Published : Wednesday, 06 Feb 2013, 12:15 PM EST
GRAND RAPIDS, Mich. (WOOD) - Recently there has been a lot of talk in the news about hidden fees on 401 (k). Mutual fund fees in 401(k) plans might seem tiny at an average of 1% of your assets per year, but over a lifetime of saving, it can add up to $155,000.
It's important to properly manage your 401 (k) and if you lack the time, tools or confidence to manage your account, a professional can help. At Forest Hills Financial , there are advisors that can access your retirement goals and investment choices as well as develop a strategy for your retirement. They will also monitor your accounts, make sure you have an understanding of your risk and help make changes if necessary.
When it comes to your investments it's important to have the guidance and advice from a reputable source, that you can trust. There are some important questions that you should keep in mind when selecting a financial advisor. Forest Hills Financial expert, Jamie Westenbarger, recommends asking:
1. Are you licensed as a stockbroker, insurance agent or investment advisor?
2. What costs will I incur in addition to your compensation?
3. If something happens to you, what happens to me?
4. What kind of people do you usually work with?
5. Why should I choose you, and what makes you different?
There are a total of 21 questions that Jamie recommends you ask. You can get a list of all of them by contacting Forest Hills Financial at (616) 949-6006 or online at www.myfhf.com . You can also meet their team of financial professionals at an open house Thursday, February 7 at 5:30 p.m. Their offices are located at 3210 Eagle Run Dr. NE, Suite 104, Grand Rapids, Michigan 49525