How do I know if my advisor is still right for me?

“EVO was our fourth attempt at finding a financial advisor. With our first, I found that she didn’t listen to us. I would call and she would talk to down to me and make me feel bad. EVO never passed judgment on our lives or our money.”

– Mary, CERTIFIED REGISTERED NURSE ANESTHETIST, PHD,
Client since 2011

Are you starting to feel deep in your gut that your current advisor isn’t really doing all that you need?

Not all advisors are created equal.

Imagine if over 60 percent of people didn’t trust their family doctor or accountant. That’s how it is in the financial planning world.

“Just 35 percent of retail investors polled by the CFA Institute last year said they thought their advisors placed clients’ interests before their own.”

— Financial Planning Magazine

So what’s the difference? There are several types of financial planners. Now is the time to evaluate what you need versus what your broker provides, and beyond that trust your instincts.

Ask the right questions.

“People ask tougher questions of their cable providers than they do of their financial advisors. It’s crazy.”

— Geof Brown, CEO of the National Association of Personal Financial Advisors “on on” our podcast

1. Financial planners provide a range of services so it’s vital to match your needs with the services provided. Do you offer advice on?

  • Goal setting EVOadvisers
  • Estate planning EVOadvisers
  • Cash management & budgeting EVOadvisers
  • Insurance needs EVOadvisers
  • Tax planning EVOadvisers
  • Education funding Investment review & planning EVOadvisers
  • Retirement planning EVOadvisers
  • Other: ____________________________

2. Do you provide an analysis of my unique financial situation and offer specific recommendations?

EVOadvisers: Yes

3. Do you offer assistance implementing the plan?

EVOadvisers: Yes

4. Do you offer continuous, ongoing advice about my financial affairs, including advice on non-investment related financial issues?

EVOadvisers: Yes

5. How long have you been offering financial planning services?

EVOadvisers: Since 2006

6. How is your firm compensated and how is compensation calculated?

EVOadvisers: We are flat Fee-Only

Financial planning costs include what a client pays in fees and commissions. Comparison between advisors requires full information about potential total costs.

Fee-Only (as calculated below):
or
Rate of $______/hour
or
Flat fee (Range and Explanation)________________
or
Percentage_______% to_______% of____________ (AUM, Net worth, etc.)

OR Commissions only;
From securities, insurance, and/or other products that clients buy from a firm.

OR Commission and Fee:
Fee offset (charging a flat fee against which commissions are offset). If the commissions exceed the fee, is the balance credited?

7. Are there financial incentives for you to recommend certain financial products?

EVOadvisers: No, we do not accept commissions

8. Have you ever been cited by a professional or regulatory governing body for disciplinary reasons?

EVOadvisers: No

9. Will you sign a Fiduciary Oath?

EVOadvisers: Yes, happily.

Fiduciary Oath:

The advisor shall exercise his/her best efforts to act in good faith and in the best interests of the client. The advisor shall provide written disclosure to the client prior to the engagement of the advisor, and thereafter throughout the term of the engagement, of any conflicts of interest, which will or reasonably may compromise the impartiality or independence of the advisor.

The advisor, or any party in which the advisor has a financial interest, does not receive any compensation or other remuneration that is contingent on any client’s purchase or sale of a financial product. The advisor does not receive a fee or other compensation from another party based on the referral of a client or the client’s business.

Following the NAPFA Fiduciary Oath means I shall:

  • Always act in good faith and with candor
  • Be proactive in disclosing any conflicts of interest that may impact a client
  • Not accept any referral fees or compensation contingent upon the purchase or sale of a financial product

Signature:_____________________

Breaking up is hard to do.

We know splitting up with your current advisor feels messy and complicated, but you don’t have to go it alone.  Even if you don’t end up working with EVOadvisers, we’ll help you figure out the advisor that’s best for you. An educated client makes a successful client! If you do choose us, we’ll walk you through a smooth transition, taking the stress and worry away.

Next Steps -

Are you in research mode?

We want to help you on your journey even if you don't choose us. Check out EVOacademy for all sorts of free resources, including podcasts, videos, articles, and even a Financial Planning Jargon Decoder.

Need to know more about EVO?

We're totally transparent. Read about what "You-Only Advice™" is , what our values are (which guide all our financial advice), and why people like working with us.

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