February 12, 2009

Barrington’s Blog » 2009 » February

Barrington’s Blog » 2009 » February: "Did you know that most “financial advisors” are just sales people? Have you ever thought about why they try to sell you on their investment products or cross sell you on some other vehicle that may or may not be the best option for your life?
As we get older we must get wiser, and we must become financially responsible for our own well-being. Most Americans leave there retirement and finances up to chance by taking the advice of a so called “professional”. If you’re going to put your finances in someone else’s hand - then why not get the advice of more than one professional?
When our cars need maintenance, we take it to a mechanic for their advice on what needs to be fixed to get our car running again. But if the mechanic gives us a diagnosis or price that sounds a little peculiar to us - we go get a second opinion. Why don’t we do the same for our money? Is it because we don’t know enough about money? So we just believe anything our “advisor” tells us?
When seeking financial advice from an advisor, make sure you introduce yourself to more than one advisor - from different companies, and let them know you’re interested in setting up an appointment to discuss your finances. Then be sure to set up a time and place where you can have both advisors show up at the same time - let them be surprised when they see each other meeting on behalf of the same client (you).
Inform the advisors on why you’ve chosen to meet with both of them at the same time to discuss your finances (because you want the best advice). And let them debate amongst themselves about what options are the best for you!"