Common Complaints About Financial Advisors

Today’s Prep:

Are you feeling frustrated when it comes to your financial planning? If so, these three common financial complaints might make you feel like you aren’t alone, but also give you hope for a better scenario.

Equipping Points:

Do you have complaints when it comes to your financial plan or financial advisor? We talk through common financial complaints to learn how to fix the problem on today’s podcast. Do any of these complaints sound familiar?

Do you feel like your advisor takes too much risk? If you want growth, you will have to be in risky types of things. But what is actually needed for your plan? Risk is okay if it’s what you want, but you also want to make sure your investments are within your risk tolerance. You need to know what rate of return to have to make in order to make your plan work. Be sure to go through an assessment to show what your risk tolerance actually is.

Do the fees you are paying feel too high? Fees only come into question in the absence of value. Is the financial advisor you are working with bringing value? Remember what benefits advisors are supposed to bring. Coaching you through decisions and keeping your plan and emotions in check has been shown to raise your return overall. But it is important to work with the right advisor for you.

Finally, do you feel like you only hear from your financial advisor when they seem to be selling something? You should be meeting with your advisor at minimum, once a year. That helps you keep your financial plan updated and on track. More than that, Eric and his team communicate frequently with clients to share information about the markets with weekly emails and investment updates.

If you want to have a better experience than that of any of these three complaints, come in to get a retirement readiness review with Eric.

Listen to the entire episode or skip ahead using the timestamps below.

1:45 – “My advisor takes too much risk.”

4:35 – “My fees are too high.”

8:20 – “I only hear from them when they want something.”

Today’s Takeaway:

You need to know what rate of return you need to earn to make your plan work.

-Eric Peterson

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

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