Are you stuck with the wrong financial advisor? Discover the five signs that it's time for a change. From advisors who dodge tax planning to those mired in jargon, these red flags can cost you dearly. Learn why it’s essential for both partners to be included in financial discussions. Plus, ask yourself: would you rehire your advisor today? Unpack practical steps for transitioning to a new advisor and ensure you have someone who genuinely adds value to your financial journey.
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volunteer_activism ADVICE
Demand Proactive Tax Planning
If your advisor always tells you to "ask your CPA" on tax matters, find a new advisor or firm that supports proactive tax planning.
James Canole warns tax planning is inseparable from investing and retirement decisions and can add huge value to your plan.
volunteer_activism ADVICE
Look Beyond Investments
Avoid advisors who only talk about investments and ignore taxes, income, insurance, and estate planning.
James Canole says a good advisor coordinates all disciplines to optimize your financial life, not just your portfolio.
volunteer_activism ADVICE
Insist On Clear Communication
Fire advisors who leave you confused or use jargon instead of clear explanations.
James Canole argues an advisor must explain concepts simply or they lack mastery or are hiding complexity on purpose.
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Most people stay with the wrong financial advisor far too long: out of loyalty, inertia, or fear of starting over. But the cost of sticking with the wrong person can be measured in dollars, stress, and lost years you can’t get back.
5 Signs You Should Fire Your Financial Advisor 1. They always say “ask your CPA” instead of doing proactive tax planning (advisors don’t file returns, but tax planning is inseparable from investing and retirement decisions). 2. They only talk about investments and ignore taxes, retirement income, insurance, and estate planning. 3. You leave meetings confused—jargon and complexity replace clear explanations. 4. Your spouse/partner is ignored or left out of meetings and decisions. 5. You wouldn’t rehire them today if you were starting fresh. A great advisor simplifies your life, coordinates every part of the plan, and speaks plainly. If that’s not your experience, it might be time to move on.
Ready to explore whether your advisory relationship is truly serving your best interests? Take an objective look at these warning signs and consider what advice your future self would give you today.
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Advisory services are offered through Root Financial Partners, LLC, an SEC-registered investment adviser. This content is intended for informational and educational purposes only and should not be considered personalized investment, tax, or legal advice. Viewing this content does not create an advisory relationship. We do not provide tax preparation or legal services. Always consult an investment, tax or legal professional regarding your specific situation.
The strategies, case studies, and examples discussed may not be suitable for everyone. They are hypothetical and for illustrative and educational purposes only. They do not reflect actual client results and are not guarantees of future performance. All investments involve risk, including the potential loss of principal.
Comments reflect the views of individual users and do not necessarily represent the views of Root Financial. They are not verified, may not be accurate, and should not be considered testimonials or endorsements
Participation in the Retirement Planning Academy or Early Retirement Academy does not create an advisory relationship with Root Financial. These programs are educational in nature and are not a substitute for personalized financial advice. Advisory services are offered only under a written agreement with Root Financial.
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