Let’s face it. There is no shortage of financial advice. It seems everywhere you turn there is another financial expert. The newspapers, magazines, television and internet are filled with financial advice. Unfortunately, most of it is garbage dangerous half-truths.
How do you sort quality financial advice from dangerous half-truths? How do you separate fact from fiction? That is the subject of a new article I just published titled How To Find Financial Advice You Can Trust. In this article I provide 12 questions that will help you separate legitimate mentors from false prophets:
- Is the financial advisor already doing exactly what he advises you to do?
- Is the advisor still “walking the talk” or is he just “marketing the talk”?
- Will the advisor provide actual proof that his financial advice works?
- What is the advisor’s background, education, training, skills, and experience?
- Has the financial advice been successfully tested through multiple market cycles?
- Does the advisor disclose both the positive and negative?
- Does the financial advice oversimplify an inherently complex subject in an effort to make a sale?
- Is the financial advice factual, or is it merely opinion?
- Does the financial advisor provide a complete strategy or a half-truth?
- Is risk management the primary focus or just an after-thought?
- How is the financial advisor compensated and what conflicts of interest exist?
- Is the financial advice generic or custom designed to fit your specific needs?
When you find financial advice that can pass these 12 questions then you have discovered the gold-standard in financial advice. To learn more read the full article here.
Oh, and by the way, I would be remiss if I didn’t point out that my financial coaching services pass these 12 questions with flying colors. Maybe it is time for you to consider a financial coach…
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