What to do when your financial adviser doesn’t fit your financial situation

  • Consider finding a financial adviser who is a fiduciary and has experience working with clients in a similar financial situation
  • Evaluate whether self-managing your portfolio or using a robo-adviser is a better option for you
  • If self-managing, make sure you have a well-documented investment strategy and the discipline to stick to it
  • Look for a fee-only certified financial planner (CFP) who can provide advice without conflicts of interest
  • Discuss your concerns with your current planner and consider finding someone who specializes in retirement planning
  • Consider the reasons behind the recommendation to take Social Security at full retirement age (FRA) and make an informed decision

If you find yourself in a situation where your financial adviser doesn’t seem to understand your financial needs, it may be time to consider making a change. Here are some important points to consider: – Find a financial adviser who is a fiduciary and has experience working with clients in a similar financial situation. – Evaluate whether self-managing your portfolio or using a robo-adviser is a better option for you. – If you choose to self-manage, make sure you have a well-documented investment strategy and the discipline to stick to it. – Look for a fee-only certified financial planner (CFP) who can provide advice without conflicts of interest. – Discuss your concerns with your current planner and consider finding someone who specializes in retirement planning. – Consider the reasons behind the recommendation to take Social Security at full retirement age (FRA) and make an informed decision. Remember, it’s important to find a financial adviser who understands your unique financial situation and can help you achieve your retirement goals.

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Factuality Level: 7
Justification: The article provides advice and opinions from multiple financial planners on the topic of whether to self-manage a portfolio or hire a financial adviser. The information provided is generally accurate and objective, with the financial planners offering different perspectives and considerations for the reader to make an informed decision. However, the article does contain some repetitive information and could benefit from more specific examples or case studies to support the advice given.

Noise Level: 6
Justification: The article provides some useful information and advice on choosing a financial planner and self-managing a portfolio. However, it includes some repetitive information and does not provide a thorough analysis of long-term trends or antifragility. It also does not hold powerful people accountable or provide scientific rigor and intellectual honesty. Overall, the article contains some noise and filler content.

Financial Relevance: Yes
Financial Markets Impacted: No

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the importance of having a fiduciary financial adviser and provides advice on whether to self-manage a portfolio or seek a new adviser. There is no mention of any extreme events or financial market impacts.

Reported publicly: www.marketwatch.com