Even so, you still need to know what you are aiming for. The registered investment advisor can then target your investments towards your goals.
Below is a quick summary of investment goals you may have to take into account.
Focusing On Growth
Are you looking to invest in companies where their share price is expected to rise over time? These are called growth stocks. They may not even been producing a profit yet. But their share price may consistently increase due to optimistic expectations of their future earnings. All successful companies started small at the beginning.
A Regular Income
Shares of profitable corporations pay regular dividends to the share owner. They are usually yearly or even half yearly dividend payments. Would you take those dividends and use them as an additional income?
Re-Investing Dividends
Another option with dividends is to re-invest them back into shares. You accumulate your dividends to buy more shares. Over the years this approach can add considerable growth to your portfolio.
Does Size Matter
Would you restrict your investments to only those corporations listed in the S&P 500, the 500 biggest companies in the USA. Or would you want to spread some money over smaller companies listed for example on the NASDAQ.
Industry Sectors
Do you have a soft spot for a particular industry? Or perhaps because you want to keep your investments in something you understand and are comfortable with. There are many industry sectors including retail, finance, oil & gas, insurance, pharmaceuticals, technology and others.
Investment Time Period
Investors talk about their "investment horizon". In other words how many years out are you considering. 10 years, 20 years, 50 years? The time period can affect the types of shares and securities you would be investing in.
How Would You Pay Your Registered Investment Advisor
How are you going to pay your advisor? Are you happy with a flat fee or would you want to only pay a commission based upon their performance?
Your Attitude Towards Risk
Are you "risk adverse"? Does watching the stock markets go up and down make you nervous? Do you fear every news item of an imminent stock market collapse. Or you do just brush it off as media hysteria? Are you optimistic about the future or pessimistic? These emotions are what fuel all stock markets around the world. You may want an investment advisor who offers regular updates and assurances.
Spreading Risk
Are you happy with your advisor picking shares in individual corporations? Or would you feel more at ease with your investment spread across many hundreds, even thousands, of stocks. Is your aim to follow the general market or just back a list of favorite stocks?
International Exposure
The US stock market is the largest int he world but there are plenty of investing opportunities beyond the USA. London, Paris and Frankfurt all have established stock markets providing access to European companies. And there plenty of investment opportunities in the Far East in such countries as Japan, Australia, China, Singapore and many others. In fact there are few places in the world where you won't find a traded market in shares. How exotic would you want to get?
Guaranteed Returns
Guaranteed investment returns are usually associated with government securities. These are Treasury bonds that pay a fixed interest rate per year. You are essentially buying the debt of your country. Every country issues their own version of a Treasury bond. In London, the UK government sell debt called Gilts. Even municipal districts sell interest bearing bonds. Another type of debt bond paying interest is a corporate bond. This is generally riskier than treasury debt but can yield higher interest payments.
Are You An Ethical Investor
Do you have ethical principles that you are not willing to compromise on? Are you an advocate of global warming? Do you feel investing in renewable energy is the future and want to avoid investments in oil & gas. Or do you consider these scare stories to be a conspiracy and have no qualms about hunting for growth wherever you might find it.
Registered
Obviously you want evidence that your advisor is registered with the SEC.
These are the type of aims you will have to discuss with your registered investment advisor.