You and Your Advisor Part 1/3 – Value

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When reviewing the fees you pay, a client (you) need to assess what the value is you get from the relationship – it can be WAY more than just the investing part. This takes a leap of faith at the start of a new advisor / client relationship but within in a short time you will be able to feel if there is value or not.

Here are some real world examples of how you can assess if an advisor is adding value to your life. Ask yourself:

  • Does the advisor spend more time asking me about MY own goals vs his/her latest and greatest investment idea?
  • Does the advisor find ways to save me tax ($)?
  • Do I feel like I am more educated/confident when I leave his/her office?
  • Do I feel like my vision of my ideal lifestyle is clearer now that I met the advisor?
  • Has the advisor helped my wife / husband and I talk about money better?
  • Has the advisor saved me real dollars on fees from where I was?
  • Overall do I feel like I can lean on my advisor for any financial/life question and they steer me in a constructive direction to get what I want?

If you use this list and have yes answers, then likely, you are on track. Now, what is a fair price or fee an advisor charges… see Part 2 (coming soon)

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