The market for retirement financial advice hasn't been more critical and more in flux than it is today. The drastic long-term shift away from traditional, fully-benefited defined benefit pension plans towards defined contribution, or 401k accounts requires all of us today to be far more sophisticated than ever before. We need guides that can help us navigate this new landscape. The one area which is seeing the most growth and development is that of internet brokerage. Here are some of the general guidelines for evaluating an online brokerage:

When looking for retirement advice always get as many different perspectives on your needs as possible. Don't be limited to one or two advisors. Get as many quotes as you can and don't be afraid to shop around. It's always a good idea to compare apples to apples. That is, look at what a traditional, full-service retirement advisor would offer you and then use those same funds to evaluate the internet-based advisor.

Considering Their Retirement Savings Advice

Always consider the fees attached to any financial guidance services you might be considering. Not all fees are created equal. Just because an advisor is offering you a low commission rate doesn't mean that you are getting the best service. Look at what kind of service they are providing as well as the cost of the particular service. If you are already a client of a company, inquire about their fees specifically when considering their retirement savings advice. You may be surprised to learn that some financial advisors who are very experienced charge high commissions.

In considering any of the many options offered by Behavioral Finance, remember to seek out opinions and advice from professionals and not just those offering free advice on the internet. Some planners go by the slogan "the planner who thinks differently is a brilliant planner." This is a broad category which includes both those with a pessimistic attitude and those with a positive one. Be sure to ask a number of different professionals for their advice on the topic of behavioral finance and how to go about it in your own circumstances.

Choose Ones That Are Offered by Fiduciary Standards

When working with any financial products such as stocks, bonds or mutual funds, it is important to choose ones that are offered by fiduciary standards. Fiduciary standards, which were put into place by the US Securities and Exchange Commission, govern how retirement planners advise clients. These guidelines require that advisors not just make recommendations to buy and sell particular securities, but actually carry out their activities based on the investments the client selects. advisors also must avoid conflicts of interest and be timely in delivering their advice.

In terms of structured settlements, structured annuities and life insurance, there are two different types. The middle market involves financial products that are sold in the hope of obtaining a lump sum payment at retirement. On the other hand, structural guidance deals specifically with retirement income plans, and recommends those plans that benefit a middle-aged individual most. Both of these markets often come into play when considering the services of advisors.

Advisors Recommend Different Ways to Save Money in Retirement

Avoid financial advisors who make recommendations that are based on their own commission rather than their fee structure. Rather than receiving a percentage of the total payout, these advisors’ profit from the sale of the annuity. This advice should be avoided at all costs. The middle market is another different way advisors recommend different ways to save money in retirement.

In all, it is up to the consumer to do their homework and research before engaging the services of a specific advisor. Some of the best retirement planning advice is to do your homework and understand the different fees and charges that are charged. Look for unbiased websites that offer information not only regarding investment advisors, but also about the fees they provide. Be sure to check the credentials of any advisor you do select. Retirement planning is an important topic, and the advisor you choose should be one that you feel comfortable working with.