Cash is the lifeblood of every organization, but for a nonprofit, this vital resource goes beyond the bottom-line. A lack of cash can interfere with an organization’s ability to achieve a social mission or deliver services to those in need. The weight of this responsibility falls to nonprofit leaders and boards and is challenging for many.
There is one term that you absolutely need to know when working with a financial advisor—“fiduciary.” It’s one of the most important words out there within the context of financial advice and right at the top with other “sacred” investment tenets like diversification, the law of compounding and investing for the long-term. Unfortunately, many investors don’t understand it well enough, putting their financial well-being at risk. That shouldn’t be you. Here’s what you need to know about what it means to be a fiduciary.
Choosing a financial advisor to help you achieve your financial goals is a big decision. Selecting the right person for the job will impact the experience and success of your journey and will depend on your personal preferences, situation and the financial destination you have in mind. There are also unique things that women investors need to be mindful of while searching for an advisor. Here are five tips to help jump-start the search process.