Financial Advisor – Fiduciary 2

I’m Miriam Neff, and I’m Valerie Neff Hogan, with Wise Women Managing Money.

M Picking a financial planner, one who will be advising you is important.  Proverbs 24: 6 says in an abundance of advisors, there is victory.   Vet the list of referrals you receive. 

V We’ve stated hire only an advisor who is a fiduciary. Another way of saying this is that an advisor who is not a fiduciary may advise you to invest in an expensive product, one that pays him or her well but is not in your best interest.

V Also, it’s a mistake to hire the First Advisor You Meet. While it’s tempting to hire the advisor closest to home or one recommended by a friend, this decision requires more time. Interview at least a few advisors before picking the best match for you.

M Our second tip: do Not hire the first advisor you meet.