It’s your money. It’s easy to change financial advisors if you know how.
It’s estimated that as many as 25% of investors are dissatisfied with their current financial advisor. Women investors and high net worth investors are the most dissatisfied.
If you’re not sure your financial advisor is providing the service and advice you deserve, getting a second opinion about your portfolio may provide the answers you’re looking for.
Most often, it isn’t investment performance that causes client dissatisfaction. Here’s the acid test: do you feel good after you’ve had a conversation with your financial advisor of do you feel uncomfortable? Were you being heard? Were you being talked down to? Was the advisor calling you to make a sale?
Change is rarely easy. Many people don’t realize that finding another advisor and moving their account is actually easy. You don’t have to talk with your current advisor or even let them know what’s going on. Find another advisor first.
Once that’s done, your new advisor will lead you through the transfer process and show you exactly what to do. He will prepare a new account form and a transfer form. The rest is automatic. Your new advisor and his custodian – the brokerage firm that will hold your investments for safekeeping – will monitor the transfer to make sure it goes smoothly.
If you wish to send your old advisor a gracious letter after the transfer process is started, feel free, but it’s not necessary as part of the transfer process.
If you want to get a copy of our brochure that goes into more detail, please ask for more information.
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