Five Red Flags You Picked The Wrong Financial Advisor

with No Comments

Red Flags

Libby Kane has an interesting article entitled “Five Signs You Picked The Wrong Financial Advisor” which fits well with our “Ten Questions to Ask a Financial Advisor.” Here are her five warning signs:

1. She Isn’t Certified. In other words, you should value comprehensive wealth management.

2. He Offers to Manage Your Money for “Free.” In other words, you deserve a fiduciary standard of care.

3. She Says She Outperforms the Market. In other words, walk away from “too good to be true.”

4. She Doesn’t Ask About Your Financial Goals. In other words, build your financial dream home with a good blue print.

5. His Management Style Makes You Uncomfortable. In other words, you should understand your investment strategy.

Kane ends her article with this sage advice:

Again, one guiding word to keep an eye out for is “fiduciary.” This means that the planner will always work in your best interest—even above his own—which is the bottom line when it comes to getting help with your bottom line.

Interested in finding a fee-only commission-free (hourly rate) financial advisor?

Subscribe to Marotta On Money and receive free access to the presentation: Ten Questions to Ask a Financial Advisor.

Follow David John Marotta:

President, CFP®, AIF®, AAMS®

David John Marotta is the Founder and President of Marotta Wealth Management. He played for the State Department chess team at age 11, graduated from Stanford, taught Computer and Information Science, and still loves math and strategy games. In addition to his financial writing, David is a co-author of The Haunting of Bob Cratchit.