How To Spot a Bad Advisor

If you’re in the market for a financial advisor, it’s important to make sure you’re working with the right team. But for those new to the world of financial planning, distinguishing the right advisor from a potentially poor fit can be challenging. In today’s episode, we explore key indicators and red flags to help you navigate this decision and share why a personalized approach in financial planning is so crucial. 

Remember, if an advisor is only focusing on the positives of a certain strategy without addressing limitations, costs, and risks, you’re likely getting caught in a sales pitch. A good advisor will prioritize transparency- openly discussing the pros and cons of investment choices, explaining their compensation structure, and diligently gathering comprehensive information about your unique situation.

Here’s some of what we discuss in this episode:

• If a financial advisor only brings up the benefits of a certain financial strategy and won’t discuss the risks or drawbacks, consider that a red flag
• Is your advisor showing you different options for tackling problems?
• How many questions is your advisor asking about your situation and how much data are they gathering?
• Many believe they have a solid financial plan, only to find out that they have partial answers

Key Takeaway:

"The data for retirement planning has to be a lot broader and deeper than just ‘how much risk are you willing to take?’ and ‘how do we want to allocate your assets?’"

We can assist you on your journey to financial freedom:
https://www.askfreedomfinancial.com/
205.988.0006

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