Tom Brough of Chicago is a financial advisor with twenty years of experience. He attended DePaul University and received a degree in finance in 1993, and has been working as a broker or financial advisor ever since. In 2009 he formed Brough Investment Advisors, a Chicago area investment firm that is committed to bringing each of its clients a fair return on their investments.
A financial advisor is, as the term suggests, someone who provides financial advice to a client. But Tom Brough of Chicago says it is really a general term and there are many different kinds of financial experts who can be considered financial advisors. Stock brokers and insurance agents, he says, would fall into this broad category, and so would financial planners and even estate planners or bankers.
Tom Brough of Chicago says that managing money can be a tricky matter, and he thinks it is a good idea to have the help of a trained professional. There is an attorney who represents himself has a fool for a client, and it is much the same thing when it comes to managing your own money, especially if there are large sums involved.
A skilled financial advisor, says Tom Brough of Chicago, can help you pick good stocks, bonds, and other investments. They are legally obligated, he says, to act in your best interest, which is important to know. He says that financial advisors are usually compensated by a flat fee, or else from receiving a percentage of the assets that are under management. In the latter, a one percent rate is common.