For years I’ve witnessed how we give too much of our power away when we visit our Doctor’s office. Instead of asking why they recommend we do x or y, we blithely follow whatever recommendation is made. After all, they’re the one with MD next to their name, so who are we to question their instructions?
A couple weeks ago, a client in Oakland emailed me an article from Money Magazine titled: 4 Disastrous Retirement Mistakes and How to Avoid Them.
The premise of this must read article for anyone getting close to retirement and wanting to rollover their IRA is to see past the hype being touting by many a financial salesperson masquerading as an advisor, but really only concerned with their commission payout and not your financial wellness and security.
The following definition of ‘fiduciary’ is taken from the Center for Fiduciary Studies, fi360 website:
When it comes to professional investment or financial planning advice, clients want to work with someone who is both competent and committed to serving their best interests, someone that honors and values integrity as a core belief. In short, they want someone they can trust. They want a fiduciary.
Maybe you’ve just received an inheritance, or you’ve decided to get your financial house in order by developing a comprehensive financial plan, or you’re preparing for retirement and you’re seeking the guidance of financial planner. Whatever the reason for contacting me, I often get asked the same questions: