The #1 Mistake People Make When They Use a Financial Advisor

  • katma 2 May 2018
  • The #1 Mistake People Make When They Use a Financial Advisor
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  • Nicely done by Alexander Liam hacks on Insta

    It is believed that very few people are sympathetic, but you are not just sympathetic, you are also empathetic. I thank you Alexander for your help. I really appreciate it.


    It’s difficult trusting people when we don’t trust ourselves. Your kind of person makes me realize people of exceptional/ irrational thinking like you can still be trusted. Thanks for bringing out the best in me when all hope was lost. I really appreciate this loan Alexander.

  • James Thomas

    another HUGE mistake: Not asking if they are a fiduciary. Fiduciaries are legally required to act in your best interest, financial advisors aren't. Not all "smartvestor pros" are fiduciaries!

  • James Hush
    James Hush Yıl önce +104

    I’m a software engineer. Every engineer should listen to Dave right now. It’s YOUR job to convince your boss to put time/money in a project. If they say no it’s YOUR fault for not explaining correctly. Ever since I adopted this attitude my career has excelled.

  • Mary Fields
    Mary Fields 2 yıl önce +166

    40 years ago, when I was a new driver, and had to buy my own car insurance, my dad's insurance guy spent a solid hour teaching me about the ins-and-outs of auto insurance in language I could understand. He retired years ago, but I'm still buying my insurance from the company he worked for. I'll never forget how patient he was.

  • Legitimate lender ALEXANDER LIAM HACKS on Instagram

    It is with a deep sense of gratitude that I write to thank you for your generous help. I am not well-funded, and your financial gift will make a huge difference in the work that i can do in the future. The fact that there are people like you out there makes my job, even more, vital and gives me new energy to succeed.

  • Alexander Liam hacks on IG The best agent

    I am highly obliged to you for lending me a huge sum of money, needed this amount for my new Flower business thanks so much Alexander. I am thankful to you that you arranged the amount in such a short span of time. It was really great to help.

  • J M M Barkovich
    J M M Barkovich 2 yıl önce +94

    I work in the investment industry, and the advisor with whom I work is most interested in educating potential clients, building relationships and learning potential clients' goals for investing. Our clients make us humble, our job is to serve our clients and celebrate their success.


    I have never experienced kindness and help like you displayed Alexander. It's difficult to believe that anyone can could be as nice as you are to someone like me. God bless you

  • Legitimate lender ALEXANDER LIAM HACKS on Instagram

    Words do not seem enough to say how much i appreciate your support ALEXANDER , both regarding words and money. As such, please find enclosed a small token of my appreciation, I hope that it makes you smile and know that I am grateful for all that you have done. I appreciate your donation and continued support.

  • D D
    D D  +228

    There should be a basic financial class in high school that everyone must take.

  • All credits to ALEXANDER LIAM HACKS on IG

    Sometimes, I ponder on how I was still able to get a helpful friend like you. Your amazing heart and caring soul make you extra-ordinarily different. Thank you so much Alexander for your support during this difficult time

  • Alaa "Alex" Khassa

    Dropping truth bombs, like always. A lot of people need to remember that it's THEIR money. The advisor is a tool and a facilitator to help you achieve your financial goals! 👍👍

  • Cra2yFac3
    Cra2yFac3 Yıl önce +14

    As a Financial Advisor, I approach every client with the mindset of a steward of their money and trust. I do a great deal of due diligence on the front end of each relationship to ensure that the partnership between me and the client is a good fit. I’d rather lose an account that take on the risk that comes from a bad fit.

  • Tristan B
    Tristan B 2 yıl önce +6

    As a student in a financial planning program about it enter the work force, I have seen the kind of planners Dave mentioned and I avoid those firms like the plague when it comes to a career field. But the industry is moving towards a customer first mindset with the CFP fiduciary standards being set that want to teach financial literacy to their clients and help them know what is going on. I hate the name financial advisors have now because the people who have hurt our image by being so focused on sales and thinking they knew what they were doing because they went through a training program at an insurance brokerage place with the name “financial planning” as a cover up to get into people’s wallets....

  • ImaITman
    ImaITman 3 yıl önce +2

    I love that Dave used technology as an example. I've only been in the IT business for 10 years or so, but if you like IT and you have the heart of a teacher then PLEASE go into IT. Having the heart of a teacher is something so hard to find in this industry and I realized quite early that it set me apart from my peers. I'm not the smartest guy in the room, and won't always have the answer but man it will set you apart like no other in this field. Being able to bridge the information gap between IT and the business guys is HUGE.

  • Donavyn Olvera
    Donavyn Olvera Yıl önce +18

    I'm in training to be an FA, and this is the best advice I've ever heard. And definitely something I'll embrace with my clients. THEIR MONEY!! THEIR PRIDE!! Make it easy for them and walk them thru the process and did I say make it easy? MAKE IT EASY!!!

  • trwsandford
    trwsandford 2 yıl önce +445

    Rule #1, only invest in things you understand.

  • Edgar Sanchez

    Thank you! That is amazing advice and very refreshing to hear this. You are right we should not go in ashamed or embarrassed it’s our money and we work very hard for it and they have to earn our trust and be able to show us what they can do with our savings and be able to teach us and if they don’t do that then it is not the right fit for us. Thank you!

  • Apple Xiao
    Apple Xiao Yıl önce +3

    Man, I love you, the information you provided, they way you talked about it and the personality you presented! Thank you sir!