In this episode, we're back to discuss the complex and often emotionally charged process of changing financial advisors. We'll share the telltale signs that it's time to consider a switch, the questions to ask your current advisor, and what to look for in a new one. In part one, we focused on making sure that your financial advisor aligns with your needs and goals. In this episode, we talk through what the transition to a new advisor looks like.
Here are some key takeaways from this episode:
- When switching advisors, inform your current advisor about your decision and discuss the logistics of transferring your accounts. Be prepared for some paperwork and potential closing fees.
- When searching for a new financial advisor, ask about their credentials, qualifications, and specialization. Consider their investment philosophy, approach to portfolio management, and how they communicate with clients.
- After making the switch, be patient and give your new advisor at least a year to assess the performance and effectiveness of their services. Communication is key, so don't hesitate to ask questions or seek clarification if needed!
Get additional financial information: https://sephtonfinancial.com/podcasts/
