Are Financial Advisors Worth It Wealth Managers MUST Ask Question
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Are Financial Advisors Worth It? | Wealth Managers |Must Ask Questions • has 5 Important Questions to ask to answer this question. • Here my RISE Wealth Plan with more: https://retirecertain.com/wealth-buil... • Camille Gaines, AFC • Wealth coach • Accredited Financial Counselor • ---------------------------------------------------------------- • Here are the 5 questions to answer whether financial advisors are worth it. • 1. Do you get a higher investment return on your own than with your financial advisor AFTER FEES? • The question is not really can you, but do you, since financial advisor fees will eat at least 1% of your investment returns, usually. • Depending on account size – average for a million dollar portfolio is about 1% - Source: advisory HQ • How much your advisor charges • 2. Are you willing to take the time it takes to learn how to invest and to invest your own money? If you’re not, this supersedes the other 2 questions. Do you know how to invest? Or are you willing to learn how to invest? • Investing in an etf portfolio is not hard. Most investing strategies, even those a financial advisor uses, divides your investments among stocks and bonds, and possibly another asset or two, but many only invest in stocks and bonds. • 3. If you answered yes to the last question, here’s the most important financial advisor interview question: • Is your financial advisor or wealth manager outperforming the benchmark after fees? • What is the benchmark? Index for any asset class, like the S P 500 index. This is some of the best financial advice I ever learned. • 4. Does having a financial advisor keep you from making more money elsewhere? • Job, making alternative investments, such as real estate or small bs • 5. Does having FA increase your quality of life by reducing your stress and are you at a point where this can be a priority? • • _______________________________________ • Retire Certain is about alternative retirement strategies from income streams and wealth building. • Be sure to Subscribe, Click that little Bell after you subscribe so you know when I post a new video, and leave a comment or question. • Find resources and little seen alternative retirement planning and strategies at https://retirecertain.com/ where I share our crazy income stream after after stumbling into early retirement. • Nothing in this video is meant to be taken as personal financial advice. Hire a financial professional if you need one. As a wealth coach, I do not invest for others. • • • Are Financial Advisors Worth It? | We...
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