-
Do stock markets confuse and frustrate you?
-
Did your last financial plan crash and burn?
-
Did you find that your do-it-yourself approach is what did you in?
-
Have you learned that there are very few people that will tell you the truth?
-
Is the adviser you use now disappointed you for the last time?
-
Is it time for to take a good, honest, hard look at where your at and where you can go?
What I do for my clients:
I provide my clients unbiased, objective, Fee-Only financial advice and investment management.
I place my clients interests first. I have a fiduciary standard of care and work on a Fee-Only basis directly for them, never taking commissions or fees from anyone else.
I educate my clients so the fully understand their options and then let them make up their own mind about how they would like to proceed.
I create complete financial plans for my clients based on there specific situation, goals and desires. Then that plan is used to guide decision making going forward. No cookie-cutter approach here. Your financial life is unique and the financial advice you listen to should be unique to you as well.
My process is to find out where you are now, where you want to go, and then find the best path to get there. It's outlined in my book How to Create Your Own Personal Financial Plan.
Read the material on this site, read my free books, and consider if my approach would be helpful to you.
If you think we might be a good fit, make a list of every financial question you have, and call me directly today at 510-754-7271. You'll know soon enough if I can walk the walk and if we should be working together.
Minimum account size $250k.
Top Ten Things to Consider When Looking for Financial Advice
10. Sharp dressing doesn't equal shape thinking. Are they trying to mislead you into thinking they are something that they are not by looking the look and talking the talk, but without the ability to walk the walk? Their mind is your key; the fancy suit, the slick talk, is not. If you can't judge a book by the cover, you surely can't judge an adviser by their suit.
9. Showing interest in you can be faked. Are they really interested in you and your situation or do they see you as another file in the cabinet and fee in their pocket? Many will feign interest to gain your trust. Just because they remember your name doesn't mean they care about what happens to you. Ask them about their goals and ambitions and you may be surprised that you aren't part of their long term plan.
8. Choose those that do the work, not those that sell the work. Do they do the work or are they just the "front" for another person that does the actual work? Ask if they do the work themselves or they give it to others. If they answer the latter, either move on, or at least ask to talk to the people that do the work as they are the key to your future.
7. One size doesn't fit all. Do they use standardized everything resulting in you being lumped in with their standardized client base? Or do they do custom work that answers your specific issues and fills your specific needs? Why would you want to be processed as generic? Do you really want to wear a big yellow label that says "Client"?
6. The method of compensation matters. If they are taking commissions, it's in their best interest to suggest products in which they make money. Some that take commissions are still outstanding advisers. Others are just trying to make rent. What you want is objective, unbiased analysis that tells it like it is, even if you don't want to hear it. Can you imagine paying a medical doctor on commission? Your financial health is second to your physical health, but it should be approached in the same way. Tell it like it is, not like you want to hear it, especially when it's just so they can profit from it.
5. Communication is crucial. If you can't understand what they are talking about, or they don't take the time to explain something to so that you can understand it, they aren't for you. Conversely, if they can't understand what your questions are or what you are trying to tell them, it's a bad fit. Yes, sometimes things are complex, but the ability to educate and inform you about your situation, and how to make the best decisions possible, is the advisers job. So it's crucial that you both can communicate clearly with each other.
4. Risk is more important than reward, but much harder to measure, discuss, and present. Notice how much of the conversation, or printed materials, talk about risk compared reward. There should be significantly more focus on risk because it's far more important. But it's often avoided by advisers because it's a negative thought that most people want to ignore or avoid, and it's very difficult to show in a simple graph or chart. If they stay mute on risk, that's your sign to open your mouth and say, "Thank you anyway. Goodbye!"
3. Credentials aren't much more valuable than the paper they are printed on. Anyone can learn to pass a test, or take or even teach a course, or attend a seminar or meeting. So don't be too impressed by credentials. I know. I have plenty.
I am a Registered Investment Adviser, a Certified Financial Planner(R) Certificant, a member of the Financial Planning Association and the National Association of Personal Financial Advisors; I have a Doctorate concentrated in Finance, a MBA, and I am on faculty teaching finance, economics, and financial planning at Golden Gate University in San Francisco. And while I am proud of those accomplishments, they aren't enough for you to know who I am and what I will do when working with you.
Smart people can be as corrupt and crooked as everyone else as the news shows all too well with highly credentialed people doing perp walks. And not so smart people pass those tests all the time. Tests aren't that hard to pass with a little bit of work. Again, I know. I was there, usually helping others to pass. And many used "grandfather" clauses to get credentials without passing any exams at all.
On the other hand, no credentials is also problematic, so that pile of credentials does mean something. But think of it as just a big pile, and never use it as a deciding factor when choosing a financial adviser. It's probably best if you just forget the string of initials behind someone's name, and spend your time seeing how they think and act. After all, that's far more important.
2. Who they work for matters. Are they someone that you can trust to put your interests above theirs? Or are they working for some faceless bureaucratic corporation that must, by definition, work in the best interest of their shareholders? Bigger isn't better in this case. Bigger is driven by profitability, and the key to profits is to get more money from clients or give them less in return for the money they are paying. CEO's of public corporations are pushed for profits every quarter and all major financial firms are public. They are mandated to get and keep the stock price up, and that costs you money, sometimes big money.
1. Honesty and integrity are paramount. There is nothing more important than this when dealing with the business side of your life. Test their honesty by allowing them enough rope to hang themselves. You'll be surprised at what people think they can get away with. Contact me if you need some rope.
Now compare my list with the suggestions of others and make your own decision about who's putting your interests first, telling you the truth, and would be someone you want to work with.
If you think we might be a good fit, make a list of every financial question you have, and call me directly today at 510-754-7271.What do you have to lose? You just might learn something.
If you aren't that sure we would work well together, but still need financial advice, consider my book on creating your own financial plan. It will provide you a step-by-step method for creating your own financial plan.