Ep #1 – Signs Your Financial Advisor Isn’t Right For You

The Concept:

It’s not uncommon to meet people that aren’t completely satisfied with their financial advisor but don’t feel the need to make a change. Many times, relationships have been formed that prevent clients from making a tough choice, but other times the excuses are a little flimsier. Find out some of the common signs that your advisor might not be a great fit in this episode.

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

The Reality of the Matter:

Finding a financial advisor that fits your goals and your needs can be one of the most important pieces to your retirement plan, but you’re not guaranteed to find that person on the first attempt.

It’s not uncommon to talk to investors that are uncertain or uneasy about their advisor, but don’t make the situation worse by sticking with that person just because. In this debut episode of the Retirement Reality podcast, Mike Kojonen talks about some of the most common excuses people make when sticking with the wrong advisor.

Take note of each of the four excuses today and evaluate your situation to see if any of them apply. We won’t tell you that we’re your best option as an advisor, but we do want you to be absolutely sure your advisor is that person.

The other topic of conversation for this episode tackles the recent presidential debates that have pitched the platform of forgiving student loan debt. Mike gives his opinion on the idea and also shares his personal philosophy as a parent of a child currently attending school.

We’ve laid out the main topics below to make your listening experience more organized. Feel free to click the timestamps to jump around to a specific topic in the episode.

Just The Facts:

[3:27] – In the news: Reacting to the campaigns to forgive student debt.

[6:29] – Mike shares his personal philosophy on how to handle student loans as parents.

[7:45] – Conversation about advisors begins.

[8:13] – Common excuse from clients: My portfolio hasn’t done well but he’s a nice guy and I don’t want to make a change.

[9:20] – Common excuse #2: I don’t understand everything in my portfolio but money isn’t really my thing.

[10:38] – Common excuse #3: We don’t regularly get together for reviews and we don’t talk often, but I assume he’s taking care of me.

[11:54] – Common excuse #4: He doesn’t really specialize in retirement planning but he’s an old friend so I stick with him.

[13:28] – What advice would you give someone that might be in this situation and having second thoughts?

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