Utilizing a financial advisor can be a smart way to manage your money. If you have thought about some short-term and long-term goals that you want to achieve, a financial advisor can help you reach those goals. Unfortunately, not every financial advisor is created equally. You may have been working with your advisor for years, or you might have just met your current financial advisor. Either way, if you aren’t getting the service you desire, it might be time to part ways with your advisor and find someone new.
Hard To Get Hold of
It might seem obvious that your financial advisor should return your phone calls at all times, but there are many people who let their planner disappear for days without contact. Your advisor is responsible for helping you manage your money. You need to be able to trust they will be in contact with you whenever you need them. There is a certain level of customer service that you should be receiving.
Lack of Information and Explanation
As a financial advisor or planner, there is money that needs to be made in order to make this a profession. You are paying your advisor to give you financial advice, but it is important that you know where all of your money and fees are going. Without this information, you can’t trust your financial planner with your money and future. For the most part, money is made in this field by commission. There is also the potential for profit when it comes to selling you investments.
Your Advisor Doesn’t Listen to Your Concerns
It can be stressful to take any percentage of your money and invest it. There is a lot of risk with any investment. If you have concerns about where your money is going, your financial advisor has the responsibility of listening to you and making sure you are ok with everything that is being done. If your advisor dismisses your concerns, it might be time to find someone new to help you.
Your Advisor Doesn’t Take Time to Get to Know You
In order to make appropriate investments that will work for your future, your advisor should spend a little bit of time getting to know you. This will help identify your goals and your concerns. If you feel like you are just another client this isn’t right. Every client should be receiving personalized services.
You Don’t Have Input
Each appointment and conversation with your financial advisor should include conversations about what will be done moving forward. Your input is incredibly important during these talks. This is what helps set your goals and helps your advisor figure out what will work best for your situation.
Sometimes it takes a bit of trial and error to find a financial advisor that is going to be a good fit for you. If you haven’t yet made the plunge, think about your current relationship with your financial planner. If any of these sings apply to your current situation, it might be time to think about changing your plan moving forward.