On this episode of The Money Guy Show, we go over when and how to hire a financial advisor! Let’s break down how to know it’s time to recruit the help of an advisor and whether or not they have your best interest at heart!
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How and When to Hire a Financial Advisor!
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How and When to Hire a Financial Advisor!
financial advice
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When to hire a financial advisor:
– A lot of money (to not misuse it or even to use it better)
– No time to research for yourself
– Someone to uncomplicate finances especially as we get older
– Just want someone like-minded to bounce ideas off of/get advice from
But watch the video. There's more in it than just that
I have a red rich dad poor dad, can you recommend any reading to educate me on investing?
Dang. 271,000 is not that many! I would have thought there were way more!
About to chat with a few financial planners to help my parents with their retirement. Really thankful for you guys and this content today!
In my late 20s, would it be better to go with a fee based advisor? I recently had an advisor reach out to me: she’s fiduciary and commission.
Brazil knows you guys!
7 minutes listen to this episode, I need to click like.
If I just got 1 million $. What kind of financial advisor do I neeed
I need to hire you guys!!!
These guys will not tell you the truth. You do not need a Financial Advisor unless you want to lose money.
They still get paid when they lose you money. And look up the Warren Buffet $1,000,000 bet proving these guys are just leaches.
Which type of compensation is best for the client? Commission, fee based or fee only?
Do you charge a client with a million in investable assets twice as much as one who have 500k?
This is what I want from my advisor based off this show
Fee only-hourly
Fiduciary standard
Pfs 10+ hours years experience/must pass exam
Estate planning
Do they discuss Help with net worth
Do they discuss Cash flow tax planning
Do they discuss all investment accounts
No insurance policies only talk about plans
Do they discuss but NOT create ESTATE plans (Leave that to a lawyer)
Don't talk about greater than
No one sided answers
Help control my spending
Help me understand what I can spend
Tax preparation No
When i make 100,000 should I hire one?
Thanks so much for such a great video. Explaining the ABC soup stuff really helped. Also explaining what financial advisors do and do not really was amazing content. 👍
I like you guys, despite our last interaction on youtube about the japanese investors versus the american (overly optimistic) investors.
I just wonder if any of you ever pay attention to valuations and Schiller ratios 😉
I was impressed with how much time and education I received from several one on one meetings with Abound Wealth before I became a client. Always quality information.
When I was broke I never heard from financial advisors and that's when I needed them the most. Now that I have some money they are contacting me non-stop. Most are vulgars and want to take the money that you made from you….
Can someone explain what an lutcf is? If its relatable to this subject and whose interest they serve?
Having an advisor to help you determine how much you can spend would be really helpful.
If I had to get a financial advisor, the first thing I would ask is show me their finances. Also wonderful job on laying out all the different types of credentials, types of clients, types of services, all around a great video.
What's your advice with what to with extra money? I'm already having 30-35percent of my earnings to retirement and Investments but still have a few grand lying around what do I do with that?
As a healthcare professional, we have to do a lot of continuing education for license renewals and an exponentially larger number to keep board certification credentials. Does this work the same way for the credentials and licensing you talked about? How much CE is required and how is it obtained?
I like the Edward Jones commercial at the start of your video….Hey, Google your not so smart.
Love you guys you are top notch. The nice thing is being fee only no conflict of interest. Great stuff
I knew Bo was the type of guy top 6% of his class. Awesome job on only 6% of people passing
Great show! You guys are wonderful!
I need to hire you guys & Dustin at Jazz Wealth. Great info as always!!! Thanks
A consolidated view of your overall finances across all accounts is very important. I have one spreadsheet that consolidates the 68 stocks in my five brokerage accounts, my 401K, and my pension account. This shows my total stock and non-stock positions, which is very helpful in managing total assets and allocations.
Great episode and thanks for the info. The “alphabet soup” always confuses me. I’m 35 and plan to work with you guys in a few years to return the favor and complete the abundance cycle (I’m in target funds currently). The trust you’ve built with us listeners (podcast guy here) is unparalleled.
How do you down vote this?
Gentlemen, another great explanation of how to select the best financial planner to help guide through the financial journey! Appreciate the down to earth description of suitability versus fiduciary type of planner. Keep up the great work!
I am 100% positive that I will invest in a CPA in about 10-15 yrs from now!
A number of years ago, I sought out a financial adviser. As you stated, anyone can call themselves a "financial planner". And you're absolutely right to think about how your "adviser" is compensated.
I learned the difference between a "fiduciary" and somebody who makes money by selling me stuff. Especially the whole life "holistic solution" types.
The "Fee for a plan or 1% of assets under management" guy was the only one I felt was being honest. He told me:
"You have things pretty much squared away. Keep doing what you're doing. Think about coming back to me when you have a couple of million you don't want to manage".
I haven't been back.
Do you have any comments regarding the company WealthAbility-ProVision?
On dividend investing if I’m looking at a 3% for your return on dividends and hoping the stocks end up without
I HAVE MY OWN TAX PERSON AND USE EDWARD JONES FOR MY ROTH IRA… I'm more on the conservative side with finances, my opinion important to have 1 specialist on you're team with all financial stuff example have a great real estate agent representing you
When should I reach out to you all I'm at about 250 large what's a good number
Thoughts on securities lending as an individual investor?