Whether it’s your money, legal counsel or even your personal trainer, many of us assume that companies who offer you a service to achieve a personal goal and claim to be your “trusted adviser,” will always put your best interest first. Well, that’s not always the case.
As investors, trusting your investment adviser is crucial - especially when it comes to your long-term wealth. According to a 2017 report by the White House’s Council of Economic Advisers, “Some investment advisors, motivated by commissions, bonuses, or other financial incentives, steer clients into products that aren’t in their best interests, resulting in roughly $17 billion in lost retirement savings per year.”
So how do you know if your prospective or current investment adviser can be trusted with your assets? A recent article from Barron’s provides insight on the importance of the investment-advisory industry’s standard of service, and what it means to you.
Remember, it’s important to find a financial advisor who puts you first. M.J. Smith & Associates is a Registered Investment Advisory firm (RIA), and we work with our clients every step of the way for long-term wealth planning. We also offer online investment-only services for those with a more modest portfolio size or more straight-forward financial needs.
If you’re interested in us reviewing your portfolio and/or discussing options to help you understand the impact of your investments, please contact us today and we’d be happy to talk with you.
This information does not purport to be a complete description of the developments referred to in this material. Links are being provided for informational purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users and/or members. The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete, it is not a statement of all available data necessary for making an investment decision, and it does not constitute a recommendation. Any opinions are those of the author and not necessarily those of Raymond James.
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