Jason offered insight to U.S. News & World Report for an article discussing 10 things your financial advisor should never tell you. Is it possible you’re getting bad financial advice?
U.S. News & World Report recently published an article going over 10 things your financial advisor should not tell you. With more than 20 years of experience, our own Jason Noble has visited with plenty of clients who have been given bad advice from previous advisors.
You should and deserve to have a trusting relationship with your financial advisor, and when that trust is broken, it can be difficult to recover. Luckily, Jason knows some of the most common things you might hear from an advisor who doesn’t have your best interests in mind, and he can help you identify signs that it’s time to cut ties.
First, if your advisor tells you that something is “recession-proof,” you may want to ask further questions. If it sounds too good to be true, it just might be, and no investments or products are truly risk-free.
“There are always pros and cons to every investment and every investment strategy,” says Jason. “If the advisor does not take time to explain both the pros and cons of their recommendation, this is a red flag.”
Some other warning signs include your advisor telling you that you’ll get a higher return by transferring all your assets over to them, showing reluctance to share details on fees, or displaying apathy toward your losses. It’s also generally a bad sign if they don’t include you in the planning process, they don’t actively manage your funds, or they make guarantees that sound like pipe dreams.
Money is personal, and one piece of bad advice has the potential to set your retirement back by years. At PCIA Charleston, we customize your plan and align our goals with yours to give you honest pointers and helpful feedback, all while including you in the process. We don’t operate that way because it’s easy. We do it because it’s the right thing to do.
For more information about things you should never hear from your financial advisor, you can read the entire article on U.S. News & World Report.
If you have any questions about financial advice you’ve received or finding the right path toward retirement, call Jason Noble and PCIA Charleston at (843) 743-2926.
Advisory products and services offered by Investment Adviser Representatives through Prime Capital Investment Advisors, LLC (“PCIA”), a federally registered investment adviser. PCIA: 6201 College Blvd. Suite #150, Overland Park, KS 66211. PCIA doing business as Prime Capital Wealth Management (“PCWM”) and Qualified Plan Advisors (“QPA”).