If someone told you that their financial advisor was on the right side of history, would that sound like a pretty bold statement? What if that person was Jack Bogle, the founder of Vanguard and the world’s first index fund? Would you be more inclined to listen?
That is exactly what Jack Bogle said about the Alliance of Comprehensive Planners when he came to speak to our group in November 2014 at our annual conference, right here in Philadelphia. For those of you who already work with Copper Beech Advisors, you understand what I mean when I refer to the “Brain Trust” of people who we rely on to give you the very best answers to all of your financial questions.
Our group of more than 150 advisors from across the United States, support each other professionally and share a wide range of experience and knowledge that we bring to bear on your behalf. These members are CPA, CFA, CFP®, PhD and attorneys, including practice experts across the spectrum of the financial planning process.
Still, is a claim by Jack Bogle enough for you to hire a financial advisor? The best way to have confidence in your decision, even if you aren’t a “numbers” person, is to understand the difference between different types of advisors, all of whom may call themselves a financial advisor. One way to help separate the forest from the trees is to Follow the Money. Understanding how your advisor is compensated can go a long way toward understanding their motivation in giving you advice. This is crucial.
Next, you want to interview your advisor and ask them some tough questions. You also want to evaluate their style of communication. Ultimately, they will be acting as your financial “thinking partner”. It is very important for you to have good rapport and to be able to understand any recommendations that they make.
At the end of the day, you want to find someone who can stand in your shoes to help you tackle the financial challenges in your life, big and small. Ultimately, this is how you will get on the road to achieving financial peace of mind.