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

Are you maximizing your investments and your relationship with your financial team? What do you define as your financial team? We talk through how to make smart decisions when it comes to the people you work with regarding your finances.

Show Notes

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.

What is Making Smart Decisions with Josh Tirado?

Strategies for your financial future. Complex topics made simple and actionable, so when it comes to your money, you're making smart decisions.

The following program is sponsored by JT Financial Group which is solely responsible for its content. Securities offered through J.W. Cole Financial, Inc. (JWC) Member FINRA/SIPC. Advisory Services offered through J.W. Cole Advisors, Inc. (JWCA)JT Financial Group and JWC/ JWCA are unaffiliated entities.

Josh Tirado: 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 more than half of my current
clients when they came to me, said to

me, oh, I already work with someone.

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, maybe 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 sort of financial professional
in some sort of 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 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 sort of 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.

Maybe their grass is
always greener people.

Maybe they just want to be really
well-educated to make the smartest

decisions they can and that's all
well and good, but just know that

a vast majority of people who work
with advisers already came from

someone else already had an advisor.

You either needed something
more from that relationship.

And you wanted someone who was a
true 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, helping people to

understand where am I going from,
where I am, how do I get there?

And 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
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.

You need 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.

Maybe they were a commissioned person.

They were a sales person, 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 had a disagreement, or you
just felt you need a different.

You're comfortable working with
an advisor, you see the benefits.

You just 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 magazine, a financial magazine
for my industry, they've started a

section an article in the front of
the magazine every single month.

And it discusses my life as a.

And they interview different people that
are 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, maybe they still had positive
returns on the investments with the

people, but the relationship and the
service wasn't there, something happened.

And most of these stories involve
those people saying, I know I need

a professional, but I needed to
move to a different professional.

So they were the right fit for.

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, the grass is always greener.

This is seriously.

I really think I could be doing something
better or having a better experience.

I know I should talked to somebody.

I should have speak 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 off with a 20
minute meeting where we discuss

what they're looking to get of the
relationship and what my company offers,

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.