Four signs it’s time to switch advisors

April 29, 2021

Question: Gerry in Mason: I’m just wondering how someone knows it’s time to leave their financial advisor? My dad works with one but I don’t think it’s a good fit for him. 

A: We’re sorry to hear this. Like any strong relationship, a client-advisor relationship should be based on trust, understanding, and honesty – but this unfortunately isn’t always the case. And for someone who’s in the relationship (as your father is), it can be hard to see the signs that maybe it’s time to move on. Here are four of those signs.

1. Does your father feel like his advisor listens to him? Like, really listens to him? Hears and addresses your father’s concerns and worries? Answers his questions in a straightforward manner and without condescension? Hopefully this is the case. Because working with an advisor should be a two-way street of give-and-take. An advisor shouldn’t talk at you.