Tag Archives | Financial Advisor

Any providers of financial services have opinions and biases. What you can do as a potential client is evaluate the factors that might affect an advisor’s biases.

Ask if Advisors Follow Their Own Investment Advice

There is an old adage that says, “What is good for the goose is good for the gander.” In today’s urbanized world, most of us probably wouldn’t have the slightest idea what’s good for geese. Yet we still know that this saying reminds us to be cautious about anyone who makes recommendations they don’t follow […]

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CFP No Guarantee Financial Adviser Puts Your Interests First

One of the most important ways to find competent and trustworthy investment advisers is to be sure they owe you a fiduciary duty. This means the advisers’ legal and ethical responsibility is to act in your best interests, not their own or their employer’s. An ongoing legal case featured in an October 31 article by […]

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Important Questions Investors Fail to Ask

Last week I reported on the three top questions investors wanted answered when advisors recommended investments. The rankings came from a survey of investors, funded by Dimensional Fund Advisors, conducted in March 2014 by Advisor Impact. I suggested the top two of those factors, the risk associated with the investment and the expected future performance, […]

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Clarify Financial Planning Advice With Reflective Listening

Here’s a useful bit of advice I got from one of my staff members several years ago: “Rick, your clients don’t understand half as much about investing as you think they do.” She didn’t intend any disrespect to the clients. Instead, she was reminding me not to assume everyone swims in the same waters I […]

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The Mirage of Unbiased Financial Advice

Is your financial advisor biased? To find out, just check two things: Is the advisor human? Is he or she breathing? If so, the advisor is biased. Even if someone created a supposedly objective robotic financial planner—let’s call it CFP-3-O—it would carry its programmer’s biases. Any providers of financial services have opinions and biases. A […]

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