Hiring A Financial Advisor And Met With One Tonight....

[sfarieri]

Hi all,

My wife and I met with a financial advisor, one who gets paid by us not through commission from products he sells us. My wife and I both liked him but afterward there was a question I wanted to ask that I remembered in MJ books.

I was thinking what if this guy is someone who makes $30k a year? I don't want financial advice from a guy who really isnt making money or has a personal track record of success. That being said, what would be a good way to ask this question without being too invasive or dickish?

Thanks in advance.
With gratitude,
Sal

 

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[SC87Dominik]

I would say it depends on which aspect of the financial world you are talking about.
As someone who hasn't used a financial advisor, I would expect strictly slow lane conversations.
The advisor may have knowledge on how to make a budget, and "manage" 10k worth of investments, but probably doesn't understand how you can live the unscripted lifestyle and ruthlessly pursue a fastlane CENTS business lifestyle.

Also, no need to ask imo. Just observe and use your own judgement.

 

[biophase]

Hi all,

My wife and I met with a financial advisor, one who gets paid by us not through commission from products he sells us. My wife and I both liked him but afterward there was a question I wanted to ask that I remembered in MJ books.

I was thinking what if this guy is someone who makes $30k a year? I don't want financial advice from a guy who really isnt making money or has a personal track record of success. That being said, what would be a good way to ask this question without being too invasive or dickish?

Thanks in advance.
With gratitude,
Sal

I would ask some general questions to see what realm he is in. Is he a purely stock market guy? Is this just a guy that is going to put you in index funds? Is he going to actively pick stocks for you?

Is he going to sell you an annuity or life insurance? Is he suggesting real estate? By real estate, I mean you owning actual real estate, not buying stocks that invest in real estate. What about REITs?

What about taxes? Does he consider those?

I'd ask him what his personal retirement portfolio looks like. How old is he?

 

[sfarieri]

I would ask some general questions to see what realm he is in. Is he a purely stock market guy? Is this just a guy that is going to put you in index funds? Is he going to actively pick stocks for you?

Is he going to sell you an annuity or life insurance? Is he suggesting real estate? By real estate, I mean you owning actual real estate, not buying stocks that invest in real estate. What about REITs?

What about taxes? Does he consider those?

I'd ask him what his personal retirement portfolio looks like. How old is he?

It sounded like he was about index funds. He doesn't sell us anything since he doesnt get paid for the product.

 

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