Money Meets Medicine Firing Your Financial Advisor
Jul 9, 2025
Explore the financial pitfalls of sticking with the wrong advisor. Discover the three types of doctors and their unique needs for financial guidance. Learn to identify red flags, such as hidden fees and poor communication. Find out how to fire a financial advisor gracefully while maintaining professionalism. Get tips on navigating the peculiarities of advisor transitions and the importance of specialized advice for high-earning physicians. Plus, uncover key strategies to choose the most qualified financial partner.
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Cost Of A Bad Advisor
- Dr. Jimmy Turner warns that sticking with the wrong financial advisor can cost you a seven-figure sum over your career and retirement.
- He urges listeners to evaluate advisor fit early to avoid large long-term losses.
Three Doctor Financial Types
- Dr. Jimmy Turner categorizes doctors into three groups: DIY, fine-tuning, and full outsource.
- This framework helps decide whether and what type of advisor you need.
Ask Plainly: How Do You Get Paid?
- Ask every prospective advisor, "How do you get paid?."
- If their answer is unclear, treat it as a major red flag and keep looking.