Who to Trust? Are You Working With the Right Financial Advisor - E5

Financial Fortitude

Michael and Brady discuss how technology and industry changes have broadened access to financial advice, making it more accessible beyond just wealthy individuals. The episode delves into the challenges of selecting the right financial advisor, examining where Americans currently get their financial advice, and the implications of various advisory models (fee-only, fee-based, commission). Key topics include the importance of finding a suitable advisor, understanding compensation structures, and the roles played by different types of financial institutions. The episode concludes with actionable advice for individuals at different stages of their financial journey on finding the best professional guidance for their needs.

Key Takeaways:

• Who should seek financial advice?

• The surprising place most Americans get their financial advice

• Why a certain advisory model may or may not be suitable for you?

Key Timestamps:

(00:00) - The Evolution of Financial Advice

(01:17) - The Challenge of Choosing the Right Advisor

(04:50) - Survey Insights: Where Americans Get Financial Advice

(15:42) - Understanding Different Types of Financial Advisors

(24:44) - The Role of Technology and Robo-Advisors

(27:02) - Choosing the Right Financial Partners

Key Topics Discussed:

Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, financial wellness, wealth building, financial psychology, financial advisor, finance therapist, student loan debt, finance guidance for high earners, business owner finances

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or (INSERT DBA or AGENCY NAME) and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value.

Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. (INSERT DBA or AGENCY NAME) is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 6992075.1 Exp. 10-26