One Advisor’s Advice on Meeting with A Financial Adviser or Broker (Part 2)

Well, if you have to meet with an adviser then that is your problem.  But I suppose the following could be valid reasons for a meeting:

  • Your married to your adviser
  • Your adviser is a good friend or is in your Family
  • Your adviser has an awesome office with comfortable chairs and a great view
  • Your adviser gets you tickets to cool things and always has this fantastic customer appreciation event and you want to be invited again
  • You are always impressed with what your adviser says, even if you don’t understand it

or maybe

  • You need help with investing
  • You want to put together a plan for your future
  • You have some other financial matters, such as reviewing your cash situation or debt issues
  • You have had a life change event that requires you to evaluate or consider your options
  • Your investments are changing rapidly and you need to make sure you are doing the right thing

There are other reasons too.  In fact, meeting with an adviser can be an important step in helping you make some smart decisions about a wide variety of issues. There are many advisers that can provide outstanding guidance when you need it most.  Alright, so maybe my suggestion to avoid meeting with an adviser or broker/dealer is not great advice!

However, if you call a meeting with an adviser, make sure it is on your terms.  I would suggest sending your adviser, or prospective adviser, an e-mail listing out what you want to discuss and how much time you have.  Let your adviser know that you want to hear their suggestions and ideas – that is why you are meeting, right?, but that you would prefer they be specific to your needs.  If they have any new products or ideas they are going to introduce, ask how they will be compensated for those products.  Frankly, it is better for both parties if you share your experiences and prejudices with your adviser before the meeting.   You could also ask them to describe their experience with your issue(s) and an example of what they have recommended to other similar clients.

Be prepared for your meeting and stay in control.  It is your money and your future, so be sure you keep your meeting moving towards your objectives!

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