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Image by Daniel Norris

Don’t Miss the Red Flags That Signal a Shady Financial Advisor

Updated: May 28

Hiring a financial advisor is confusing. Here's what you need to know to make an informed choice.

red flags of financial advising

Someone once told me that financial advisors are like roaches. You pick up a rock and three of them scurry away.

As a financial advisor, I wanted to disagree, but I really couldn’t. My profession has a poor reputation and it’s often deserved. Everyone has a story of the financial advisor who wouldn’t stop calling them or who put Grandma into an annuity that wasn’t right for her situation.

With the advent of social media, the problem has only gotten worse. If you get on Instagram, you’ll see unscrupulous “advisors” pushing life insurance as the best option no matter what the problem.

I use quotes around advisors because that’s the problem…anyone can call themselves a financial advisor. Life insurance agents are often the worst. They’re often commissioned salespeople who don’t have the knowledge to actually advise, yet they still introduce themselves as a financial advisor or wealth manager.

Since I don’t make the rules, all I can do is teach you what to look for when you hire a financial advisor. By asking the right questions, you can have a pretty good idea if you’re talking to a real advisor or just someone looking at you like you’re their ticket to winning the office sales competition.

Here’s what you’ll learn.

  • THE certification your advisor should have

  • One red flag to watch out for

  • 3 places to find your next advisor


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