When to Hire an Advisor - Amberly Grant | MHFI 222

Doug and Amberly discuss the ins & outs of when to consider using a financial advisor.  They explore the pros & cons of working with advisors, fee structures, the importance of fiduciary responsibility, how to avoid bad financial advice, and complexities of DIY financial management.  They share personal stories and experiences to illustrate the discussion, including Doug’s past mistakes with an advisor and Amberly’s insights from hosting financial discussions & events.

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Links

(*Some affiliate links so we might earn a commission if you buy something)

• Connect with Amberly:
  • AmberlyGrant.com
  • FinTalks
  • FinTalks Cruise
  • Instagram
  • Facebook
  • “Jump In Feet First” podcast
• Elizabeth on MHFI episode 212
• Amberly on MFHI episode 216
• Wealthsimple
• Jeremy Schneider/Personal Finance Club
  • “Types of Advisors”
  • “The Fees Add Up”
  • “Cost of Advice?”
• Northwestern Mutual Conflict of Interest brochure
• Northwestern Mutual Conflict of Interest brochure (Marked up)
• Denver Asset Building Coalition
• Brian Feroldi on MHFI episode 213
• Downshift Financial
• Nectarine, Advice-Only Financial Advisors
• FeeOnlyNetwork
• JL Collins, “Simple Path to Wealth”
  • Kindle
  • Hardcover
  • Paperback
  • Audiobook
• Mark’s Money Mind Podcast
• CampFI
• EconoMe Conference
• Mile High FI Facebook Group
• Doug’s site
• Carl’s blog: 1500 Days

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**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won’t even make such a claim. You shouldn’t take the info as financial, legal, or tax advice. We aren’t certified financial planners or advisors. We’re not qualified for much. So get advice from professionals.**

Brought To You By:

The Doug Show, aka Affiliate Marketing & Side Hustles

1500 Days, Carl’s Blog about Early Retirement

Email us here: [email protected] or [email protected]

0:00 Introduction

3:27 Definition of financial advisors

9:14 Fees

16:22 Two hats

22:13 Sleep issues

27:35 Pros of working with financial advisors

38:12 Cons of working with financial advisors

44:27 When a financial advisor is useful

53:20 When DIY might be better

57:25 FinTalks Cruise

1:03:47 Soundcheck – Laid back with rules