financial consulting

Castle Investment Advisors - Indianapolis Financial Advisors

By Andrea Ell 6 April, 2023 3 mins read

If you're looking for an Indianapolis financial advisor, you've come to the right place. Castle Investment Advisors, which is registered with the SEC, focuses on managing personal assets, charitable trusts and retirement funds. Private family foundations are also included. They also have a separate division, the Castle Valuation Group. This group prepares business valuations for public and private companies. Whether you're planning for retirement or looking to sell your business, Castle Investment Advisors is here to help you navigate the changes.

Fiduciary financial advisors put clients' interests before their own

A fiduciary financial advisor is a financial advisor who puts the best interests of their clients first. Fiduciaries follow strict legal guidelines. The companies they recommend do not pay them any compensation. This means their advice will be impartial and without conflicts of interest.

Your fiduciary financial advisor will make sure that you have the best possible investments. Their primary goal is to serve your best interests and will not make any recommendations without your approval. A fiduciary advisor is able to help you choose the best investments and rebalance your portfolio. They can also provide peace of head.

Senior financial advisors

A senior financial advisor can help seniors with their money and prevent them from falling victim to fraud. It is crucial to choose the right advisor for your loved one in order to meet their financial goals and needs. Seniors who want to increase their retirement savings have different goals than those who are more concerned about managing their existing nest eggs.

Many Indianapolis-based companies offer senior financial advisory services. CFG Wealth Management Services is an example. This Indianapolis firm offers retirement planning, investment management, and educational services to its clients. The company's professionals have more than 30 years experience in asset management and retirement planning. Each of its advisors is a certified financial planner.

Advisors that charge a fee

An Indianapolis-based fee-only financial adviser can be a great option for your financial planning. These advisors offer services including investment management, tax planning, retirement income planning, and more. These independent fiduciaries earn their compensation directly from clients. This eliminates potential conflicts of interests that could arise from commission-based arrangements.

Fee-only Indianapolis financial advisors are charged based on the fiduciary. These advisors typically charge a one time fee between $1,000 and $2,000, or an hourly rate between $200-500. In addition, you may need to set up a monthly retainer fee of $100-$1000 for ongoing asset management. Some advisors charge a commission on certain products, or a percentage from the portfolio's overall value.

Financial advisors are expensive

It is up to you to decide what kind of financial advisor you want. The costs of Indianapolis financial planning can vary greatly. When choosing an adviser, there are a few important things you need to remember. First, make sure you ask if the adviser is charged a fee. This will ensure you are getting advice that is consistent with your best interests. Additionally, a fee-only financial advisor is less likely to push unnecessary products on you.

Next, you should consider whether the advisor is a fiduciary, which means that they are legally bound to put their clients' best interests first. A fiduciary does not receive compensation from the companies they recommend.

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FAQ

How do I start a LLC consulting business?

It is important to first decide what you want as a service provider. Then you need to make sure you are qualified for those services. It may be a good idea to seek out someone who offers the services you need and observe their work.

Once you have an idea of the content you want, you can then determine where your target audience is. If there aren't enough of them, you may need to create them.

Next, you will need to decide if you want to start your own business or hire others.

The state may also permit you to open your own consulting company. However, it requires some paperwork and fees.

What is the difference of a consultant versus an advisor?

An advisor is someone who provides information about a subject. A consultant offers solutions to problems.

To help clients achieve their goals, a consultant works directly with them. An advisor advises clients indirectly through books, magazines, lectures, seminars, etc.

How is consulting different from freelancing

Freelancers can be self-employed people who provide their services to clients, without the involvement of employees. Hourly rates are usually charged based on the time they spend working on a client’s project. Consultants usually work for agencies or companies that employ them. Consultants are typically paid either monthly or annually.

Because they set their own hours and prices, freelancers are often more flexible than consultants. However, consultants often have better benefits, such as health insurance, vacation days, sick leave, retirement plans, etc.

What kind of contracts can consultants sign?

When consultants are hired, they sign standard employment agreements. These agreements define the terms of the agreement, including how long the consultant is expected to work for the client as well as what he/she should be paid.

Contracts will also outline the areas of expertise and compensation for the consultant. For example, the agreement may say that the consultant will provide training sessions, workshops, webinars, seminars, etc.

Sometimes, the consultant simply agrees that a specific task will be completed within a set time frame.

Consultants often sign independent contractor contracts in addition to their standard employment agreements. These agreements allow the consultant freedom to work without being paid.

Who hires consultants

Many organizations have consultants who help them with projects. These include small businesses, large corporations, government agencies, non-profits, education institutions, and universities.

These consultants may work directly for the organization, or freelance. In both cases, the process for hiring depends on how complex and large the project is.

You will likely go through multiple rounds of interviews when hiring consultants before you choose the candidate you feel is the best fit for the job.

Statistics

"From there, I told them my rates were going up 25%, this is the new hourly rate, and every single one of them said 'done, fine.' (nerdwallet.com)
67% of consultants start their consulting businesses after quitting their jobs, while 33% start while they're still at their jobs. (consultingsuccess.com)
On average, your program increases the sales team's performance by 33%. (consultingsuccess.com)
So, if you help your clients increase their sales by 33%, then use a word like “revolution” instead of “increase.” (consultingsuccess.com)
Over 62% of consultants were dissatisfied with their former jobs before starting their consulting business. (consultingsuccess.com)