We recently conducted a survey on LinkedIn about what holds people back from seeking professional #investment advice, and three themes emerged. Myth #1 — I don’t know who to trust.
"#Trust is the most valuable currency on the planet. And it’s something you can’t buy. You have to earn it."
This is a valid concern. I don’t blame you, and you are smart to be skeptical.
The primary way most #financialadvisors make money is by selling you on the idea that investing is complex and only they know how to do it. They speak with industry jargon about mutual funds, alternatives, ETFs, IRAs, volatility, EPS, beta, alpha - I can go on and on. When someone starts talking about how much money they manage and how impressed you should be with the firm’s risk-adjusted low vol returns, you can quickly feel overwhelmed and uninformed.
But, investing isn’t complex; they just want you to think it is so you will hire them to help you understand Wall Street, which is really the maze that is the street of walls.
More importantly, don’t pick an advisor who doesn’t listen to you or take the time to ask smart questions and really understand your long-term goals and where you’d like to be in 5 years.
Imagine you are a hitchhiker and someone stops to pick you up, but never asks where you are going. They just start talking about the company’s mission statement or the history of when they bought the car. You don’t care, and none of that is relevant. All you want to do is take amazing family vacations without financial stress.
Feel free to email me at Tiffany@wealthengagement.com if you have an idea where you would like to go but are not sure how to get there.
CERTIFIED FINANCIAL PLANNER ™
Wealth Engagement LLC
An Independent Registered Investment Advisor (RIA)
3715 Northside Parkway Bldg 100, Ste 500
Atlanta, GA 30327