Episode 5:

SEND HELP!!

Do you have a financial advisor? Didn’t think so. Financial advisors do just what their title suggests, and oh so much more. It’s time to start thinking bigger.

$$$ This Is How You Get Money $$$

So when it comes to finding a financial advisor remember:

  • Financial advisors get paid in many different ways, are they selling you products or just giving you advice? Make sure you find out!
  • Make sure they are putting your interests ahead of their own at all times. Are they a fiduciary? If not, it’s probably best to avoid them. 
  • In our opinion, the Certified Financial Planner designation is the gold standard. You’ll want to find someone with those three letters, CFP, next to their name. You can find a CFP at letsmakeaplan.org. 
  • NAPFA is another great place to start. It’s a national organization of “fee-only” financial planners who only get paid by their clients. They aren’t making money off selling you products which is really important
  • It should be very clear how they get paid. They should be able to tell you. The NY Times did a great “21 questions you should ask your advisor” piece and it’s got a ton of great questions that you should be asking any prospective financial advisor. Bring that to the meeting. 

The takeaway? 

Don’t be intimidated by a financial advisor. If someone makes you feel uncomfortable or talks down to you, walk out of the meeting. There are plenty of good ones out there who will listen and be committed to building your wealth with you. Make sure this is a person you trust. You’re going to be spending a lot of time with them.