Ep 17: 5 Traits Your Financial Advisor Should Have

The Concept:

How do you know if an advisor is a good fit? That’s a question that keeps many people from working with a professional so let’s identify the essential traits every advisor should possess. That might be easier said than done so let’s also talk about how you can determine whether an advisor has these characteristics.

Click the timestamps below to skip around to specific topics in the episode.

The Reality of the Matter:

Are you thinking about working with a financial advisor or already do but want to make sure it’s the right fit? It’s natural to be a little hesitant because you’re trusting someone else with your hard-earned money, but there are characteristics that every good advisor possesses that you can check for.

Today we’re going to take a look at the five traits every advisor should have, no matter your situation or goals. The easy part is knowing what you’re looking for. The difficult part is being able to identify each of these traits so we’ll explain how you can determine that from an advisor before you work with them.

This is what we’ll be discussing on this episode of the Retirement Reality Podcast:

  1. Trust
  2. Likeability
  3. Area of Expertise
  4. Good Listener
  5. Problem Finder

You find these traits and you’ll know your money is in good hands. That’s what we want to help you do on this show. We’ll also discuss a national real estate trend and find out if it applies to Minnesota and Wisconsin.

[1:23] – Excited for the new year and what 2020 will bring.

[2:42] – In the News: For the first time in 37 years, the inventory of homes is at its lowest level nationally. Is that the case in Minnesota and Wisconsin as well?

[6:13] – Personality trait: Trust. How do you identify if someone is trustworthy?

[8:20] – Trait: Likeability. How can you assess whether or not you want to work someone?

[9:45] – Trait: Area of expertise that matches your needs.

[11:50] – Trait: Good listener. You need someone that can key in on what your needs are.

[13:39] – Trait: Problem Finder

[16:50] – Mike adds one final trait to the list: full disclosure.

Thanks for checking out this episode of the Retirement Reality Podcast. We’ll talk to you again next week.



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