wealth advisor

Is this the right time to change your wealth advisor

We are living in strange times. The pandemic has had a myriad of effects on us including increased anxiety, deprivation of meaningful connections, changes in relationships, and upheaval in the workplace. Some of us have been laid off from jobs we’ve spent decades at while others have seen businesses they’ve put their heart and soul into flounder and finally close down. If you’re one of the millions of Americans who have recently experienced a change at work, it can sometimes be a trigger to make other changes in your life. This could be the perfect time to switch careers, launch an endeavor as a solopreneur, or make that move to another state (or country.) It can also be the perfect time to change your financial advisor.

Types of Work Changes

Getting laid off and changing careers are not the only types of job changes that people are experiencing lately. There’s also the shift to meeting with clients or customers virtually, adapting to social distancing in the workplace, or working from home (and all the challenges that go hand-in-hand with that switch.) Even if the change seems like a positive one, it can still throw you off your game as it will likely have an impact on your schedule, finances, and your habits.

Why is Now the Perfect Time to Change?

This is a turbulent time for many different reasons, and it’s extremely common for those who have hefty investments to be uneasy. If you want to stay calm during turbulent times like these, it’s essential to have an advisor who gives you peace of mind. This holds especially true if your career change involves a disruption in finances. If you’ve been laid off, you might need to roll over a 401(k) or deal with a large severance package. If you’re launching a new gig, you may need to look at an SBA loan or cashing out some of your investment and wealth management. Even if your change doesn’t necessitate the moving of money, it’s still a good time for someone to look at the big picture regarding your finances and help you optimize what you have.

Why Consider a Fiduciary?

If you’re working with a financial advisory who sells products on commission, the time has come for you to make a change to a fiduciary. Unlike a commissioned advisor whose salary is dependent on what they sell you, a fiduciary is one who is obligated to put your best interests ahead of their own. Most of the time, a fiduciary is paid on a fee-based schedule rather than a commissioned one. Why? Because it’s pretty difficult to stay objective and put your clients’ best interests first when your paycheck depends on selling them as much as possible. When you work with a fee-based fiduciary, there is no conflict of interest. Both you and your advisor are trying to do the best things for your financial future.

Change is inevitable, especially in today’s environment. Though there will always be plenty for you to worry about when change occurs, your financial future doesn’t have to be one of them. When you work with a fiduciary, you’ll have peace of mind that your finances are in the hands of someone who will always put you first.

We are living in strange times. The pandemic has had a myriad of effects on us including increased anxiety, deprivation of meaningful connections, changes in relationships, and upheaval in the workplace. Some of us have been laid off from jobs we’ve spent decades at while others have seen businesses they’ve put their heart and soul into flounder and finally close down. If you’re one of the millions of Americans who have recently experienced a change at work, it can sometimes be a trigger to make other changes in your life. This could be the perfect time to switch careers, launch an endeavor as a solopreneur, or make that move to another state (or country.) It can also be the perfect time to change your financial advisor.

Types of Work Changes

Getting laid off and changing careers are not the only types of job changes that people are experiencing lately. There’s also the shift to meeting with clients or customers virtually, adapting to social distancing in the workplace, or working from home (and all the challenges that go hand-in-hand with that switch.) Even if the change seems like a positive one, it can still throw you off your game as it will likely have an impact on your schedule, finances, and your habits.

Why is Now the Perfect Time to Change?

This is a turbulent time for many different reasons, and it’s extremely common for those who have hefty investments to be uneasy. If you want to stay calm during turbulent times like these, it’s essential to have an advisor who gives you peace of mind. This holds especially true if your career change involves a disruption in finances. If you’ve been laid off, you might need to roll over a 401(k) or deal with a large severance package. If you’re launching a new gig, you may need to look at an SBA loan or cashing out some of your investment and wealth management. Even if your change doesn’t necessitate the moving of money, it’s still a good time for someone to look at the big picture regarding your finances and help you optimize what you have.

Why Consider a Fiduciary?

If you’re working with a financial advisory who sells products on commission, the time has come for you to make a change to a fiduciary. Unlike a commissioned advisor whose salary is dependent on what they sell you, a fiduciary is one who is obligated to put your best interests ahead of their own. Most of the time, a fiduciary is paid on a fee-based schedule rather than a commissioned one.

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