In this episode, Rachael and Matt discuss the important steps and expectations to consider when choosing a financial advisor. Whether you’re looking for comprehensive financial planning or need help with a specific issue, understanding what to look for can help you make an informed decision. We cover key topics such as assessing rapport, the importance of transparency, and ensuring proactive communication from your advisor.

Key Points Discussed:

1. Know what you’re looking for
   • Step back and consider if you’re really looking for someone to manage your complete financial situation or if you’re only looking to solve a specific problem (e.g., “I’m paying too much in taxes”).
2. Do your due diligence
   • Research the advisor to learn everything you can about what they do, their process, and how they charge. This helps avoid an unwanted sales pitch.
3. Assess rapport
   • An introductory meeting is all about getting a feel for the person and learning more about their service.
4. Expect more than just investment management
   • Look for comprehensive financial planning, coordinating every element of your financial life (investments, cash flow/savings, tax, estate, insurance, and any other part of life that your money touches).
5. Solutions instead of products
   • No investment product replaces a financial plan.
6. Transparency
   • Know what you’re paying.
   • Know how your advisor gets paid.
   • Understand conflicts of interest.
7. Education
   • The best advisor will help you understand your plan.
   • You should be able to explain your plan to someone else.
8. Proactive Communication
   • You should hear from your advisor more than once a year.
9. Thoroughness
   • You can’t expect exceptional results with mediocre inputs.
   • Onboarding should take time because there’s so much to consider.
10. Fiduciary duty at all times
    • Understand the difference between fiduciary duty when making investment recommendations vs. fiduciary duty at all times.

Join Rachael and Matt as they provide practical advice for navigating the complex world of personal finance, helping listeners make informed decisions to secure their financial future.

Rachael X/Twitter - @camp_wealth

rachaelcampwealth.com

Matt X/Twitter - @matthew_garasic

unrivaledwm.com

Disclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions. Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.