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Money Rehab with Nicole Lapin
When You Need a Financial Advisor and How Find the Right One with Peter Mallouk (CEO of Creative Planning)
Jan 15, 2025
Peter Mallouk, CEO of Creative Planning and a financial planning expert, shares invaluable insights on selecting the right financial advisor. He discusses the importance of establishing your financial goals and knowing when to seek help. Listeners learn essential tips for vetting advisors and what to expect in initial consultations. Mallouk emphasizes understanding compensation models and highlights the benefits of fee-based structures. His practical advice ensures that clients can effectively navigate their financial journey with the right support.
31:20
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Quick takeaways
- Engaging a financial advisor can significantly aid in developing a personalized strategy to achieve one's financial goals effectively.
- It's essential to assess an advisor's fiduciary responsibility and experience to ensure a trustworthy and productive financial relationship.
Deep dives
The Burden of Fees When Traveling
Traveling often comes with various fees that can derail financial plans. Expenses associated with travel can feel overwhelming, especially during busy holiday seasons. For individuals trying to maintain budgets, these unexpected costs can make achieving financial goals seem like an uphill battle. Tools like Chime's fee-free overdraft feature can relieve some of that financial stress, enabling users to avoid traditional overdraft fees.
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