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  • Retiree with $1.8 million invested has only withdrawn $100,000, but account is now worth $1.5 million
  • Financial adviser blames the economy and other factors
  • Consider finding a new financial adviser if current one can’t effectively communicate or explain performance
  • Evaluate risk tolerance and investment goals to align with current portfolio
  • Consider working with a certified financial planner (CFP) who adheres to fiduciary duty

A retiree with $1.8 million invested has only withdrawn $100,000, but their account is now worth $1.5 million. The financial adviser blames the economy and other factors. However, it is important to evaluate the performance and communication of the adviser. If the adviser cannot effectively explain the performance or communicate with the retiree, it may be time to find a new adviser. It is also crucial to reevaluate risk tolerance and investment goals to align with the current portfolio. Investing more conservatively and having diversified equities can help weather market ups and downs. When searching for a new adviser, consider working with a certified financial planner (CFP) who adheres to fiduciary duty. They can provide the necessary expertise and guidance to protect the retiree’s best interests.

Public Companies: Summit Wealth Advocates (), The Advisory Firm (), Progress Wealth Management (), Carmichael Hill & Associates (), WorthPointe Wealth Management (), Sona Wealth Advisors ()
Private Companies:
Key People: Bruce Primeau (Certified Financial Planner at Summit Wealth Advocates), James Daniel (Certified Financial Planner at The Advisory Firm), Blaine Thiederman (Certified Financial Planner at Progress Wealth Management), Matt Bacon (Certified Financial Planner at Carmichael Hill & Associates), Anthony Ferreira (Certified Financial Planner at WorthPointe Wealth Management), Mark Struthers (Certified Financial Planner at Sona Wealth Advisors), Lea Ann Knight (Certified Financial Planner at Better Money Decisions)

Factuality Level: 7
Justification: The article provides some general advice and considerations for someone who is concerned about their investment performance and is considering finding a new financial adviser. The advice given is based on the performance of the broader market and the individual’s risk tolerance and investment goals. However, the article does not provide specific information about the individual’s investment strategy or the performance of their specific portfolio, so it is difficult to assess the accuracy and relevance of the advice given.

Noise Level: 7
Justification: The article provides some useful information and advice for the reader who is concerned about their investment performance and considering finding a new financial adviser. However, there is a lot of repetition and unnecessary information, such as the repeated mention of the free tool to find a financial adviser. The article could have been more concise and focused on providing actionable insights and solutions.

Financial Relevance: Yes
Financial Markets Impacted: The article discusses the performance of equities and bonds in the past 7 quarters, which may impact financial markets.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article primarily focuses on the performance of investments and the need for a new financial adviser, without mentioning any extreme events or their impact.

Reported publicly: www.marketwatch.com