How do you know if you have the right advisor? And how do you know if it’s time to switch? Nathan talks through what to look for in an advisor and how to make a decision on the right one for you.
Click on the timestamps below to jump to specific topics.
What does a healthy client-advisor relationship look like? What should you be getting from an advisor and how do you know if you’ve picked the right one? Two big things to pay attention to: your gut reaction and how much do you trust them?
What kind of communication do you have with your advisor? Do they keep you updated and answer all of your questions? Do you have regular financial reviews? Are you being coached to stay within your goals and in your comfort level?
When is the right time to switch advisors?
You may work with an advisor for years, but are they the right kind of advisor for you and your stage of life? A need to switch is not always caused by an advisor doing a bad job, sometimes it’s just finding the right fit for you and your needs.
Talk to prospective advisors to find out if their style matches yours. Are they an active manager or a passive manager? Do they focus on working on the accumulation stage or the retirement age? Make sure you don’t have a conflict from the beginning by finding out their core philosophies.
Are you working with the right advisor?
Listen to the full episode or use the timestamps below to help you understand how to choose the right one.
0:29 – Nathan is excited to celebrate the 4th of July.
3:41 – What should you be getting from a financial advisor?
6:19 – When should you change advisors?
9:19 – How can you tell if a prospective advisor will work well for you?
12:02 – Be yourself when working with your advisor.
A Point Of Wisdom:
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