Avoid another disappointing relationship with your adviser

  • Define your goals and expectations from a financial adviser
  • Look for a fee-only adviser who works as a fiduciary
  • Interview at least 3 planners and seek referrals
  • Consider the type of advice you need and the payment structure
  • Seek out advisers from reputable organizations
  • Set clear expectations and communication preferences with your adviser

If you’ve had a disappointing experience with a financial adviser and are looking for a new one, here are some tips to help you find the right fit:

– Define your goals and expectations from a financial adviser. Consider both short-term needs and long-term expectations.

– Look for a fee-only adviser who works as a fiduciary. This ensures that the adviser is only paid by the client and will prioritize your best interests.

– Interview at least 3 planners and seek referrals from trusted sources. This can help you find a reputable adviser.

– Consider the type of advice you need and the payment structure. Determine if you require ongoing advice, hourly advice, or a one-time financial plan.

– Seek out advisers from reputable organizations such as the National Association of Personal Financial Advisors (NAPFA), the Fee-Only Network, or the CFP Board.

– Set clear expectations and communication preferences with your adviser. Discuss how often and via what method you’d like to correspond, your risk tolerance, and any other important factors.

By following these tips, you can increase your chances of finding a financial adviser who meets your needs and avoids another disappointing relationship.

Public Companies:
Private Companies:
Key People: Ryan Haiss (certified financial planner at Flynn Zito Capital Management), Jim Jacobucci (certified financial planner at Financial Finesse), Bruce Primeau (certified financial planner at Summit Wealth Advocates), David Maurice (certified financial planner at Worthwhile Wealth Council)

Factuality Level: 7
Justification: The article provides general advice on what type of financial planner to look for and how to avoid another disappointing relationship with an adviser. The information provided is based on the opinions and recommendations of certified financial planners. While the article does not contain any misleading information or sensationalism, it lacks specific details and examples to support the advice given. Additionally, the article includes some repetitive information and does not address potential biases or conflicting perspectives.

Noise Level: 3
Justification: The article provides relevant information and advice on finding a new financial adviser. It addresses the reader’s concerns about previous disappointing experiences and offers suggestions on defining goals, looking for a fee-only adviser, and considering different types of advice arrangements. The article also provides resources for finding advisers and emphasizes the importance of setting expectations early on. Overall, the article stays on topic, provides actionable insights, and supports its claims with examples and suggestions.

Financial Relevance: Yes
Financial Markets Impacted: None

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the need for finding a new financial adviser and provides tips on what to look for and how to set expectations. It does not pertain to any extreme events or financial market impacts.

Reported publicly: www.marketwatch.com