Rick Bloom thinks money looks better in your pocket than it does anywhere else. With that in mind, today we discuss the 8 things to know before you hire a financial advisor.
- How is the advisor paid?
- Is the advisor a fiduciary?
- Does the advisor use an independent custodian?
- Who regulates the advisor?
- Which investment vehicles are the advisor using?
- Who is the advisor’s typical client?
- Don’t be fooled by firm names.
- Don’t get caught up in alphabet soup of initials.
Additionally, make sure your advisor is someone you can communicate with.
As always, Rick answers email questions from listeners regarding:
- Paying off mortgages,
- 401k values
- Rollovers and Required Minimum Distributions
- Roth Conversions
Got a question for rick? Email him at Rick@rickbloomtalksmoney.com
Bloom Asset Management website: http://www.bloomassetmanagement.com/