Beyond Budgets Podcast20 Feb 2025

Investing Smart: How to Avoid Hidden Fees & Find the Right Advisor

Did you know that half of investment advisor clients think they're getting comprehensive advice, but only 11% actually are? In this episode, Deb Meyer sits down with Stephen Tanenbaum, founder of Rainbook, a platform dedicated to bringing transparency to financial advising. Stephen shares how Rainbook helps parents evaluate their advisors, uncover hidden fees, and make sure they're getting real value from their financial relationships.

They also discuss:
✅ The difference between fiduciary advisors and commission-based brokers
✅ Common hidden fees in financial advising (and how to spot them)
✅ Why transparency matters in both finances and relationships
✅ Practical financial tips for families balancing work, kids, and budgeting
✅ The role of financial advisors beyond just managing investments

Whether you're working with an advisor now or considering hiring one, this episode will help you ask the right questions and make smarter financial decisions.

Episode Highlights

(05:40) Fiduciary Advisor on 529 Plans

(10:05) Understanding Financial Advisor Fees

(16:47) Financial Advisor Fees and Services

(25:13) Personal Finance and Budget Planning

Resources Mentioned in This Episode:

📌 Rainbook's Advisor Analyzer Tool – A free tool to evaluate your financial advisor's fees and credentials.
📌 FINRA BrokerCheck – A resource to research financial advisors and brokers.
📌 National Association of Personal Financial Advisors – A network of fee-only fiduciary advisors.

Connect with Stephen Tanenbaum

Learn more about Rainbook: rainbook.com
Connect with Stephen on LinkedIn: https://www.linkedin.com/in/stephen-tanenbaum-9596706/

Connect with Deb Meyer

Schedule an Initial Call

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Website

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