5 Things You Don't Want to Hear From Your Financial Planner

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Vovich Milionirovich
5 Things You Don't Want to Hear From Your Financial Planner
  1. What should you not tell a financial advisor?
  2. Why you should not use a financial advisor?
  3. What do people want from their financial planner?
  4. Can a financial advisor steal your money?
  5. Should you tell your financial advisor everything?
  6. Do millionaires have financial advisors?
  7. Can I trust a financial advisor?
  8. Is a financial planner worth it?
  9. Do financial advisors make you money?
  10. What does a financial advisor do day to day?
  11. What is the difference between a financial planner and a financial advisor?

What should you not tell a financial advisor?

Here are the Top 10 Things Financial Advisors Don't Want You to Know

  • The title on my business card may not mean much.
  • The financial service I'm selling is only a sideline for my company.
  • I want your will and trust on file because I make my real money on the settlement of your estate.

Why you should not use a financial advisor?

Not only that, but by shirking responsibility for your own investments, you're also losing a lot of money in FEES. The fees you pay to a financial advisor may not seem like a lot, but it is a huge amount of money in the long-term. Even a 2% fee can wipe out a significant amount of your future wealth building.

What do people want from their financial planner?

They Want Someone Who Will Respect Their Assets, No Matter How Small. One of the biggest reasons why people don't seek out a financial advisor is because they feel as if they don't have enough money to invest. ... 7% of people would feel comfortable meeting with a financial professional with less than $10,000.

Can a financial advisor steal your money?

If your financial advisor outright stole money from your account, this is theft. These cases involve an intentional act by your financial advisor, such as transferring money out of your account. However, your financial advisor could also be stealing from you if their actions or failure to act causes you financial loss.

Should you tell your financial advisor everything?

Just like your spouse, you should go into any meeting or conversation with a financial adviser or financial planner with complete openness and honesty. If you are paying a financial professional for help, they can only do a good job if they know all of the relevant details from your financial life.

Do millionaires have financial advisors?

They have a financial plan

They plan for the future and look at many aspects of their finances, such as savings, debt management (yes, even millionaires have debt), insurance, taxes, investments, retirement and estate planning.

Can I trust a financial advisor?

An advisor who believes in having a long-term relationship with you—and not merely a series of commission-generating transactions—can be considered trustworthy.

Is a financial planner worth it?

But if you're neglecting your finances, it's likely worth it to hire a wealth advisor. Time is money, and there's a cost to delaying good financial decisions or prolonging poor ones, like keeping too much cash or putting off doing an estate plan.

Do financial advisors make you money?

Whenever you meet with financial advisors, ask how they are compensated. Some financial advisors earn their fees from banks and investment companies. So although they offer “free” advice – which may very well be tempting – these advisors usually earn commissions from the investments they sell you.

What does a financial advisor do day to day?

A Day in the Life of a Financial Planner. Financial planners determine how their clients can meet lifelong financial goals through management of resources. They examine the financial history-past and current-of their client's assets and suggest exactly what steps the client needs to take in the future to meet her goals ...

What is the difference between a financial planner and a financial advisor?

A financial planner is a professional who helps companies and individuals create a program to meet long-term financial goals. Financial advisor is a broader term for those who help manage your money including investments and other accounts.


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