Learn about requests people often make of their financial advisor or portfolio when they don’t really understand investing. Also discover what proper expectations are and how to get the help that you may need.

Main Questions Asked:

What don’t I know or understand?

How can my financial relationships be profitable on both ends?

How can I be more involved in the creation of my financial plan?

Key Lessons Learned:

What Makes Requests Unreasonable and Proper Expectations

• Bigger returns with little to no risk. If someone says this, they really don’t understand investments. The problem is they don’t know what they don’t know. One of the biggest dangers is not knowing what you don’t know. Bigger returns mean taking more risk.
• Can you reduce your fees for me? If you want to work with the best, there are going to be fees. If you want to save money, you won’t get the best service. It’s important to get value. Relationships need to be profitable on both ends of the spectrum.
• Can you just do it for me? If you’re going to have a customized plan, you need to participate. It’s not just about numbers, it’s about your goals and your future. A planner is there to help you make the right decision, but they can’t decide everything for you.

What Can You Expect from a Good Financial Advisor

• Reviewing your tax return. Certified financial planners know how to look at a tax return and see where you are being inefficient with your planning. Don’t miss the money-saving advantage of paying less taxes.
• Evaluating the fees and costs of your investments. Even if you think there are no fees, there is some type of time commitment on the money. There are all kinds of fees in mutual funds even hidden ones. Understand fees and costs. Cheapest is not always the best.
• Reviewing family goals and legacy plans. These are the tough conversations like special needs. A comprehensive financial advisor should be talking about all of the things that could come up.
• Is your advisor discussing and planning your retirement income? Retirement is all about income. There is a point where these investments need to be turned into income.

Links To Resources Mentioned

Money Map Retirement Review

1-800-757-0436

Thank you for listening!