1. advisorHas your advisor established a fiduciary relationship with you? A CERTIFIED FINANCIAL PLANNER™ is a professional that follows a fiduciary standard to their clients, as defined by the CFP Board. This responsibility holds them to a higher standard of ethical behavior. In this regard, a CERTIFIED FINANCIAL PLANNER™ will look for specific factors when investing to ensure your investments are well managed and in the best interest of the client. These factors include:


  • Allocating assets based on desired based on the client’s needs and goals
  • Identifying sources of risk and initiate a strategy to manage exposure
  • Managing financial and other risks associated with both business and personal assets by ensuring a diversified portfolio
  • Minimize tax liability associated with individual and business investments

  1. How is your advisor getting paid? In respect to the fiduciary standard, the advisor should be transparent in the fees assessed to you as a client. You may be paying a fee to your advisor and also a fee to the underlying investment.

Together these multiple costs add up and can eat away at your wealth accumulation. Make sure to talk to your advisor to see what fee-plan they utilize to determine if it is the best plan for you.

  1. What level of customization are you getting promised? Due to the amount of investments and market changes to keep track off, no advisor can react fast enough to manage multiple portfolios and make changes instantaneously. However, a semi-customizable portfolio is manageable and it’s based on income and growth models tailored to your needs. This gives your advisor adequate time to monitor the market, communicate any changes with you as needed, and work at a high level to ensure you are receiving the most competent and compelling advice possible.

If you have any questions about the roles and responsibilities of an advisor, please call Mooney Lyons at 1-847-382-2600, or visit us at mooneylyons.com. All of our associates are here to help ease the complexity and reduce the anxiety in retirement planning.

There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk. No strategy assures success or protects against loss.

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