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The Stacking Benjamins Show

When Should I Fire My Financial Advisor? (Your Letters)

The Stacking Benjamins Show

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

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

4.42K Ratings

🗓️ 20 February 2019

⏱️ 74 minutes

🧾️ Download transcript

Summary

Today we'll throw out our regular playbook to focus on what's really important: your burning financial questions! From Ginny, who wants to become interested in finance (plus a husband who has a BIG man-crush on OG), to Craig and his wife who just inherited a big sum of money....and to Chris wants to know if he should use his savings to pay off his car note before his wedding, we made you and your questions our BIGGEST focus today.

BUT, that's not all... we still managed to tackle two big headlines. Making ripples across the financial sector, one ex financial adviser has been sent to prison for seven years after stealing $300,000 from a 97 year old. How do you avoid that mess? We'll show you where this situation went off the rails. Plus, in our second headline, a series of mistakes has the Omaha Public School' pension fund scrambling after a $771 million shortfall. Headlines like these don't exactly inspire trust in the financial industry, so we'll share our big ideas on saving for retirement without walking into a mess like this.

A letters episode doesn't mean we're skipping out on the Haven Life Line! Jared is at a critical point with his financial advisor, who hasn't had the best returns in the past couple of years. Is it time for Jared to give his advisor the boot? We can't make the decision for him... but we can tell him our thoughts.

As always, we'll still save some time for Doug's (completely epic) trivia.

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Transcript

Click on a timestamp to play from that location

0:00.0

Hey, this is Andy Hill from the Marriage Kids and Money podcast.

0:02.9

And when I'm not singing Disney karaoke songs with my kids at home, I'm stacking

0:08.3

Benjamins.

0:14.2

Live from Joe's mom's basement.

0:16.9

It's the Stacking Benjamin show.

0:19.0

Yeah. It's the Stacking Benjamin's show.

0:29.5

I'm Joe's mom's neighbor, Dugget. And today we're tossing everything else aside so we can focus on what's important you.

0:35.5

That's right, we're answering your letters today. We'll tackle a note from

0:38.9

Jared who finds himself at a crossroads with his financial advisor. With less than stellar results,

0:45.0

is it time to give his advisor the boot? We'll also say hello to Andrew, who's wondering about

0:50.9

small company stocks. He's heard that these investments have outperformed other types of investments.

0:56.5

We'll answer tons more.

0:58.2

Throw out the Haven Lifeline.

0:59.9

Endure a rant from Joe.

1:01.9

What else is new?

1:02.8

And still, leave some time for the trivia master himself.

1:07.2

That's right me.

1:08.8

And now, two guys who are huddled around, their microphones ready to make some magic, it's Joe and O,

1:16.0

J-J-J-J-J-J-J-J-J-J-J-J-J.

1:22.1

You think Mom would get angry if we started a campfire here on the floor in the middle of the basement?

1:32.6

Smoke detectors might go off.

1:34.4

But then we get a nice warm rain.

...

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