Who’s the Right Financial Advisor for You?

Who is the person you should be hiring to be the financial expert in your life?

In this episode, I will be sharing some checklist items you should go through to determine if somebody should be the financial expert in your life. Getting a financial advisor is not a poker game. There is no way you can gamble your hard-earned money.

It is essential to note that hiring a financial advisor doesn’t mean giving up your decision-making role. You remain the boss of your money, and you are in charge of making all the decisions. The advisor should be a guide.

Listen in to this episode to learn the tips.

Key Talking Points of the Episode: 

[05:10] Experience: Are they experienced and does the experience include a recession?

[07:11] They should be independent

[09:18] Fee-based and not commission based

[10:59] They have a low-risk tolerance

[13:36] cash flow focused; you should get somebody who has that focus on generating income

[15:04] Team of experts: don’t go for the One-Stop-Shop person, go for somebody who’s specializing and has a team of experts surrounding him/her.

Standout Quotes from the Episode:

“Be careful not to hire an advisor, that’s got one year of experience, repeated 30 times.”

“When any recession is hit, most people lose money in the markets. You don’t want to be the majority; you don’t want to be conventional. You want to be away from that.”

“Like attracts like people of integrity, attract people of integrity.”

“The truth is, you are the boss of your money, not them. You should not be turning over control to somebody else. You should not just let somebody else you all this decision-making for you.”