Have you worked with your advisor to develop a financial plan to answer all these questions?
Your advisor will suggest three one-hour time slots for the conference, based on your preferences.
When it comes to your advisor serviced brokerage accounts, the system is set up to reward the advisor, not you.
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Talk with your advisor and tax professional to see how you can better manage the impact of the 2013 tax changes.
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Finding out clearly what side of the table your advisor sits on is definitely an important one if not the most important.
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The message from the markets: call your advisor and re-balance your portfolio.
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Take steps to understand how your advisor gets paid, says Ms. Leitz.
Coupled with that, you should know when NOT to fire your advisor.
Sit down and talk with your advisor before making any rash decisions.
Nuances of compensation plans and pay packages are shifting on what seems a daily basis requiring constant fine-tuning of your long-term plan with your advisor.
As always, consult your advisor about managing risk in your investments.
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This goes along with rebuilding confidence and while it may annoy your advisor, sometimes detours may provide valuable insight on why everything else is going poorly.
If your advisor veers from the path the statement lays out, or if the goals outlined are seldom realized, it may be time to part ways.
Your advisor might encourage you to examine your conscience to make sure that you have a desire to benefit the other party, since donative intent is a requirement.
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The first step, therefore, is to prioritize, and while your internal compass should be your primary guide, your advisor can and should help with this process as well.
Connect with your advisor for your video or phone conference.
If your advisor will not sign the oath you may well have the wrong advisor or the advisor works at a firm that does not have you best interest at heart.
Depending on your advisor type, there are different expectations.
Also, if your advisor gives you consistently bad advice, such as causing you to lose money over long periods unrelated to a market rout, or putting you into dubious investments, a change may be warranted.
If you work with independent investors or brokers, your investments are housed at a large brokerage house where you should be able to verify your investment holdings independently of statements your advisor issues to you.
If you, or your advisor, or the portfolio managers your advisors select for their client, can keep your eye on that ball, it will inform your decision about the stock market and your portfolio at large.
As the New Year begins, this is an opportune time to contact your advisor and schedule a time to discuss your account(s), personal information and any changes that may have occurred to your time horizon and investment objectives.
Does your advisor share your values?
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First, the paradigm of advice is shifting where your advisor used to be a gatekeeper to specialized products and services, to one where the best products in the world are available to any investor, no matter the amount of their portfolio.
Again, you should speak with your tax advisor about your specific situation.
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However, before you make any changes to your retirement account, I always recommend checking with your financial advisor and your tax professional.
Your financial advisor can be your financial coach therefore you want to communicate with her at least twice a year to ensure that you keep in touch with your investments.
Work with your tax advisor to determine ways to reduce your adjusted gross income in 2013.
Absent that, I think your financial advisor might offer some different suggestions based on your view of the future for stocks and your financial condition and future obligations.
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Nothing in this article should be construed as investment advice regarding any particular investments for any particular individual circumstance and you should consult with your own financial advisor regarding your personal situation.
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