Transcription: 
Are you thinking about hiring a financial advisor? If they can save you 1% in time, 1% in mistakes, or 1% in stress, it might be a no-brainer. But how do you avoid hiring the wrong advisor? Let me share 6 things to watch out for before making this big decision. Hi, I’m Hunter Brockway, founder of Boca Retirement Strategies, here to guide you to a successful, stress-free retirement while spending more and avoiding being killed in taxes. Today I’m here to help you avoid common pitfalls when choosing a financial advisor.

1. They can’t clearly explain the fees. If a financial advisor can’t spell out all of their fees on the back of a napkin in plain English, that’s a big red flag. Transparency is key when it comes to knowing what you’re paying for and the value you’re getting.

2. Hiring the first advisor you meet. Don’t hire the first advisor you talk to. Interview multiple advisors to find the best fit for you, your goals, your personality, and your financial needs. Think of it like hiring an employee for one of the most important jobs in your life.

3. Clear value in their fese. Your advisor should be able to show you on paper the value they provide that justifies their fee and specific to your situation. If they can’t, move on.

Number four, only selling products for a commission. Some advisors only sell products like annuities or insurance for a commission. While products can be useful in certain cases, selling products alone is not financial planning and if all they’re doing is pitching products, they’re likely not creating a comprehensive financial plan.

Number five, issues on their record. You can check an advisor’s background using the broker check website to see if they’ve had formal complaints. Personally, I have none, but I’ll say this, someone with one minor issue like a personality conflict with a client may not be a deal breaker. However, if you see multiple complaints or a history of large settlements like a $5 million issue, that’s a reason to think twice. Number six, rushing you to make a decision. An advisor who pressures you to make a decision right away, like signing a contract after just one meeting, is a huge red flag.

You should have time to think it through, ask questions, and ensure you’re comfortable before committing. At Boca Retirement Strategies, we use a multiple meeting process to ensure prospective clients fully understand the value we provide, we answer all of their questions, and never ask them to trust us with a penny of their nest egg or pay us a single dime in fees until they’re confident we’re the right fit. I’m Hunter Brockway, founder of Boca Retirement Strategies. If you found this video helpful, please like it so more people can avoid these mistakes when hiring an advisor. Enjoy your successful retirement and thank you for watching. Bye.