When it comes to wealth management, you probably already know that it's easier when you work with financial professionals. You may already be working with an advisor or a wealth management team. You may even like your current advisor(s)! Perhaps you engage in social activities together, such as golf or tennis. You might share charitable priorities, and you may also know each other's families. Wealth management is personal. But at the end of the day, business is business. That is why you need to consider whether your wealth management team or financial advisor is doing all that they can to put you on the right financial path. After all, this is your hard-earned money, your family, your future, and your self-preservation at stake.
It may be difficult to separate the personal from the business in a wealth management relationship, but think about it for a moment like any other service or job. For example, you really may like the individuals who service your car, but you still rightfully expect quality service at a fair price and a job done right. If you did not feel you were receiving quality services, if you thought you were over-charged, or if your car was not running as it should, you would certainly start to look around for better options. The same goes for a financial advisor, no matter how close your relationship may be. At the end of the day, your advisor works for you, and you deserve the best job possible.
For starters, you must have a solid understanding of what your financial advisor or team should be doing for you. Here are a few of the core services you should expect from your advisor or wealth management team.
If you are unhappy with the service or attention, or if you aren't seeing progress toward pursuing your goals, it may be time to consider changing your financial advisor. Here are some steps you need to take if you are considering a change in your financial advisor or wealth management team.
Wealth management is about securing your assets and your future. While change can be difficult, it is may also be a necessity for ensuring you're on the best financial path. At Hapanowicz & Associates, we can help you assess your current situation, make recommendations on what you should expect from your financial advisors, and serve as your trusted guide through the process.
Please feel free to reach out to me directly to confidentially discuss any questions or concerns you might have about making changes to your existing wealth management team. I can be reached by email at reh@hapanowicz-associates.com.