Don’t let your portfolio suffer, take action now
- Lost $400,000 to $500,000 with current adviser
- New adviser says portfolio is a mess
- New adviser wants 1.25% to handle account
- Seek advice from other advisers
- Look for a fiduciary adviser
- Consider fee-only CFP with advanced qualifications
- Interview at least three new advisers
- Do background check on advisers
- Address asset location strategy, tax planning, insurance planning, and estate planning
- Feel comfortable and confident with adviser
- Negotiate adviser’s fees
After losing $400,000 to $500,000 with your current adviser, it’s time to seek advice from other professionals. Look for a fiduciary adviser who puts your best interests first and consider a fee-only CFP with advanced qualifications. Interview at least three new advisers and do a thorough background check. Make sure to address asset location strategy, tax planning, insurance planning, and estate planning. Trust your instincts and feel comfortable with your adviser. Lastly, don’t be afraid to negotiate their fees.
Factuality Level: 3
Factuality Justification: The article provides some general advice on finding a new financial adviser and highlights potential red flags with the current adviser. However, it lacks specific details and evidence to support the claims made. The article also includes promotional content for a free tool from SmartAsset, which may indicate a potential bias.
Noise Level: 3
Noise Justification: The article provides relevant information and advice for someone looking for a new financial adviser. It addresses potential red flags with the current adviser and offers suggestions for finding a fiduciary adviser. The article also provides tips on what to look for in a new adviser and how to negotiate fees. Overall, the article stays on topic and provides actionable insights for the reader.
Financial Relevance: Yes
Financial Markets Impacted: The article discusses the financial losses experienced by the individual due to the actions of their financial adviser.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article primarily focuses on the financial losses experienced by the individual and their search for a new financial adviser. There is no mention of any extreme events.
Private Companies: SmartAsset,Summit Wealth Advocates,The Advisory Firm,National Association of Personal Financial Advisors,CFA Institute,Sentinel Financial Planning,Flynn Zito Capital Management
Key People: Bruce Primeau (Certified Financial Planner (CFP) at Summit Wealth Advocates), James Daniel (Certified Financial Planner at The Advisory Firm), Mark Humphries (Certified Financial Planner at Sentinel Financial Planning), Ryan Haiss (Certified Financial Planner at Flynn Zito Capital Management)
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