What Should Your Advisor Know About You?

May 26, 2025

In this engaging discussion, Stephanie Shadel, a seasoned senior wealth advisor at Schwab Wealth Advisory, shares her extensive expertise in client-advisor relationships. She highlights the critical importance of gathering both quantitative data and emotional insights to build trust. They delve into how personal experiences shape financial behaviors and expectations, emphasizing open communication. Stephanie also explores psychological biases like the endowment effect, urging clients to be aware of these influences for smarter investment choices.

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ADVICE

Prepare Thoroughly for First Meeting

Prepare for your first advisor meeting by gathering key financial documents like income statements and balance sheets.
If new to investing, bring approximate figures and build the plan together over time.

ADVICE

Build Trust Through Openness

Share personal vulnerabilities and sensitive family situations with your advisor when you feel comfortable.
This openness builds trust and helps address important financial matters effectively.

ADVICE

Share Past Market Reactions

Discuss how you've reacted to past market downturns to help advisors understand your true risk tolerance.
Use recent market events to assess your emotions and better prepare for future volatility.

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In this episode of Financial Decoder, host Mark Riepe is joined by Stephanie Shadel, a senior wealth advisor at Schwab, to examine the scope of an investor's communication with their financial advisor. She emphasizes the importance of understanding clients' financial situations, building trust, and maintaining open communication. Throughout their discussion, they cover both the data-driven and emotional aspects of portfolio management, offering insights into strengthening the dynamic with a professional advisor.

Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder.

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Important Disclosures

The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.

All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed.

Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.

Investing involves risk, including loss of principal.

Diversification and asset allocation strategies do not ensure a profit and cannot protect against losses in a declining market.

Past performance is no guarantee of future results, and the opinions presented cannot be viewed as an indicator of future performance.

Schwab does not recommend the use of technical analysis as a sole means of investment research.

All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.

Neither the tax-loss harvesting strategy, nor any discussion herein, is intended as tax advice and Charles Schwab & Co. does not represent that any particular tax consequences will be obtained. Tax-loss harvesting involves certain risks including unintended tax implications. Investors should consult with their tax advisors and refer to the Internal Revenue Service (IRS) website at www.irs.gov about the consequences of tax-loss harvesting.

Schwab Wealth Advisory™ ("SWA") is a non‐discretionary investment advisory program sponsored by Charles Schwab & Co., Inc. ("Schwab"). Schwab Wealth Advisory, Inc. ("SWAI") is a Registered Investment Adviser and provides portfolio management for the SWA program. Schwab and SWAI are affiliates and are subsidiaries of The Charles Schwab Corporation.

Portfolio Management provided by Schwab Wealth Advisory, Inc., a Registered Investment Adviser and affiliate of Charles Schwab & Co., Inc. (Schwab). Please read the Schwab Wealth Advisory and the Schwab Wealth Advisory, Inc. Disclosure Brochures for information and disclosures about this program. The Wealth Advisor, Associate Wealth Advisor, and other representatives making investment recommendations in your Schwab Wealth Advisory accounts are employees of Schwab Wealth Advisory, Inc.

The information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as a specific recommendation, individualized tax, legal, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager) to help answer questions about specific situations or needs prior to taking any action based upon this information.

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