Old Money9 Huhti 2024

042. Do You Need a Financial Planner to Build Wealth?

Gentle reminder: no one cares as much about your money as you do. Today, Amber answers a listener's question about what to look for in a financial advisor and whether you even need one. You'll learn the differences between the various financial service providers and gain the tools to discern whether or not a financial planner aligns with your wealth goals. From the hidden impact of advisor fees to why you want someone who's CFP certified, you'll learn how to take control of your financial legacy today.

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In today's episode, we cover the following:

Welcome to new listeners and what to expect in today's episode (0:00)
Cornerstones of this podcast series (3:30)
Question: How do you find a great financial advisor? Or do I really even need one? (6:07)
What is a financial planner? (10:45)
What you want to look for in a financial planner (14:11)
What is a fiduciary? (18:06)
The viability of robo-advisors (22:20)
What is a wealth manager vs. a portfolio manager? (24:05)
How financial service providers get paid (26:39)
Why 1% isn't a small amount when it comes to your finances (29:37)
Things to consider before hiring a financial planner (36:00)
Options for when you're at the beginning of your wealth journey (39:28)
Principles of investing according to John Bogle (41:33)
Conclusion and citations to start your research with (46:09)

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RESOURCES:

Episode 001: Money is my Boyfriend: Building a Relationship with your Finances
Episode 003: Financial Fight or Flight is Ruining Your Life
Episode 005: Afford Everything You Want
Episode 011: The Hot Girl's Guide to Investing
Episode 018: Drowning in Credit Card Debt: Healing Habits & Personal Loans
Episode 019: AMEX Black & Bilt Card Review- Your Credit Questions Answered
Episode 028: How to Found Your Family Office and Build a Legacy
Episode 035: Tracking your Net Worth: Worth it's Weight in Gold
Episode 041: Hack your Brain for Wealth with Anne Lester
Read Anne Lester's book Your Best Financial Life
Find a financial advisor at NAPFA

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Take control of your financial life today. Download your free Net Worth Tracker at oldmoneypodcast.com/networth and track the GROWTH of your financial future.

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Connect with the Old Money Podcast:

Web: OldMoneyPodcast.com

Email: OldMoneyPodcast@gmail.com

Instagram: @OldMoneyPodcast

TikTok: @OldMoneyPodcast

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The content presented in this podcast is intended to entertain, educate, inspire and support listeners in their personal and professional development and does not constitute business, financial, or legal advice. Please note that this episode may contain paid endorsements and advertisements for products and services for which individuals on the show may have a direct or indirect financial interest in products or services related to the episode.

Produced by AFMEDIA, a division of AFMKTG

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