Have you ever felt that the relation between you and your financial advisor is turning out to be a horrifying story moreover? Do you get the instincts of being cheated by them and feel helpless for not being able to take your stand?
If this is you, then it is better to be safe than sorry and consider making a switch to pick on a new wealth manager for managing your finances.
Read on to get to know a few reasons that may force you to switch on to another financial advisor to save oneself from being ghosted:
A weak portfolio
Underperforming portfolios are not going to be of any help if you have some other plans to go by. Thus if your financial advisor has designed your portfolio claiming all the good things to happen as per your retirement plans and expected lifestyle but fails to prove it right. It is high time that you consider switching to a new financial advisor.
A bad listener
You may be a thorough layman in planning your finances, and that’s the reason why you panned an advisor, right? But what if your advisor doesn’t listen to you? There can be different concerns and questions, hitting the minds of a person who has handed over his/her finance management to their advisor.
But if they fail to give you explanations and seek a hideout without giving ears to hear you out, calling the association quits is one of the best things that you can do.
Resistance to change
Life situations are prone to change, and you may face metamorphosis at any phase of life, and so are your finances. What you may have thought today to work wonders for you may not work the same tomorrow.
There is always a scope for change owing to the financial conditions of the person planning to invest. Adhering to this fact, your financial advisor must have a notion to adapt to changes as suggested by the person who is hiring their services.
And, if this is not the case, it is a good reason to switch on to hire the services of some other financial advisor who can adapt to your plans and chalk out a schedule accordingly.
There are a few financial advisors who have a crystal clear approach in their way of charging fees. But there are also some who charge you fees for managing your finances and also impose some hidden charges that you may not even be aware of.
So if this is your case, then you have to keep an eye on any such behind the bushes money drain and consider switching on to seek the services of another financial advisor who has a better platform for charging fees.
Doubts and clashes
When you pass on a grin when your advisor lays down something unusual on your table for you to invest that sounds weird, it may be a warning signal for you to hang up your boots.
If their ideas and plans let you raise your brows and make you think that something fishy is going on, there are chances that you may face clashes and have a dubious mind. Parting ways and moving ahead to shake hands with someone else can be a better way out.
These were a few reasons which may give you a green card to build associations with new people who can help you manage your funds without ghosting you. All you need to do is show some courtesy by informing the same to the previous advisor and moving ahead for some better handshake to save yourself from narrating the ‘being duped’ stories.
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