8 Things To Know Before Hiring a Financial Advisor

Jun 2020

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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.

  1. How is the advisor paid?
  2. Is the advisor a fiduciary?
  3. Does the advisor use an independent custodian?
  4. Who regulates the advisor?
  5. Which investment vehicles are the advisor using?
  6. Who is the advisor’s typical client?
  7. Don’t be fooled by firm names.
  8. 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

Resources:

Bloom Asset Management website: http://www.bloomassetmanagement.com/