Monday, 22 July, 2024

When To Fire Your Financial Advisor


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INTERVIEW ON THE PRICE OF BUSINESS SHOW, MEDIA PARTNER OF THIS SITE.

Recently Kevin Price, Host of the nationally syndicated Price of Business Show, welcomed David Lewis to provide another commentary in a series.

The David Lewis Commentaries

The profession of financial planning began in the 1960s. The justification for the profession largely hinged on the idea that the financial markets had become too complicated to navigate on one’s own. Plus, the idea of “retirement planning” was starting to take off. Thus, individuals needed help and guidance from a knowledgable expert—The Financial Planner.

 

A financial planner could provide all the answers an amateur investor needed to be successful. He could help minimize taxes, maximize investment returns, and help avoid common financial mistakes. All you had to do was pay him a bunch of money and he would tell you what to do.

 

Today, the financial planning industry is massive, and investors take for granted that they probably need someone else to tell them how to manage their money.

 

But, do they?

 

In today’s commentary, I discuss the experience a friend of mine had with a professional investment advisor. I also discuss when it might make sense to fire your financial advisor and go it alone.

 

David has been a licensed life insurance agent since 2004. In addition to life insurance design and sales, he has also helped develop educational and marketing content for large financial firms like Allstate, New York Life, State Farm, AmTrust, and J.G. Wentworth. His articles and essays on life insurance and Human Life Value are currently taught at California State University (CSU) as part of its Expository Writing and Reading Course, and his articles on budgeting, life insurance, investing, and financial planning have been featured in online publications like ThinkAdvisorThe Huffington PostNuWire Investor, and RealClearMarkets. David is also the author of several short eBooks on budgeting and saving money, and the designer of the xFlow™ budgeting app and the xCalc™ suite of financial calculators.

Visit www.monegenix.com to learn more.

Connect with him through social media:

Twitter/X: @the_rogueagent

For more great business content see here.

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