The Customer Ain’t Always Right In Financial Planning

Today’s Prep:

When you see a financial advisor, do you want them to always tell you “you’re right” or do you want someone to coach your through your financial plan? Let’s talk about when the customer isn’t always right when it comes to financial planning.

(Click the featured times below to jump forward in the episode)


Equipping Points:

Even though you are the customer when you’re a client of a financial planner, the phrase “the customer’s always right” doesn’t always apply. Just like when you go to a doctor, you’re there to receive expert advice and guidance.

There are times when an advisor needs to give feedback. An advisor might ask you, “Why are you in the market?” That’s where some of the planning comes into play. The reason you turn to an advisor is for the plan and coaching, not for the transaction of moving an investment from one place to another.

When experiencing market volatility, you might think you want to pull out of the market suddenly (or go in more). An advisor is there to coach you through your decisions. They make sure your plan works for you and help you avoid making emotional decisions.

What kind of feedback and guidance are you getting from your financial advisor?

Listen to the full episode or click on the timestamps below to hear a specific segment.

[0:47] – Is the customer “always right” in financial planning?

[3:29] – When should an advisor push back?

[5:14] – Market volatility or financial trends may trigger sudden new ideas, but are they good ones?

[6:51] – Consistent coaching can help you with long-term goals.


Related Resources:

What To Do With Unexpected Extra Cash & Other Mailbag Questions

Finding Predictable Income Sources in Retirement

What’s The Difference Between These Important Financial Terms?


Today’s Takeaway:

More From Eric:

The host: Eric Peterson - Contact - Call: (515) 226-1500

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