Ep #9: Excuses We Make for Sticking With the Wrong Financial Advisor

Every decision you make in regard to your finances goes a long way to determining how much you’ll get to enjoy retirement, but using the correct advisor will have a big impact on your planning process. Despite that, investors will often make excuses for working with someone that doesn’t fit their needs and goals. Let’s talk about some of the common excuses that are used.

Today's rundown: 

0:45 – Phil just got back from a family vacation.

2:05 – In the News: Uber now experimenting with food delivery by drone.

3:47 – Email question: How important are some of the letters that some advisors have after their name? I don’t know what most of those mean.

6:18 – Main topic today: why we make excuses for sticking with the wrong advisor.  

7:03 – Excuse 1: My portfolio has done okay the last several years but my advisors a nice person and I don’t want to rock the boat.  

8:48 – Excuse 2: I don’t really understand a lot of what my advisors says to me and I’m usually confused after my meetings but money isn’t really my thing anyway.

11:24 – Excuse 3: We don’t get together for reviews and they don’t return my calls, but I’m a generational client and they’ve been servicing my family for years.

13:30 – Excuse 4: The person you work with doesn’t specialize in retirement planning but you’ve stuck with them because you have a long relationship.  

16:27 – Getting to Know Phil: Who’s someone that always makes you laugh?

Get the full show notes and additional resources here: https://philstaxhacks.com/podcast/ep-9-excuses-we-make-for-sticking-with-the-wrong-financial-advisor/