What if the person managing your retirement isn’t qualified—or worse, isn’t trustworthy?
In today’s episode, we’re sharing advice on how to choose a financial advisor you can actually trust. They run through some common red flags to watch out for, the importance of referrals, and how designations like CFP can be indicative of trustworthiness, but not always a guarantee of it.
We’ll explain why financial advisors who rely heavily on jargon and acronyms can be a red flag—and why the ability to simplify complex concepts is a strong sign of someone you can trust. After all, before handing over your hard-earned money, it’s essential to thoroughly vet any advisor to make sure they’re the right fit for you.
From trusting your gut to using practical tools like BrokerCheck, this episode is packed with tips and tricks to help you avoid bad actors in the financial world. Whether you’re looking for your first advisor or reevaluating your current one, this episode is your great start to a more secure retirement.
KEY TAKEAWAYS
- The Search for a Financial Advisor You Can Trust
- Beware of Fake Google Reviews
- Ways to Determine That a Financial Firm is Legit
- Making Sense of the Alphabet Soup Designations
- Using BrokerCheck to Confirm Worthiness
SELECTED LINKS FROM THE EPISODE:
- Al Gore
- Thomas Edison
- BrokerCheck
- Financial Industry Regulatory Authority (FINRA)
- Securities and Exchange Commission
INSPIRING QUOTE
- “If you can’t explain it simply, you don’t understand it well enough.” – Albert Einstein
- “If somebody’s really good at what they do, they should be also really good at explaining it at an elementary level.” – Mike Panico
- ”If there’s a lot of people all pointed to the same dentist, the same mechanic, the same advisor, that’s where a lot of solace comes in. I think that firsthand experience helps people.” – Mike Panico
- ”The majority of people that walk in the doors here were referred by somebody, so referrals go a long way.” – Jessica Panico
DISCLOSURE
Arcadia Wealth Management, LLC (Arcadia) is an investment adviser registered with the U.S. Securities and Exchange Commission (SEC). The information presented in this video is for educational and informational purposes only and is intended for a broad, general audience. It is not intended as, and should not be construed as, an offer, solicitation, or recommendation to buy or sell any securities or to adopt any investment strategy. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. Any references to investment strategies, philosophies, or client experiences are illustrative and may not be representative of all clients or outcomes.
Arcadia Financial has a reasonable basis to believe that this content does not include any false or materially misleading statements and presents information in a fair and balanced manner. No portion of this communication should be construed as tax, legal, or accounting advice. Please consult your own tax or legal professional for guidance specific to your situation.
Investment advisory services are provided through Arcadia Wealth Management, LLC, an SEC-registered investment adviser. Insurance products and services are offered through Arcadia Financial Group, LLC, by appropriately licensed agents. Bookkeeping and tax preparation services are provided by Arcadia Tax, LLC. These affiliated entities operate independently but are under common ownership.
