7 Things To Know BEFORE Seeing A Financial Adviser
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💲 NEED FINANCIAL ADVICE? 💲
1) Google "fee-only financial adviser" or visit www.NAPFA.org (largest association of fee-only financial advisers). NOT an affiliate link
2) The first question to ask any financial adviser is, "Are you a fiduciary to me 100% of the time". Get the answer in writing
3) Please note that some people call themselves "fee-based". This is NOT the same as fee-only. Fee-only advisers have committed to being fiduciary to you 100% of the time.
4) Personally, I would only hire an adviser who is a fiduciary to me 100% of the time. This is not a suggestion on what you should do. Just sharing my personal preference.
⚠️ Azul's "Scammer" Warning ➡ PLEASE READ! ⚠️
Be careful of scammers. In the comments section, I will NEVER ask you to contact me, offer any investment products, recommend a stock broker, or anything similar. Some scam bot commenters 'ask' for investment help, and later, other comment bots reply with "how great X idea/investment/person is" in the replies. These are scam threads. Do not fall for them.
🚨 Azul's VIDEOS ARE NOT FINANCIAL ADVICE (Disclaimer) 🚨
This information is only provided as an informational resource and should not be viewed as investment advice or recommendations. To get professional financial advice from a fee-only financial advisor near you, please visit www.napfa.org.
The decisions on how to invest, when to retire, and other financial planning topics are some of the most important financial decisions you will make in your life. I urge you to seek professional financial advice as you make this decision. Ideally, from a financial adviser, AND a CPA AND an attorney. Having the perspective of all three professions will help you make the right decision for you and your family.
This information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and may NOT be suitable for all investors.
This information is NOT intended to, and should NOT, form a primary basis for any investment decision that you may make. Always consult your own legal, tax, and/or investment advisor before making any investment/tax/estate/financial planning considerations or decisions.
Spoiler Alert: There are no "get rich" programs. Rather, just basic blocking & tackling and putting in time and care. Do your homework, choose wisely and (IMHO) work with experienced professionals who are fiduciary to you 100% of the time.
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@nicolasbenson009 28 күн бұрын
I used to work as an investment advisor. The advice presented in the video is excellent and holds true for the average American. While it's a fact that money can't directly buy genuine happiness, it does provide the means to access experiences that can lead to happiness. However, for individuals with a substantial portfolio, say around $5 million, if you observe closely, you'll find that most people in their 70s are still quite active (I live in LA), but by the time they reach 80, their activity levels tend to decline. So, it's essential to enjoy life at some point before it's too late. That enjoyable vacation might well be the experience that brings comfort in your later years. It's important to distinguish between spending money wisely and squandering it. Be prudent in your value-conscious spending.
@berniceburgos- 28 күн бұрын
Experienced the same thing. The financial counselor we met with last year told us, "Guys, you've already made it," even though my spouse has retired. Stop delaying enjoyable activities in life.
@tatianastarcic 28 күн бұрын
I completely agree. I'm 54 years old and recently retired with roughly $1.8m in outside retirement funds, no debt, and very little money in retirement funds relative to the total value of my portfolio over the past 3 years. To be honest, the Fin-advisor's role can only be downplayed, not dismissed. Simply try to identify a reliable one. Spending money on possibilities and things that might not exist much sooner than we realize is completely different from wasting it. As you said, being value-conscious is essential.
@Michaelparker12 28 күн бұрын
Do you mind sharing info on the adviser who assisted you? I'm 39 now and would love to grow my stock portfolio and plan my retirement
@tatianastarcic 28 күн бұрын
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
@BridgetMiller- 28 күн бұрын
I just checked her out on google and I have sent her an email. I hope she gets back to me soon.
@cueoneful 29 күн бұрын
We love our Financial Advisor. He's A Fiduciary.......PERIOD. Our Investments Are Up 39% over Past 2 Yrs. In Our Late 60's....Retired. 50% In Equities...... We Own Great Co's. Amazon - Nvidia.......Google......Etc.....
@markbabcock40205 26 күн бұрын
Great thoughts Azul. Always like your advice and videos
@chuck_in_socal 29 күн бұрын
I’m not saying financial advisors aren’t a good choice for some people, but I’ve talked to a few and never found any need to bring one on board. I’m an Engineer with a background in math, and I have many years of investment experience. Be careful!
@music-jj2pl 28 күн бұрын
Same here. I'm in software. Do you use a tool?
@tfc850 29 күн бұрын
I love my advisor. I just don’t see the value of paying 1% every year. When I add that amount up for the remainder of my life it’s over 500k! I want to find an hourly rate advisor.
@Growing-Our-Retirement 28 күн бұрын
With the resources available today many don’t need an advisor. But with emotions high and markets volatile an advisor could save you from total ruin. Got to know yourself.
@tomdiblasi7840 28 күн бұрын
Exactly. With two million dollars of retirement savings (assuming the lower 1% AUM fee), that equates to $877K (assuming $20K per year invested for 20 years growing at a CAGR of 7%).
@WordsPictures997 28 күн бұрын
Thank you soooo much Azul!!!!! This was such a great video!!!!
@WordsPictures997 28 күн бұрын
That breakdown at the end was soooo helpful! Makes so much sense!
@kennv7566 28 күн бұрын
I don't know which one is harder, finding a good financial adviser or a good woman.
@nogames8982 25 күн бұрын
I don’t have a financial advisor. I keep thinking I should go talk to One but I don’t know how to know who to trust. You could talk to five different advisers and get five different recommendations. Who do you trust? I don’t have the money to waste.
@dougwaters8895 28 күн бұрын
The timing of this video could not have been better for me… Meeting with a planner in just a few days.. thanks so much!
@kansaidan2302 28 күн бұрын
I don't know how in the world you get personalized service from a Financial Advisor or Physician. If they're busy .... you get 'form' communication, sales propaganda, and other canned material .... and BOTH probably put you on an egg timer.
@termita358 28 күн бұрын
Ask what they do with your data after the relationship is over
@davidhughes6048 29 күн бұрын
Azul, you’ve been a Financial Advisor for over 20 years?!?? 😉
@nobullshoot 29 күн бұрын
my experience with many is just give me all our money and i will dump it into market. doesn’t matter if market at top or bottom, just xfer all your money. Fidelity, Morgan stanley, it doesnt matter.
@miketheyunggod2534 28 күн бұрын
There’s only ONE thing to know before seeing a financial advisor. That one thing is he’s a crook!
@dr.michaellittle5611 28 күн бұрын
Utter nonsense.
@hanwagu9967 27 күн бұрын
@@dr.michaellittle5611 really? ask any FA to define fiduciary. 93% of them cannot meet fiduciary duties, because of both chosen and inherent conflicts of interest. AUM is a conflict of interest, because it is a commission. Sure they disclose AUM fee, but that doesn't eliminate the conflict.
Holy Schmidt!
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