Published: Jan. 1, 2024, 8 a.m.
In this Episode of the Secure Your Retirement Podcast, Radon and Murs discuss what you should get for the fee you\u2019re paying a financial advisor. When looking for a financial advisor, it\u2019s important to ask yourself what you\u2019re getting versus their fee.
Listen in to learn about the three major types of financial advisors and what each offers you. You will also learn about categories of our Wealth Integrated Management System: specialized investment strategy, a retirement-focused financial plan, tax strategy, estate planning, and other ever-evolving elements to cater to our clients' needs.
In this episode, find out:
- Understand that there\u2019s no better fee than another; it\u2019s all about what you want from a relationship.
- The hourly rate advisor \u2013 offers a transactional type of relationship where you get to implement their recommendations.
- An asset under management advisor \u2013 they charge you a percentage of the assets they\u2019re managing for you.
- Commission-based advisor in funds in the stock market and outside the stock market.
- Understand that with asset management, the lower the fee, the further it will be hands-off.
- The Wealth Integrated Management System \u2013 the four major categories and other ever-evolving elements.
Tweetable Quotes:
- \u201cWhat we\u2019re not saying is, this fee is better than that fee because it all comes down to what you want out of the relationship.\u201d- Radon Stancil
- \u201cThere are a few different types of advisors out there, and it\u2019s up to you to do some research and vetting and understand what it is that you\u2019re truly looking for.\u201d- Murs Tariq
- \u201cThis wealth integrated management system is continuously evolving to take care of needs that are presented to us.\u201d- Murs Tariq
Resources:
If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!
To access the course, simply visit POMWealth.net/podcast.