News of greed and misdeeds in the financial services field has caused investors to be skeptical. They may suspect a conflict of interest everywhere. Trust takes time to build and it is easy to break. Whether you are evaluating financial advice or seeking an advisor to collaborate with you in developing your own financial plan, look for:

  • An Independent Voice – one that provides objective and unbiased advice. It is unlikely that you will find this advice from an “advisor” pushing a particular product or service. What types of relevant experience back up the advisor’s statements? Do they seem informed or ill-informed? The right type of experience can indicate competence. As a team, we have helped create countless financial plans for clients and assisted in their implementation.
  • A Fiduciary Standard – This means that the advisor acts always in the best interest of their clients – they have an obligation to act in away that best meets each client’s needs. Most large financial services firms offer investments which are deemed “suitable for you” yet they may not always be in your best interest.
  • No Mystery about Fees – A study by the University of Pennsylvania’s Wharton School and State Street Global Advisors focuses on improving client relationships. This study makes the connection between coming across as trustworthy and being direct and explicit in your discussion of fees. Is there a full disclosure of costs?
  • Keeps Commitments to Clients and Prospects – Trustworthiness can be found in the individual or firm that cares enough to show concern for clients by keeping all commitments.

Women need to find their own trusted advisor who works in their best interests – one they feel comfortable with – or decide to master the important nuances of financial planning and investment on their own.

 

Are you ready to create a plan for living the life you’ve always dreamed about?  Contact us today to schedule your complimentary discovery meeting. 

Your Guide to Financial Independence

Rick Epple, CFP(r)