Is it time to change Financial Advisors?

Most people upon hearing that a friend or family member is sick recommend seeking a second medical opinion. I give the same advice when turbulence hits financial markets and you find that your current financial advisor has put your retirement at risk.

Below are 10 warning signs that it’s time to start looking for a new advisor:

1) You haven’t heard from your advisor and feel as though they are servicing their larger clients.

2)Your advisor reviews charts and graphs rather than your personal circumstances.

3) Your portfolio is consistently down more than the S&P 500 index (if this is your benchmark).

4) Your portfolio is comprised of financial products and lacks diversification.

5) You invested with a talk radio host only to find they are not managing your account.

6) Your advisor can’t explain why your portfolio has underperformed the market.

7) Your advisor doesn’t follow the investment markets or doesn’t take responsibility for their investment decisions.

8) Your advisor is greedy when others are greedy and fearful when others are fearful.

9) There has never been a change to your investment strategy or portfolio as your goals change.

10) Your advisor doesn’t manage risk and does not monitor your portfolio.

If you believe that your advisor shows any of these signs, it might be time to move on to a new financial advisor. I recommend that you interview at least two or three advisors before making a financial decision. Feel free to reach out at to me mitch@cgfadvisor.com for one of those interviews.  I offer free portfolio reviews and can bring my 18 years of investment experience to managing your portfolio.

 

The Standard & Poor’s 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. It is a market value weighted index with each stock’s weight in the index proportionate to its market value.

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The material on this site represents an assessment of the market and economic environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. Forward-looking statements are subject to certain risks and uncertainties. Actual results, performance, or achievements may differ materially from those expressed or implied. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed to be accurate, does not purport to be complete, and is not intended to be used as a primary basis for investment decisions. It should not be construed as advice meeting the particular investment needs of any investor.

Advisory services offered through Constant Guidance Financial LLC, a registered investment adviser.

 

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