Submitted by Patrick Cote on January 16th, 2017
One of the questions we get asked all of the time is “Can you tell me whether my investment advisor is doing a good job? I am not hearing or seeing much from him about my investments.”
If you have any uncertainty about your current investment advisor, it definitely makes sense to get an independent review. Many firms will do one at no charge and in a confidential manner, so there is little downside to doing it.
We sometimes hear that investors are afraid to dig deeper because they are worried about what they might find. It is worth the potential discomfort because you probably worked hard for the money in your portfolio, or inherited it from a loved one that worked hard for it. Perhaps you are lucky and do not have any of the issues below (less than 10% of the portfolios we reviewed had none of the five issues below). If you do have any of the issues below, letting them linger can hurt your chances of achieving your financial goals.
There are five different problems to watch out for: