Is it time to find a new Financial Advisor?
When it comes to planning for retirement, managing investments, or simply trying to get your financial house in order, you want a financial advisor who can help get you to your goals. But how do you know when it’s time to make a change and find a new advisor?
First, let’s talk about the red flags. If your financial advisor isn’t communicating with you regularly or isn’t transparent about the fees they’re charging, it’s a sign that it might be time to look elsewhere. Your financial advisor should be proactive, keeping you informed about how your investments are performing, and how any changes in the market might affect your financial goals. If you’re left in the dark, it’s a clear indication that your advisor might not be prioritizing your best interests.
Let’s not forget the importance of trust either. Your financial advisor should be someone you feel comfortable with—someone who listens to your concerns and takes them seriously. While experience, knowledge, and credibility are all important, doing what’s best for the client is perhaps the most important thing a financial advisor can do.
That’s why when you’re evaluating your current advisor, you should check if they’re a CERTIFIED FINANCIAL PLANNER ™ Professional, or CFP®. There are many designations that mean different things, and it’s always important to choose an advisor with demonstrable credentials that align with your goals. Designations like the CFP® show they are trained to act with honesty, integrity, competence, and diligence while always acting in the client’s best interest.
Lastly, if your advisor is just talking about investments, it’s time to change. There’s more to being a financial advisor than picking stocks or picking index funds. You shouldn’t pay someone to tell you to ride through the market. What your advisor should be doing is actively managing your portfolio like rebalancing your portfolio to actively take advantage of what’s happening in the market.
Equally as important is having a team of financial professionals around your advisor to coordinate all your needs. Chances are if your financial advisor is also acting as your tax expert, they might be missing some key strategies. For example, here at Lineweaver Wealth Advisors, we have a team of dedicated tax professionals who always stay updated on the latest tax changes. They’re able to analyze your specific situation and design a tax plan tailored to fit your particular needs.
So, when should you start looking for a new advisor? Ideally, you should evaluate your relationship with your financial advisor at least once a year. We understand the importance of having a trusted financial advisor to help guide you toward your financial goals. If you want a second opinion on your portfolio, our dedicated team of seasoned advisors is committed to assisting you and finding the best financial strategies for your situation. Call us today for a complimentary, no-obligation meeting today. We’re here to help!
Lineweaver Wealth Advisors, LLC., is a Registered Investment Advisor.
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Case studies are intended to illustrate the types of financial issues faced by actual clients. They should not be construed as a testimonial for or endorsement of Lineweaver Wealth Advisors. They do not represent the experience of any advisory client. Each client’s situation is different, and their goals may not always be achieved. Lineweaver Wealth Advisors, LLC, is not engaged in the practice of law or accounting. Tax information provided is general in nature and should not be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation. Tax rules and regulations are subject to change at any time.
Crain's Cleveland Business is a print and online newspaper delivering local business news and information to Cleveland's business executives, which is published by Crain Communications Inc. The Crain's 2024 list may employ different methodology than described above for similar designations granted in other years. No clients were consulted and no fees were paid to determine the winners; the award is based on assets under management. Neither the participating candidates nor their employees pay a fee in exchange for inclusion on Crain's 2024 List. However, recipients may pay a fee to Crain, an affiliate, or an unaffiliated third party in exchange for plaques or article reprints commemorating the designation. The publication should not be construed by a client or prospective client as a guarantee that they will experience a certain level of results if the recipient is engaged, or continues to be engaged, to provide investment advisory services; and should not be construed as a current or past endorsement of the recipient by any of its clients. Lineweaver Wealth Advisors was ranked in the Top 25 of Crain’s of Cleveland’s annual list of Registered Investment Advisors. The award is based on assets under management in the years 2024. In 2023, Lineweaver Wealth Advisors was ranked in the Top 15 of Crain’s of Cleveland’s annual list of Registered Investment Advisors. The award is based on assets under management in the years 2023. In 2021 and 2022, Lineweaver Wealth Advisors was ranked in the Top 20 of Crain’s of Cleveland’s annual list of Registered Investment Advisors. The award is based on assets under management in the years 2021 and 2022 respectively.
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