Choosing a financial advisor can be a daunting task but what happens if you choose an advisor and they end up being the wrong one?
With all the economic crises of the last seven years or so, financial professionals have become more visible and scrutinized. While there are a few high-profile crooked brokers and financial advisors looking to take advantage of consumers, there are plenty of bad advisors who mean well, but still fail their clients.
Understand that advisors are not wizards, and there is no silver bullet single shot answer when it comes to financial planning. Even with products that have guaranteed interest rates, like certain annuities, there is still a level of risk involved.
There are still plenty of good financial advisors working in all sectors and markets. A good financial advisor is one that can establish programs that respond to your specific needs with limited risk exposure.
A good financial advisor shepherds your financial plan and makes you aware of potential issues. What can happen if you choose the wrong advisor?