Is it hard to change financial advisors?

Nov 13, 2015
Author: Scott Hanson


Sometimes I’ll speak with somebody who has had the same financial advisor for many years and has not liked him or her because that advisor is condescending, or they provide poor service, or the results have been lousy. Whatever the case may be, you’re certainly not stuck with that financial advisor.

Just because you hired an advisor or a stockbroker years ago does not mean you need to remain stuck for the rest of your life. It’s your money. Personality and comfort DO matter. Simply, advisors should be there for you, and of course, you absolutely have choices.

At Hanson McClain, many of our clients come to us from other advisors because they are tired of the poor service they’ve been receiving. We naturally make that transition very simple for people who choose us and want to come aboard.

As we meet with our prospective clients, we use either a Compass process, or our 7 Personal Decision Points process, to try to determine what’s the appropriate type of accounts that our clients should be invested in. How much do we believe in the 7 Personal Decision Points? I’m writing a book on it right now.

Once we complete our analysis, and once we determine if we are a good fit, we take care of all the paperwork. We even take the responsibility of notifying the previous firm that your money’s being transferred. As a matter of fact, we do all the heavy lifting. All you need is to put your trust in us and we’ll guide you through that process.

It’s pretty straightforward, and not at all uncommon. You might have chosen an advisor who was a friend, someone who was recommended by a colleague, or someone who was referred to you by your employer. Maybe you’ve been considering a switch for a long time. My only advice is don’t wait until it’s too late. If you’re at a point where you’re frustrated with your advisor and you think that it’s time to move on, we can help. Give us a call, and let’s discuss your goals and dreams, and what you hope to accomplish going forward.

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