Fiduciary
Hi Terry,
If I go to a Fiduciary for advice about my assets/retirement, do they then manage my accounts or just give me a one time advice about how to invest my assets? Currently I have a wealth management advisor but starting to think its not in my best interest.
Terry Says
A fee-only fiduciary (such as the ones you would find at Wealthramp.com) would offer a range of services, depending on your needs.
Is your “wealth management advisor” just a stockbroker who gets paid on commissions, or a flat fee based on how much money you have with the firm? How “smart” is he/she — and are they paying attention to you?
A fee-only fiduciary will look at your entire financial picture — taxes, estate planning, retiremetn spending needs, etc. And they will give investment advice on an ongoing basis. The first meeting should explain their services, and their fees — and then you can decide how much help you need, and for how long.
