Ramsey Everyday Millionaires Should I Fire My Financial Advisor?
Dec 29, 2025
David, a caller from Indianapolis, dives into a discussion about his lackluster investment returns and his relationship with his financial advisor. He highlights concerns over weak growth and unproductive fund choices. The conversation touches on the necessity for clients to understand their investments and the advisor's role in educating rather than merely managing. They also explore the idea of whether financial advisors provide enough value compared to passive investment options, like Vanguard, alongside discussing the importance of accountability and collective fund selection.
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Advisor Held Deposits Idle
- David discovered his advisor left client deposits idle in a money market instead of investing them.
- Dave Ramsey says that handing money to an advisor and not understanding it is how people lose everything.
Take Responsibility For Your Investments
- Do know what mutual funds you own and hold your advisor accountable for teaching you about them.
- Do not treat an advisor like a babysitter who simply handles money without educating you.
Use The S&P As A Performance Barometer
- Comparing returns to the S&P 500 can reveal when something is amiss with active management.
- Underperforming a simple S&P index signals either poor fund selection or mismanagement.