I already have an advisor, I'm all set. Right?

Making Smart Decisions with Josh Tirado

Josh Tirado: [00:00:00] welcome to the making smart decisions podcast. I am your host, Josh Tirado. And for today, we're going to be discussing the concept of: I already have a broker. I already have an advisor. I already have a financial coach. I'm all set. Congratulations. Truth be told [00:01:00] more than half of my current clients said to me, oh, I already work with someone when they came to me.

Okay. I appreciate that. If you come to me and we work together later in life, chances are you have some. Now that's a broad category. Some people refer to the person that sold the life insurance 20 years ago, or the person that set the Roth IRA 15 years ago, and some mutual funds they never heard from, again, as their person, some people have a broker who calls them.

Maybe they have a little bit of money invested, or they're doing some fun stock picks, but they have somebody, perhaps it's a brother-in-law who's in the business and, or a sister-in-law, they run ideas. They have our questions, pass them from. If you are successful and ever reached a certain age, chances are, you've worked with some financial professional in some capacity, someone referred you in, you met somebody, somebody and you have someone, you have an advisor, you have a broker, you have someone who does something like along those lines. But what I always find interesting is the [00:02:00] clients first, and they tell me. But we're having a discussion already about what they're doing.

So there must be something lacking, or some question in the back of their mind sums for interests that they're willing to talk to me about it. Maybe they think they're missing out. Perhaps their grass is always greener, people. Maybe they just want to be well-educated to make the smartest decisions they can, and that's all well and good, but know that a vast majority of people who work with advisers already came from someone else who had an advisor.

You either needed something more from that relationship. And you wanted someone who was a trustworthy advisor, who did planning with you, who had a holistic approach, who put together all your needs. I heard someone a long time ago. Their favorite phrase was. We help clients crystallize their objectives. And that's a great way of putting it, allowing people to understand where am I am going from, where I am, how do I get there?

And I am then putting that together. It's not the. I have this great investment. It might be a great investment, but it's a great free view. Does it help you accomplish your goals [00:03:00], or is it better for Susie down the street to help her reach her goals? Is it a great investment, but it's designed for someone who's 30, and you're 60, or someone who's 80.

And you're 52. It would be best if you had something specific for you. So people come to me and say, Hey, I've worked with somebody, but maybe we don't have an ongoing relationship. Perhaps they were a commissioned person. They were a salesperson, or I haven't spoken to them in a while, and they're looking for something more.

That's why we worked together. Also, maybe you've worked with an advisor for a long time. That person has retired. That person has passed. You disagreed, or you just felt you needed a different. You're comfortable working with an advisor. You see the benefits. You want to find someone or a company to work with that fits in better with your set of values, your personality, and that you can work with.

There's a financial magazine for my industry, they've started a section an article in the front of the magazine every month. And it discusses my life as a., And they [00:04:00] interview different clients, advisors, and different walks of life, all over the country and the people that relay their experiences.

Sadly, the majority of the articles that people are relaying a negative experience may have positive returns on the investments with the people. Still, the relationship and the service weren't there. Something happened. And most of these stories involve those people saying, I know I need a professional. Still, I needed to move to a different professional.

So they were the right fit. That happens time and time again. So if you already have somebody that's terrific, if they are not providing for all of your needs and you think there might be, and this isn't being worried about, the grass is always greener. This is seriously. I think I could be doing something better or having a better experience.

I know I should talk to somebody. I should have spoken with me now. I have my specialties. If you're not a good fit, I'll refer you to somebody else if you are. Terrific. We'll talk through that. Every client starts with a 20-minute meeting where we discuss what they're looking to get off the relationship and what my company offers, [00:05:00] and we call it the right fit meeting.

Cause we're looking to see, are we a good fit? Should we move on together, or are we not? That's very important that meeting is like the equivalent of the dating stage, where you figure out if the two you're a good fit and whether you should pursue a relationship or not. So just because you have a broker or an advisor or somebody, that's awesome, but make sure it's the right relationship for you, that you're getting the most out of it that you possibly can.

Thank you, and go forth and make some smart decisions.