Should you fire your financial advisor?

We are in the midst of tax season and for most of us it can be a somewhat stressful time gathering up the necessary documents needed to file. Whether we end up paying back taxes owed or we receive a welcome refund, having your taxes done correctly is essential and that often requires the skills of a certified financial advisor. Trusting another individual with your money can be hard to do and sometimes finding a credible advisor is a process. If you’re unsure about the value of their work consider these three issues and decide if it’s time to fire your financial advisor and move on to someone else.

Slow response time

Anytime you’re handling financial issues, whether it’s your taxes, your retirement, or a family member’s estate, it’s important you are confident that things are being managed carefully. If your advisor is not responding quickly enough to your calls or emails, remember there are plenty more fish in the sea and you deserve the best financial assistance out there. An incredibly slow response time could signal other problems with this advisor including disorganization, lack of empathy, or overall carelessness.

Lack proper credentials

All investors and advisors are required to be registered and licensed so check to make sure that yours is registered through proper governing authorities. If this is not done and you find out later that you invested or worked with an advisor who lacked the proper credentials, if your money is lost, there is no way to ensure you will get it back. Additionally, check out your advisor’s background and make sure they don’t have a history of disciplinary issues against them.

Condescension

It’s your advisor’s job to make sure you fully understand where you stand and what your options are at all times. If he/she talks down to you or is constantly using financial terminology that is over your head without properly explaining things, you may need to consider moving on to someone who you connect with better. Although you are their client, they should be respectful at all times and understanding of any concerns you may have. Money matters are personal and it’s important you put your trust in an advisor that you feel completely comfortable with.