If your portfolio is large, it could be time to review in the event you still fit the profile of your adviser’s typical client.
A connection with a financial adviser is quite private — after all, your adviser knows a whole lot about you.
But there is a time when you may be prepared to work with someone else as your situation evolve. It could be difficult to find those signs initially, and because of the personal relationship with the adviser, you might put it off changing as long as you can.
However, if your personal situation has changed, if your portfolio has increased, you have gotten divorced or married, have children or are near retirement, it is time to consider what your adviser can — or can’t — do for you.
You want more help. Brokers can offer investment solutions, but that is about all.
“There are a whole lot of things being with a financial adviser can do to add value that don’t have anything to do with the investments, whether that is helping with tax preparation, helping with all the estate planning or (other information ).”
If you have only used your adviser for investing, ask certain questions about their experience in different regions and the resources he or she has for needs like saving for retirement or college, he says. They ought to answer these questions for you.