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The Stacking Benjamins Show

How To Fire Your Financial Advisor

The Stacking Benjamins Show

Joe Saul-Sehy and Josh ‘OG’ Bannerman, CFP

Business, Financial Planning, Cfp, Education, Personal Finance, Retirement, Investing, Money

4.42K Ratings

🗓️ 8 April 2019

⏱️ 84 minutes

🧾️ Download transcript

Summary

Ever wonder about firing your advisor? One woman wrote to Joe about firing her advisor, and we realized that's a question that many people have. How does the process work? Do you tell them? How do you move your money somewhere else? In their haste to get rid of an advisor, some people make big mistakes that end up costing them lots of money.

Today we're letting you be a fly on the wall. In place of our regularly featured interview, we'll let you listen in on the recorded conversation Joe had with an anonymous listener who's gotten fed up with her financial advisor. They'll discuss whether to sell assets, what records to keep, how to talk to the advisor, and what to look for in new/better help and brokerages.

Plus, in our headlines segment (couldn't get rid of that, could we?), the nation's biggest bond investor has dismissed the possibility of a stock market downturn in the near future. BUT, many in the financial media think the signs all point to stock market doom and the downturn is at our doorstep. So, who should we believe? Should our financial plan change regardless of what happens?

And later in the show, we'll throw out the Haven Life Line to Danielle. Her son, who has special needs, is getting his job. They are working toward him living independently and want to open an account for him at a brick-and-mortar bank where he'll have assistance if needed and easy access to his cash. Thoughts?

Then, in our letters segment, we'll cover a (totally) hypothetical question from Matt. Would it make much sense to have his kid forgo the traditional college experience and instead put all the savings into an investment account? It's all about time in the market, right?

Don't you worry, we'll cover it all and more (including Doug's trivia), on today's content-packed episode of Stacking Benjamins.

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Transcript

Click on a timestamp to play from that location

0:00.0

Hey, this is Joe's sister Nikki.

0:02.8

I think I might be the only girl in the world who has a brother who spends his entire day in the basement,

0:09.5

pretending he has an internet radio show.

0:18.6

Live from Joe's mom's basement, it's the stacking Benjamin show.

0:28.0

I'm Joe's mom's neighbor, and while there may be 50 ways to leave your lover,

0:35.8

there are only a couple of good ways to leave your financial advisor.

0:39.7

What are they?

0:40.6

Joe had a call with an anonymous listener about this very topic, and you'll get to hear all about it today.

0:46.6

Plus, in our headline segment, the nation's biggest bond investor is laughing off the possibility of a stock market downturn in the near future.

0:55.0

Even though many in the media think technical signals say it's right around the corner.

1:00.1

Who's right?

1:01.0

Well, that's not all.

1:02.1

We'll also throw out the Haven Lifeline, answer a letter from the mailbag, and, yep, you guessed it, save time for some of my mouth-watering trivia.

1:10.8

And now, two guys who are back and ready to help you plug in and get the week started,

1:15.8

it's Joe and O J-J-J-J-J-J-J-J-J-J-J-J-J.

1:23.2

And happy Monday.

1:25.3

I am Joe Salsy.

1:26.5

I am Joe Salsy.

1:26.6

I Average Joe Money on Twitter.

1:28.6

And so happy to be back for another week of the Stacky Benjamin show.

1:33.7

And here equally is excited.

1:36.0

So excited.

...

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