Financial Advisors (Part 5): Answering FIVE Frequently Asked Questions
Stay Wealthy Retirement Podcast
Taylor Schulte, CFP®
2.4 • 606 Ratings
🗓️ 2 February 2023
⏱️ 26 minutes
🧾️ Download transcript
Summary
Today I’m wrapping up our series on Financial Advisors by answering five common questions.
Questions such as:
- How important are professional designations like CFP or CFA?
- What is the process for firing a financial advisor?
- Will I incur fees and taxes when transferring investment accounts to another financial institution?
I'm also sharing more about financial coaches + what to do if you are a victim of bad financial advice.
NEED TAX & RETIREMENT PLANNING HELP?
Click to Learn more about our FREE Retirement & Tax Analysis.
We help people aged 50+ lower taxes, invest smarter, and (safely) create a retirement paycheck.
Our Free Retirement Assessment™ will answer your BIG questions and help you properly evaluate our firm.
***
Episode Resources:
📬 Join the Stay Wealthy E-Newsletter
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to the Stay Welfy Podcast. I'm your host, Taylor Schulte, and today I'm wrapping up our series on financial advisors by answering five frequently asked questions. Questions such as, how important is it to look for advisors with professional designations like CFP or CFA? What's the process for firing a financial advisor? |
| 0:23.3 | And will I incur fees and taxes when transferring investment accounts? If this is your first |
| 0:28.8 | time tuning into the podcast, be sure to go back to part one of this series, which aired on |
| 0:33.8 | December 8th to get caught up. And for all the links and resources mentioned in today's |
| 0:38.7 | final episode of the series, just head over to you staywealthy.com forward slash 178. |
| 0:48.3 | Much of what I read and listen to about financial advisors contains a lot of shoulding. |
| 0:53.9 | You should only work with an hourly |
| 0:55.9 | advisor or you should only work with a big company. You should work with my advisor. You should never |
| 1:02.6 | work with that advisor. Or you should manage your own finances and never hire an advisor. |
| 1:08.7 | The constant shoulding is what inspired me to put this series together. |
| 1:13.2 | Instead of telling you what you should do, my goal was to clear up common misconceptions and |
| 1:18.2 | provide clear, objective information about working with a financial advisor so that you can |
| 1:23.8 | make an informed decision about finding one that makes sense for you, your situation, |
| 1:28.8 | and your needs and goals. There is no one-size-fits-all solution when working with a financial |
| 1:34.8 | advisor. Just like there's no one-size-fits-all solution when working with an attorney, a CPA, |
| 1:40.9 | a real estate agent, or any other professional service provider. Everyone measures |
| 1:46.7 | the value they receive from something differently. Everyone values their time differently, |
| 1:52.1 | and everyone has different levels of complexities. Hiring a financial professional is one of the |
| 1:57.2 | most important decisions you'll ever make, so don't let someone should you into making it. |
| 2:03.2 | To help round out this series and cover as much ground as possible before we tie a bow on it, |
| 2:07.9 | I'm going to answer five commonly asked questions today, questions that I get from talking |
| 2:12.6 | to retirement savers and hearing from listeners just like you. So question number one, are professional |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Taylor Schulte, CFP®, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Taylor Schulte, CFP® and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.