With the rise of the internet, we’re fortunate to have nearly every answer at our fingertips. If you don’t know how to change a car battery or need help preparing a pot of chili, Google contains the answers for you. The temptation to save money by managing everything yourself is a strong one—but it isn’t always a good idea. Whether you’re living in the United States or experiencing life as an expatriate, you may be questioning the value of an investment advisor.

The advantage of managing your accounts yourself is the easy accessibility and control you maintain. If you’re considering going your own way, there are a couple ways to go about it. First, spend time learning everything you can about taxation and sound portfolio management. Remember, keeping your portfolio simple, especially if you’re new to self-management, will allow you to experience more success. Focus on diversifying your portfolio (as Jason Hartman suggests) and keeping yourself organized, and learn the intricacies of tax rules for out-of-country investments.

If you’re interested in hiring a professional to manage your investment accounts, no matter your location, look for a fee-only investment advisory. These individuals are paid only by their clients and do not work on commission. Their fees aren’t split amongst others in the company or brokerage and conflict of interest is therefore reduced. Also look for an investment advisor that is registered, as they’re legally required to put the needs of the client ahead of their own—something brokers are not required to do.

When you’re searching for a Registered Investment Advisor, avoid contacting or relying on investment advice from stockbrokers and insurance agents, who have a significant conflict of interest because they are selling products and work on commission and share fees with their institutions. While you may get some good advice, you’re likely to be swayed in favor or investment choices that will result in higher pay for these individuals.

Make the investment advisor choice that is right for you, and don’t be afraid to explore your options. You might try to self-manage and change your mind later. Conversely, you might find yourself with an investment advisor you’re just not happy with and attempt to DIY your investment portfolio. As long as you’re educated and informed, you’re working to build a healthy investment portfolio that will provide you with income for years to come. (http://www.flickr.com/photos/ooh_food/3511080642/)

* Read more from Jetsetter

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The Jetsetter Show Team

Tags: income property, investment advice, Jason Hartman, portfolio management, real estate investing, The Jetsetter Show