A financial advisor with your best interests at heart can be a valuable partner who can help get closer to the future you envision for you and your family. And since financial decisions can be both overwhelming and risk prone, having a professional expert on your side can help you stay informed and give you the peace of mind you deserve.

But make no mistake, choosing the right financial advisor is a critical decision that will have a considerable impact on the rest of your life. To help you we’ve put together a list of the 7 most common mistakes to avoid when looking for the right fit for you.

A financial advisor with your best interests at heart can be a valuable partner who can help get closer to the future you envision for you and your family. And since financial decisions can be both overwhelming and risk prone, having a professional expert on your side can help you stay informed and give you the peace of mind you deserve.

But make no mistake, choosing the right financial advisor is a critical decision that will have a considerable impact on the rest of your life. To help you we’ve put together a list of the 7 most common mistakes to avoid when looking for the right fit for you.

A fiduciary advisor is legally required to act in the best interest of their client. This means they cannot recommend investments that fatten their own wallets at the expense of their clients. There are grave legal consequences to violating this requirement. This is why you should always insist on working with a fiduciary.

A fiduciary advisor is legally required to act in the best interest of their client. This means they cannot recommend investments that fatten their own wallets at the expense of their clients. There are grave legal consequences to violating this requirement. This is why you should always insist on working with a fiduciary.

Even if an advisor is a fiduciary, they may not have an investment philosophy that is in line with your beliefs on financial markets or your appetite for risk. Advisors can have wildly differing opinions on the state of markets, the long-term prospects of financial products, and risk management. At Portfolio Medics we are upfront about our philosophy that investment success should not be tied to uncontrollable forces such as stock market volatility. Our investment strategies are designed with the aim of protecting and growing retirement accounts in all market conditions. There are other investment firms with a more short-term outlook designed for higher risk for potential for greater returns.

Even if an advisor is a fiduciary, they may not have an investment philosophy that is in line with your beliefs on financial markets or your appetite for risk. Advisors can have wildly differing opinions on the state of markets, the long-term prospects of financial products, and risk management. At Portfolio Medics we are upfront about our philosophy that investment success should not be tied to uncontrollable forces such as stock market volatility. Our investment strategies are designed with the aim of protecting and growing retirement accounts in all market conditions. There are other investment firms with a more short-term outlook designed for higher risk for potential for greater returns.

Some advisors earn only through the fees paid by clients, no commissions. They are referred to as fee-only advisors. This fee may be charged annually as a percentage of assets under management (AUM). Alternatively, a fee-only advisor may offer a flat fee or charge at an hourly rate. Other advisors may earn through some combination of client fees, commissions and brokerage fees. It is crucially important to know how they are paid, and to carefully compare your options.

Some advisors earn only through the fees paid by clients, no commissions. They are referred to as fee-only advisors. This fee may be charged annually as a percentage of assets under management (AUM). Alternatively, a fee-only advisor may offer a flat fee or charge at an hourly rate. Other advisors may earn through some combination of client fees, commissions and brokerage fees. It is crucially important to know how they are paid, and to carefully compare your options.

It is easy to be overwhelmed by options when interviewing advisors. Nevertheless, it is critical that you interview at least 3 advisors before making your decision on who you entrust your nest egg. Understand their investment philosophies, credentials, and their outlook on the current financial market. Only then, make an informed decision on who is right for you.

It is easy to be overwhelmed by options when interviewing advisors. Nevertheless, it is critical that you interview at least 3 advisors before making your decision on who you entrust your nest egg. Understand their investment philosophies, credentials, and their outlook on the current financial market. Only then, make an informed decision on who is right for you.

To legally offer investment advice, it is required that financial advisors pass a number of tests. It is not rude to ask your advisor about their licenses, tests, and credentials. A fiduciary should be willing to disclose these details to prospective clients. For instance, I hold a xyz,

To legally offer investment advice, it is required that financial advisors pass a number of tests. It is not rude to ask your advisor about their licenses, tests, and credentials. A fiduciary should be willing to disclose these details to prospective clients. For instance, I hold a xyz,

Your financial decisions have consequences not only on you but also your spouse who you should be consulted with on such matters. Moreover, the state of your finances and whether your partner has a say in such decisions can have considerable effect on the health of your relationship. Be wary of financial advisors that try to force you to make a snap decision on the phone without allowing you to consult your spouse first.

Your financial decisions have consequences not only on you but also your spouse who you should be consulted with on such matters. Moreover, the state of your finances and whether your partner has a say in such decisions can have considerable effect on the health of your relationship. Be wary of financial advisors that try to force you to make a snap decision on the phone without allowing you to consult your spouse first.

It is sadly common for people to choose an advisor referred by a friend or family member, even if it is the only advisor they have ever spoken to. This is tempting when the friend or family member has seen spectacular short term gains working with a particular advisor. However, this would not be prudent. While a positive referral may be some indication of the advisor’s competence, it does not provide you the complete picture. Always additionally do your own research and speak with multiple advisors before choosing one.

In conclusion, there are many factors to consider when seeking the right financial advisor for you. If you’re currently speaking to or working with an advisor, and are not sure if what they’re recommending is the right fit for you, I would be happy to provide you a 2nd opinion (complimentary) for no obligation. Click the link below to reach out to me directly.

It is sadly common for people to choose an advisor referred by a friend or family member, even if it is the only advisor they have ever spoken to. This is tempting when the friend or family member has seen spectacular short term gains working with a particular advisor. However, this would not be prudent. While a positive referral may be some indication of the advisor’s competence, it does not provide you the complete picture. Always additionally do your own research and speak with multiple advisors before choosing one.

In conclusion, there are many factors to consider when seeking the right financial advisor for you. If you’re currently speaking to or working with an advisor, and are not sure if what they’re recommending is the right fit for you, I would be happy to provide you a 2nd opinion (complimentary) for no obligation. Click the link below to reach out to me directly.