It’s good to see US News is offering some sage advice about when to shop for a financial advisor. Whether you already have a relationship with a wealth manager or financial planner, or it’s something just lingering in the back of your mind, the most important consideration is finding the right person or team of experts. This article makes a great point that the best possible time to go searching for an advisor is when you don’t need one.
I like to say— I’d much rather know how far I live from the fire station before my house is burning down. The best possible time to look for ongoing financial advice is when things are boring because once the market is making headlines, chances are that your emotions will hijack your good judgement. If you are choosing an advisor out of fear or out of FOMO, (the fear of missing out on some big investment opportunity), you’re likely to skip the step of doing the due diligence necessary to truly vet the advisor you’re considering.
I’m really happy I was interviewed for this article because I see firsthand how people react when the market’s losing value and they suddenly think: “I need some help”.
You can always reach out to me if you have any questions about our advisor vetting process.