Podcast Episode 356: When Should You Look for a New Advisor?
Are you standing at the financial crossroads, pondering whether to stay with your current financial advisor or to venture out in search of new pastures? Sometimes the grass appears greener in another pasture, but when are your concerns justified enough to make a change?
In our latest podcast, Matt Pastor, RICP® joins the show to dissect the ‘grass is greener’ syndrome that plagues many in the world of wealth management. We want to cut through the noise and offer clarity and a dose of reality to anyone who’s ever second-guessed their financial advisory relationship.
Have you ever found yourself frustrated by a mistake your advisor made, or felt neglected as their business expanded? Perhaps you’ve been charmed by the charisma of another advisor at a workshop or dinner event? These are some common situations where people will start looking around and exploring other options.
But it’s not just about whether to stay or go. We spend time on the importance of communication, especially during tumultuous market conditions. How should your advisor support you when the market takes a nosedive? We like to set expectations at the beginning of a relationship so that you aren’t caught off-guard at all. We understand that clients need us most when the market is down so we make sure we’re accessible. If your advisor goes silent, that could be a red flag moving forward.
The conversation even touches on the impact of technology on the advisor-client relationship. With the rise of Zoom and other video conferencing tools, geographical barriers are dissolving, offering new possibilities for how and where we manage our wealth.
As you navigate your own financial journey, take a moment to listen to this episode. You may find that the grass isn’t necessarily greener on the other side—it’s just a different shade of green. And sometimes, the best option is to nurture the lawn you’re already on.
Here’s some of what we discuss in this episode:
• Should you change advisors if they make a mistake that costs you money?
• What if you aren’t able to communicate directly with your advisor because they grow too big?
• How much weight should you put into dinner seminars and the impression an advisor makes?
• Conversations we have with clients who come in to meet with us about possible changes.
• If you or your advisor move to a different state, does that impact the relationship?
Information presented in our podcasts is considered current as of the created date. Over time, some information presented may become stale. We recommend you consult with your Financial Professional before making any changes based on information contained here.
Johnson Brunetti is a marketing name for the businesses of JB Capital and JN Financial.
Investment Advisory Services offered through JB Capital, LLC. Insurance Products offered through JN Financial, LLC.
The guarantees provided by any type of insurance contract are based on the claims-paying ability of the insurance company.
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