With 2022 starting out with a lot of volatility, a lot of people are rethinking their portfolio approach. Maybe you are ready for a new advisor or perhaps you are reaching out to a professional for the first time. In any case, how do we go about finding unbiased and independent advisors in such a large industry? On today’s episode, we’ll discuss some of the key components a balanced and competent advisor should have.
Retirement planning is about a lot more than investment performance. Through the years we’ve identified 6 key areas of risk when it comes to retirement planning and you need to have an interconnected plan that addresses those risks, as we do through the Redefining Wealth Process℠. It’s important to seek out an advisor that is transparent about the process they follow, their professional designations and responsibilities, and how they are paid. At the end of the day, you’ll want an experienced advisor that cares about you and your financial goals.
Further reading mentioned in today’s show: https://www.thebalance.com/are-independent-financial-advisors-unbiased-2388432
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Timestamps (show notes):
2:48 – Solely focused on investment performance
5:44 – Transparency about how they are paid
11:26 – Questions to ask your new advisor
13:52 – Breaking down the hourly model
18:03 – Why do you need a guide?
20:35 – Top things to look for in a new advisor