Today's Hack

How do you pick the right advisor? Often we get caught up in finding the right investments and making sure the portfolio is balanced. But what about finding the right person to help you facilitate that plan?

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Show Notes For This Episode

Today’s Hack:

How do you pick the right advisor? Often we get caught up in finding the right investments and making sure the portfolio is balanced. But what about finding the right person to help you facilitate that plan?

Click the timestamps below to jump ahead in the episode…

Video Version:

Other Retirement Facts:

How do you pick the right advisor? Often we get caught up in finding the right investments and making sure the portfolio is balanced. But what about finding the right person to help you facilitate that plan?

Start by understanding what your expectations are from your advisor. Do your strategies align? Do you work well together? Talk it through in initial meetings to determine if an advisor will be a good fit.

Are they properly licensed for your needs? Are they a fiduciary or simply a broker? Have you used any online resources to check into them? Or what are their online reviews?

How do you know if now’s the time to change advisors? Consider what stage of financial planning you’re in. What kind of approach fits better for your life stage? Sometimes even if they are trying to do a good job, you still might be ready to find a better advisor for you. Are you both communicating well together? What could go wrong if you just stick with the advisor you know isn’t a good fit?

What will you talk about in that first meeting with a potential advisor? Be sure to be honest with yourself, with your spouse, and with your advisor. Remember, there’s nothing wrong with getting a second opinion! It’s important to find the right advisor for you.

Is it time for you to seek out the right advisor?

Listen to the entire episode or click on the timestamps below to skip ahead to a particular section.

1:25 – How do you pick the right advisor?

2:30 – What’s your expectation for the advisor?

3:47 – What kind of credentials should the advisor have?

5:37 – How do you know if it’s time to find a new advisor?

10:58 – What could go wrong if we stay with the wrong advisor?

12:14 – How do you feel about it?

13:42 – What should you consider in the interview process?

18:47 – What are Phil’s Thanksgiving favorites?

Thanks for listening! We’ll be back with another episode next week.

A Quotable Moment:

All financial tools have pros and cons–some fit, some don’t. We’ll talk about whatever fits in your plan: what I recommend and options. If you don’t like one of them, that’s fine, there’s another tool that will probably fit.

-Phil Putney

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