Important to Know Before You Move Money With Anyone


Do not, I repeat, DO NOT choose a financial advisor without first understanding what they are doing, how they are getting paid, and what fees you’ll be paying. I’ve seen WAY too many people get taken advantage of by financial advisors. It’s your money and you need to know where it’s going!



I meet with a lot of people who have been taken advantage of by previous “financial advisors”, and it grieves me to see the results of that.

When it comes to choosing a financial advisor, there are some very important questions you need to ask.

too many people are being taken advantage of by their financial advisor and its systems!

Get ready to be mad. This is a story of a gentleman who recently sat down in our offices.

A client I met with recently had a very poor experience with a financial advisor. He went to his bank, that he had been working with for years and trusted, and he was seeking input and help as he’s near retirement age. They sent him to the “bank’s financial advisor” and that person rolled his retirement funds from his 401k into an individual retirement account at the bank.

Okay, that’s normal, but he rolled them into ONE mutual fund, and that mutual fund was small-cap stocks, which are aggressive stocks.

So he moved this gentleman’s retirement out of a balanced 401k to one fund full of aggressive stocks.

100% of his retirement funds!!!

<This is the moment you start hitting the table and spitting out your coffee.>

We ask all of our new clients what their priorities are and his was SECURITY. So even in the first five minutes with this gentleman it was clear that was not at all a suitable move for what FIT HIM.

The bank clearly didn’t talk to the man about his financial priorities and they put all his money in a stock fund that wasn’t diversified and it was incredibly aggressive. He was going to see all sorts of ups and downs and in no way was he needing or prepared for that.

But then it gets worse…

To add insult to injury, the financial planner charged him an upfront 6% commission and got paid all his money upfront. Meaning, even if the gentleman leaves and goes to another place, he’s lost 6% of his retirement savings…forever.

Because of the “long-time trusted” banker’s decision 6% of his retirement savings were immediately gone!

But then (again) it gets worse…

Here’s the part that drove me THE MOST crazy. This isn’t the poor/greedy decision of just one lousy financial advisor. (Which is terrible.) The advisor had to go to his superior to get it signed off on, meaning the whole system itself allowed this to happen.

Now, I’m furious and you need to know that you have better options when making financial decisions and moving money!!!!


Do Not Trust A Financial Advisor Or Bank Until You’ve Asked The Right Questions

This is my point: DO NOT trust a bank, or a large company, or a small company, or your brother-in-law, or me, just because.

  1. You need to know the fees you’re paying.

    It is vital that you understand why you are doing what you’re doing. This doesn’t mean you have to be a financial expert, but it certainly means you need to understand what’s going on and the fees you’re being charged.

    Until you understand those things, don’t move any money! Go get a second opinion. Don’t just trust someone because it’s the bank you’ve worked with for twenty or thirty years.

  2. You need to understand how your financial advisor is getting paid.

    This varies everywhere you go! In our case, because we are one of only 8% of fiduciary-only firms in the country, we only get paid through fees. We get fees for financial planning and a flat fee for investment management; we don’t take any commissions.

  3. You need to know all your options

    You do not need to be in a position where you are losing 6% of your retirement savings for a worthless fund because it was the first recommendation.

    Listen friends, it’s your money, so make sure you know where it’s going. Ask questions. Make the decision you feel is best after you’ve weighed out expert input that you believe is less-biased on their incentive and more rooted in your success.

We Give Out Second Opinions All The Time

If you want to talk with a firm that’s very straightforward about how we advice clients, what we think is best for YOUR PLAN, and all the options on the table then sign up for a free consultation with our team and we’ll sit down and look at your account.

We love second opinions. We encourage our clients to get them. We’re very confident in our business model and our advice and would love you to test other financial planners so you’re just as confident in your decision too.

Listen friends, I’m going to say this again so you hear it: it’s your money, so make sure you know where it’s going.



When do you find you’re most confident when making big decisions?

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