Just because your parent trusted their financial advisor, doesn’t
mean YOU should. Many parents know no
more about finance than their kids even though we think our parents know
everything. (Or if you’re a teenager,
you think they know nothing.) You may
think your parents are in good hands with a trusted, long-term advisor. You may even inherit money from your parent
and stay with the trusted advisor. But
perhaps it’s time to find out. Is the
advisor trading daily in your account and generating commissions for
him/herself? Is he/she recommending
appropriate investments that you can hold for the long term? Are you being moved from one “load” fund to
another that generates a fee every time?
Read this article for a cautionary tale.
Larry Pike, CFA
Client Priority Financial Advisors LLCwww.clientpriority.com
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