In an unfortunate skiing accident, I recently tore the anterior cruciate ligament (ACL) in my left knee. I am now three weeks post-surgery and doing well, but beforehand spent a month tirelessly interviewing and researching surgeons to perform the operation. Through this process I figured out that they are all “really nice” people and because of this I was stuck in decision paralysis on who to choose. It wasn’t until I dug deeper that I found the perfect match for me, and I couldn’t be happier with where I am today.
In this case, digging deeper included the following:
Choosing the right surgeon and surgery type was important for me and I wanted to make sure I didn’t regret my decision. After going through the above list, it was easy for me to narrow down the list of surgeons and confidently come to a decision I know was best for ME.
I believe the same holds true for people looking for a trusted financial advisor. At the end of the day, I believe, like surgeons, advisors are all “really nice” people, so investors must dig deeper to help find the right match for their situation. Usually a life event (marriage, children, retirement, changing jobs, etc.), just like my injury, sparks your need to look for an advisor or second opinion. Without the right list of questions, it’s easy for decision paralysis to take over!
Below are some questions that hopefully will help every investor distinguish the right financial advisor from the rest of the “really nice” people in the industry:
Just like my experience finding a surgeon, choosing the right financial advisor can prove to be tough and decision paralysis often takes over. Hopefully the list above will help you weed through the plethora of “really nice” people in this industry and find the perfect financial advisor for you.
Other articles filed under Investing
October 22, 2018
Stock Markets For the last quarter, stocks are up except for Emerging Markets, which were close to flat. Domestic stocks are seemingly shrugging off the uncertainties of increasing interest rates, trade wars and tariffs. Year to date, an Emerging Market...
October 16, 2018
Interest rates are rising, and yet you may not be earning much on your cash. As financial markets finally begin to reflect a recovery from the crisis of 2008-09, the brokerage industry is changing the way they handle customers’ cash,...
October 12, 2018
We had several clients this year reach out to ask how bonds were performing in their portfolios. These are great questions, so we created a few items to address what you see in your statements. Some people notice they have...
October 9, 2018
“Give, but give until it hurts.” - Mother Teresa - I don’t think Mother Teresa paid much attention to the tax code, but her quote is unusually prescient for 2018 taxpayers. The changes have made it unlikely to get...
September 20, 2018
How does/and how much does your advisor get paid? Fees matter. It is important to know how much you are paying and the value you receive for that payment. If you're paying 1% or more for only investment management with no...