specialize in younger clients, charge reasonable fees, and are considered fiduciaries.

As you get older and your accounts start to grow, I would then really consider working with an actual advisor who can do both investment management and financial planning, but for now I'd stick with a robo-advisor.

February 2017
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February 2017