MarketWatch: “7 red flags that signal it may be time to dump your financial adviser”
MarketWatch, Feb. 2, 2022 — Marguerita Cheng, CFP® Pro, is featured in today’s MarketWatch article by Jennifer Booton, who writes:
“In these trying financial times, more Americans are leaning on financial advisers for money advice. While in 2020, 22% of Americans said a financial adviser was their most trusted source of financial advice, in 2021, 26% said that, according to a survey of American adults from Northwestern Mutual. But, of course, some financial advisers are better than others. So we asked five pros to identify red flags that should give you pause when looking for a financial adviser to guide you toward your goals. If you see any of these seven signs, it might be time to dump your current advisor for a new one.”
How will you know if you have outgrown each other?
“It may be time to leave if you feel that your needs have outgrown what your financial advisor is able to provide,” says Marguerita, who is a CFP Board Ambassador and CEO of Blue Ocean Global Wealth. “For example, your advisor may be focusing on portfolio management, but you want guidance on equity compensation, college strategies or Social Security claiming strategies.”