How to Break Up with Your Financial Advisor

Ready For Retirement

James Conole, CFP®

Investment Planning, Bonds, Education, Stocks, Cash, Business, Dividend Investing, Retirement Planning, Retirement, Investing, Tax Planning

5 • 706 Ratings

🗓️ 3 October 2023

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode James explores signs that may indicate it's time to move on from a current financial advisor and discusses the professional and respectful ways to handle this transition. There are three core aspects to consider when contemplating the change: Deciding to Leave: The first step involves recognizing signs that it may be time to move on. Telling Your Advisor: James provides two scripts for notifying your financial advisor about your decision. Handling Logistics: After the...

Transcript

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0:00.0	Have you ever wondered if it's time to fire your financial advisor?
0:03.4	Maybe you have, but you're not sure how to do it politely or respectfully, or maybe you don't even know what that process looks like without making a mess of all your different accounts.
0:11.2	Well, in this episode, we're going to discuss the signs that it's time to move on from your financial advisor and how to do it in a professional and respectful way.
0:18.7	We'll also talk about what to look forward to a new advisor and how
0:20.9	to make that transition as smooth as possible. So whether you're feeling like you're not getting
0:24.7	the advice you need, or if you're simply not comfortable with your advisor style, this episode is for
0:29.2	you. And I'm going to give you the tools and knowledge you need to make a confident decision
0:32.5	about your financial future. This is another episode of Ready for Retirement.
0:39.3	I'm your host, James Cannell, and I'm here to teach you how to get the most of
0:42.2	life with your money.
0:43.6	And now, on to the episode.
0:47.5	If you're considering breaking up or leaving your financial advisor to transfer elsewhere,
0:52.2	there's really three core things that you need to be
0:54.4	aware of or be thinking through as you make that decision. Number one, how do you decide if it's
1:00.1	even time to leave your financial advisor? So we'll address that. Number two, what's the best way to
1:05.4	tell them that you're leaving? And then number three, how do you actually handle the logistics? In some
1:10.4	cases, it may be simple.
1:11.9	In other cases, there may be some details that you need to be aware of.
1:15.0	So that's what we're going to focus today's episode on.
1:18.1	Now, to start, how do you decide?
1:20.8	How do you know if it's time to leave your financial advisor?
1:24.0	Some of you listening may say, James, I just know it's time. This is a feeling I've been having for some time now and I just need to make the move into it. Other of you might be thinking, you know, I don't really know. I feel like there's some services. Maybe they're a nice guy or nice gal, but I just don't feel like something's completely there or something's missing. Well, to me, there's some telltale signs that it is time
	...

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