What to consider when choosing a financial advisor

We are often asked what people should consider when looking to hire a financial planner or advisor.

The most important criteria is whether you feel comfortable with that person and are able to share with them very personal and sensitive information. If you cannot share this kind of information with your financial advisor, the value that they add will be very limited.

They should have earned the Certified Financial Planner designation and have been doing financial planning full time for at least five years.

It is very important that your advisor is a great listener and able to explain very complex issues at the clients’ level.

They should be independent from any entity that sells financial products, such as banks, brokerage houses, or insurance companies. However, they should be overseen and regularly audited by an independent entity to ensure they are compliant with all rules and regulations.

The way that they are compensated should be flexible (i.e., flat fee, hourly, product commission, percent of asset) and fully disclosed to each client and prospective client.

Also very important is that they should be passionate about what they do. Financial planning should not just be a job to them but a calling.

Morningstar developed detailed questions to ask your existing advisor or one you are considering hiring. For our Firm’s answers, please refer to the “Financial Advisor Interview” PDF file on the home page of our web site at www.whitehousellc.com
White House Financial & Settlement Consulting helps families live an easier and less stressful life through the proper management of their financial resources. We do this by acting as our clients’ trusted advisor providing a personal touch customized to the client’s needs! Please visit our web site at www.whitehousellc.com for more information!

The 4 Biggest 401(k) Rollover Mistakes

By Cyril S. White, Certified Financial Planner™ As people transition from one employer to another, many are still uncertain about what to do with their 401(k) plan when they leave their employer. Here are 4 of the biggest mistakes you should avoid when considering what to do with your 401(k). A plan participant leaving an employer typically has four options (and may engage in a combination of these options as well), each choice offering advantages and disadvantages. 1. Leave the money in his/her former employer’s plan, if permitted; 2. Roll over the assets to his/her new employer’s plan, if one is available and rollovers are permitted; 3. Roll over to an Individual Retirement Account (IRA); or 4. Cash out the account value. Each of these options can have a significant impact on your financial goals if not planned and implement...

9/17/2023 Weekly Market Performance

Here is our research department's Weekly Market Performance analysis. If you have questions or need anything else please contact me at (734) 272-4322 or cyril.white@fourfinancial.com U.S. and International Equities Markets Mixed The major markets ended mixed this week as the utilities and consumer discretionary sectors led while information technology lagged following Apple’s challenges in China. Developed international equities posted solid gains this week as European stocks have witnessed their largest gain in six months after the European Central Bank (ECB) signaled an end to its hawkish monetary policy. Next Wednesday, the Federal Reserve meets concerning monetary policy and interest rates. We believe the Federal Reserve should highlight underlying improvements within the inflation dynamic. In addition, we believe the Fed will not likely declare victory but will probably highlight the risks to growth and inflation are getting into balance. According to...

COVID will not stop us providing unique settlement solutions using structured settlement annuities!

I hope that you are doing well! We just FINALLY completed the settlement of a case for a minor (age 17) that we were initially engaged by our plaintiff attorney client in February 2021, to provide structured settlement annuity quotes! Although the claimant was very close to the age of majority the key to the case was not giving him all of the settlement proceeds, which was over $120,000, at age 18. Having been in this business for over 20 years I cannot tell you the number of sad cases we have witnessed where the young claimant receives their settlement proceeds at age 18 only to blow through all the funds before anyone can blink and make bad decisions with the proceeds! This case involved two liability insurance carriers Liberty Mutual and Member Select. We coordinated multiple rounds of document revisions and had to have a separate set of different documents for each insurance carrier. In addition, one of the carriers would not fund the annuity until we had a fully executed court ord...

White House Financial & Settlement Solutions, LLC

Search This Blog