Frank LaRosa on How to Choose a Financial Advisor

Choosing a financial advisor should be a carefully considered decision. You are trusting someone with the task of helping you achieve your financial goals. Research several advisors before you choose one. Some factors you should consider include the following:

-Is the financial advisor a certified financial planner? Some certification processes require financial advisors to attend continuing education classes and hold them accountable to a code of ethics.

-How does the financial advisor get paid? Is he or she commission-based, fee-based, or working at an hourly rate? Commission-based financial advisors are paid by selling you products and so may have motives other than your best interest for pushing a certain product. Meanwhile, fee-based advisors, who typically earn 1 percent of your annual assets, may be disinclined to making certain suggestions that will decrease your annual assets and subsequently their fee.

-Is the financial advisor a fiduciary? This means that the advisor has pledged to act in the client’s best interest.

-Lastly, be sure the credentials are up-to-date, and get references from current clients to get a sense of the work that the advisor does.

Frank LaRosa began his career as a financial advisor at Prudential Securities, where he was named the top new advisor for his achievements in that position. He currently works as the Chief Executive Officer and President of Elite Recruiting & Consulting, a company dedicated to placement and consultation of financial advisors.

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Frank Larosa

Frank LaRosa leverages more than a decade of experience in the financial sector toward his role as President and CEO of ELITE Recruitment & Consulting. In this position, he focuses on getting to know financial advisors and other investment professionals before recommending that they change firms. The competition is fierce for successful financial advisors, who often bring their clients with them when they change firms. Applying his expertise, LaRosa helps clients through the process. Under LaRosa’s leadership, ELITE Recruitment & Consulting specializes in working with financial professionals to help them move from one company to another. At ELITE Recruitment & Consulting, Frank LaRosa draws on his extensive experience in the investment industry. Frank LaRosa possesses the knowledge and experience necessary to help clients make a smooth the transition. He has worked continuously in the financial industry since graduating from New Jersey’s Kean College in 1996 with a Bachelor’s degree in Marketing. He has stood out in every position he has held. In his first role as a financial advisor with Prudential Securities, he made a name for himself as the firm’s number-one trainee of the year. By late 1998, he had generated over $320,000 in annual revenue. Under his management, client assets amounted to over $18 million. Subsequently, Frank LaRosa worked as a financial advisor for Smith Barney in Red Bank, New Jersey, where he became Assistant Branch Manager. He then received a promotion to Branch Manager of Smith Barney in Alexandria, Virginia. Following this role, he served as Senior Vice President of Smith Barney in Mount Laurel, New Jersey. After Morgan Stanley acquired a majority stake in Smith Barney in 2009, Frank LaRosa became Senior Vice President of the Southern New Jersey Complex, the second-largest in the region with over 115 financial advisors. His achievements included raising the average revenue per financial advisor to $650,000. He was also the region’s top recruiter. Moreover, the highly respected magazine On Wall Street named LaRosa to its fifth annual list of the Top 10 Managers for 2010. In his free time, Frank LaRosa is an avid amateur boxer. He also enjoys golfing and fishing with his boys, as well playing with his two bulldogs. Residing Moorestown, New Jersey, he is married with two sons.

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