Why You Would Want A CFP Financial Advisor — And 3 Reasons It May Not Matter As Much As You Think How To Find A Financial Advisor podcast

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Why you would want a CFP financial advisor — and 3 reasons it may not matter as much as you think 8:39

לפני 46 weeks8:39

8:39

Sean talks about why you may or may not want to work with a Certified Financial Planner as your financial advisor. A CFP license holder might be the best advisor for you. But does it really make a difference?

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When you should definitely NOT invest in an annuity! 4:55

לפני 46 weeks4:55

4:55

If you want to invest in an annuity, you need to have a solid reason to use this long-term financial vehicle. And you should definitely have a financial advisor helping you determine if the annuity is your best option, or if another type of investment might better suit your needs.

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If your financial advisor only recommends annuities, they aren't a financial planner or advisor 9:45

לפני 46 weeks9:45

9:45

Sean explains why someone who specializes in pushing annuities could be dangerous for your financial well-being — and the three red flags you need to be aware of.

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What if I am wrong? 25:48

לפני 46 weeks25:48

25:48

Sean and Ben often ask themselves if they're actually helping their clients, or if they may have made a mistake. Ben had a client who was certain he could handle his estate planning needs on his own, without Ben. Spoiler alert: He didn't.

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How to check a financial advisor's public disciplinary history 16:39

לפני 46 weeks16:39

16:39

Sean wants you to know how to check up on your potential financial advisor — because you need to know as much as possible about the individual — using a tool called BrokerCheck.

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The FASTEST and EASIEST way to confirm that your financial advisor is NOT running a scam 3:50

לפני 46 weeks3:50

3:50

Sean recounts a thread in one of his Facebook groups where a member was dealing with a case of fraud, and didn't know where some of his money was. Sean recommends asking two questions: Who holds my money? and Who prints my statements?

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When you would NOT want a fee-only financial advisor 10:58

לפני 46 weeks10:58

10:58

Sean discusses the situations when you want a financial advisor who's paid on commission, and why fee-only shouldn't be a hard, fast limit for you.

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Pros & Cons of working with a newer financial advisor 7:59

לפני 46 weeks7:59

7:59

Sean gives you the ups and downs of hiring a less-experienced financial advisor.

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What does "I am a fiduciary" even mean? 8:51

לפני 46 weeks8:51

8:51

Sean defines "fiduciary" with a little help from the Eternal Source of Truth - Wikipedia. Then he talks about financial advisors who are or aren't fiduciaries, and what that means for you.

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How to Think About Costs 40:08

לפני 46 weeks40:08

40:08

Sean and Ben chat about a simple question with a complicated answer: How much does it cost to do a Roth conversion? There are many ways to answer "How much will this cost?" and they can become overwhelming .

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Dirty little secrets of financial advisor compensation models 17:38

לפני 47 weeks17:38

17:38

Sean shares five secrets some financial advisors don't want you to know about in regards to their fees.

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How to upgrade your financial advisor — at half the cost and twice the value 8:10

לפני 47 weeks8:10

8:10

Sean discusses why you may be unhappy with your financial advisor and what to do in that situation. He's happy to help you navigate finding a new advisor who's a better fit for you.

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How to get 18 potential fit financial advisors in 24 hours 4:15

לפני 47 weeks4:15

4:15

Sean brings up a case study of a relatively young couple looking for financial advisors. He can help you find financial advisors who could be a good fit for you. Don't hesitate to reach out!

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Financial Advisor Fees - a surprisingly simple question to see if you're a good fit for an advisor 7:52

לפני 47 weeks7:52

7:52

Sean discusses the simple question to ask potential financial advisors, to see if they might be a good fit for you.

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Beware of must-have lists for your financial advisor 12:13

לפני 47 weeks12:13

12:13

Sean addresses common must-have ideas around hiring a financial advisor, and why they can make you miss out on your ideal advisor.

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The 80/20 rule 23:38

לפני 47 weeks23:38

23:38

Sean and Ben discuss the 80/20 rule, or the Pareto Principle. Italian economist Vilfredo Pareto observed in 1906 that 80% of the land in Italy was owned by 20% of the population. He looked at other nations and saw that the ratio was the same.

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The WRONG questions to ask a potential financial advisor 4:44

לפני 47 weeks4:44

4:44

Sean talks about questions that you absolutely do not want potential financial advisors to answer without asking a dozen questions back at you.

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Compared to what? 34:13

לפני 47 weeks34:13

34:13

Sean and Ben talk about the dangers of asking "Compared to what?" In Dallas in summer, it's hot. "Compared to what?" Compared to Alaska? Jupiter? your normal temperature? A refrigerator? The heart of a volcano?

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The secret of interviewing a potential financial advisor 9:45

לפני 47 weeks9:45

9:45

Sean discusses the super secret question you should ask any potential financial advisor. In fact, it's so secret, he mentions it 20 seconds into the episode!

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Why would you pay a 1% per year AUM financial advisor fee? 10:33

לפני 1 year10:33

10:33

Sean explains specific fee structures and what they mean for your investment. For example, if you have $1.8 million in assets under management (AUM), you're paying $18,000/year in fees.

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Questions to ask yourself before finding a financial advisor 10:25

לפני 1 year10:25

10:25

Settling your wants and needs from a financial advisor is crucial — because for all intents and purposes, they'll be your partners in ensuring your financial future. Want to retire at 40? Tour the world? Make sure your kids can go to Harvard? Financial advisors can help you reach any or all of those big dreams.…

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How to find a financial advisor - evaluating the common questions you're told to ask 15:59

לפני 1 year15:59

15:59

If you ask anyone who has a financial advisor for the best tips on finding one who fits your style, they'll give you the questions you "just have to ask" before you choose one. Sean provides a deeper look into what typical advice you might hear and how to carefully question this guidance.

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The surprisingly simple BEST question to ask a financial advisor 6:37

לפני 1 year6:37

6:37

This approach allows you to observe the advisor’s process and how they interact with clients. Pay attention to the direction of the discussion and how comfortably it flows. Feeling at ease during this conversation is a positive indicator of their client handling skills.

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How to Make Perfect Short-Term Predictions 40:35

לפני 1 year40:35

40:35

Sean and his colleague, Ben, discuss making short-term predictions - which people have no logical way to make. Even certified financial professionals can't predict whether the stock market is going to be up, down, or flat six months from now.

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Financial Advisor Fees - a surprisingly simple question to see if you're a good fit for an advisor 7:52

לפני 1 year7:52

7:52

Sean talks about how to approach your potential financial advisor's fees. It's important to initiate this conversation early in your interactions to understand how the advisor is compensated. Understanding their complete fee schedule will help you understand the overall cost of their services and make sure there are no hidden surprises.…

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How do I ask my financial advisor what my fees are? 17:41

לפני 1 year17:41

17:41

Sean gives you advice about questions you should ask your financial advisor about their fee structure. It Includes not only how much the advisor earns, but also how much is paid to your investment vehicles, transaction fees, and more.

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Do I need a financial advisor? 16:02

לפני 1 year16:02

16:02

Join Sean Kernan as he answers all the burning questions about finding and working with a financial advisor. In this episode, he answers the burning question on many peoples' minds — whether they even need a financial advisor in the first place.

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How To Find A Financial Advisor » Why you would want a CFP financial advisor — and 3 reasons it may not matter as much as you think

Why you would want a CFP financial advisor — and 3 reasons it may not matter as much as you think

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Why you would want a CFP financial advisor — and 3 reasons it may not matter as much as you think