Confidence is like a secret sauce. It is hard to measure…so here’s what I would say to the American people in total. When you go to sleep at night think about the following before you get depressed and you see the market down 500 points: This nation is still the greatest nation on the planet. It was the first democracy on the planet. We have the best military. God bless all our veterans all around the world. Those who have served and those who are serving today. We have the best universities, best military, best rule of law, most innovation, the hardest working ethic of all. Those thing will be here for decades. They aren’t going away. The strength in the system will blow your socks off when it gets out of this malaise we’re in. [CNBC]
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You know what they say: You can’t choose your family, but you can choose your financial planner. Or something like that. One of the great things of being in charge of your money is choosing who (if anyone) will help you manage it. The choice isn’t always an easy one. How will you know that your planner is reputable and trustworthy?
These five red flags may be good indications of whether the financial planner sitting across from you is someone you should trust with your money. LearnVest Planning also provides an innovative 7-step program for your money where you work one-on-one with a financial planner. To see if this program is right for you, start with a free financial consultation.
1. She Isn’t Certified
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2. He Offers to Manage Your Money for “Free”
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3. She Says She Outperforms the Market
“If a financial planner tells you that she can outperform the market, that’s a major red flag,” Vient explains. “In fact, due to government regulations, it’s illegal to advertise statements that promise a specific return.”Outperforming the market—that is, getting better investment returns than the market average—is extremely difficult to do consistently, and requires taking a lot of risks with your investments. It’s rare to find a financial planner who can consistently outperform the market—and results are never guaranteed. Either way, in the pursuit of these high returns, she’ll be exposing your investments to much higher risk than you may be comfortable with.
Instead, look for a CFP® who, when looking at your portfolio, can advise on proper asset allocation based on your risk tolerance and time horizon, as well as through economic ups and downs.
4. She Doesn’t Ask About Your Financial Goals
“Your planner isn’t just there to crunch the numbers,” Vient advises. “She’s helping you make a plan for your money and your life. You should be looking for someone who has similar values to you.”Ideally, you’ll likely want to work with someone who is in a similar life stage. Are you a parent? A planner with children may be better able to understand your need to save for college. Does your CFP® have a specialty? Some planners have an area of expertise, like insurance, estate planning, divorce or retirement—a fact you might want to consider if that’s a particular need of yours.
When meeting a potential planner, remember that you’re allowed to ask questions about their experience and priorities: “Do you think it’s more important to save for retirement or pay off debt? How do you feel about supporting kids through college? How do you mitigate investment risk as your clients get older?”
The choices you make with your money are intensely personal. The person who helps you make these choices should be able to understand and accept your financial priorities, and help you use your money to meet them.
5. His Management Style Makes You Uncomfortable
Financial planners can manage your money for you or manage your money with you. As different people have different needs when it comes to money management, there is no right way to work with a planner—it’s up to you to decide how hands-on you want him to be.
When you sign on with a financial planner, there will be a written agreement of how the two of you will manage your money. Read this carefully, and ask questions if you’re unsure about anything. Are you signing your accounts over to this planner? Will he check in with you before making a trade, or when rebalancing your accounts? If you’re uncomfortable with anything in the agreement, bring it up immediately.Learn more about LearnVest Planning and our financial planners by visiting learnvest.com. To book your free consultation today, email FA_Support@learnvest.com or complete your request online.
LearnVest Planning Services is a registered investment adviser. The opinions expressed in this article are that of LearnVest Planning Services, a registered investment adviser. The advice provided may not be suitable for your individual situation and you should discuss your situation with a financial professional.
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Insider tip: There is a fantastic recipe for bearnaise sauce hidden in Jamie's message
So the American people go to bed tonight, think about the things Jamie suggests, maybe even dream about them, and wake up tomorrow still unemployed or watching their retirement savings massively decrease in value for the second time in 3 years. King Jamie…always a man of the people. Cake anyone?
I'll show you secret sauce…
- MK Lallana
Ok, something must be horribly wrong.
jamie, you can have nocturnal emissions over America. i'll stick to nocturnal emissions over Olivia Wilde.
Military: it's better to freeload of US for defense (Europe) and/or have policies that do not antagonize so many (e.g. brazil)
Rule of Law: are we better than Australia, Canada, Sweden, or Singapore?
Aren't we going to get a post on Roubini's tweet making a joke about the helicopter shot down in Afghanistan? Come on BL, bury the guy.
daaaawg, I was totally gonna use that first democracy line!
First democracy …. lol
Google Translate:
"Don't worry your pretty little heads about it. Just remember Dimon 2016."
Great photo.
18 yet?
Alllrighhhttt
- G. Quagmire
That new first global Democracy
Socks are for studs.
-Anthony Kiedis
Do they have spell check in wacko land?
Sally is 19 or 20 in this pic but Gidget was only 15-16. That averages to 18, right?
I know right, you think he would have learned something at his tier III liberal arts college with a BA in English
so best guess on Dimon's running mate for 2016
Well, at least in the US you don't get caned for throwing a gumwrapper in the gutter
Bit ironic for Mr. Dimonides to make that mistake, no?
"have policies that do not antagonize so many (e.g. brazil)"
We beg to differ.
Co-signed,
-Argentina
-Paraguay
-Uruguay
-Bolivia
Merideth!
and then there's Chris Matthew's chills up his leg and down his pants.
I'm not here to check IDs, I'll just take your word for it.
How bout JG Melon tonight at 9? Great bloody bulls and burgers.
Wait, did JD call the close?
Yeah, well Chet Haze just signed my penis.
Didn't Obama convey a similar message to the American people to ease their fears? Oh that's right he doesn't believe in American Exceptionalism or other basic facts.
What do Dimons dream of when they take a little Dimon Snooze?
Does he dream of mauling Pandits? Or Druries in her black spandex?
Well don't you worry your pretty salt and peppered head
Were going to get you back to solvency in your cozy satin bed
And then we are going to find our best friend United States
And then we are going to give him a best friend hand shake!
Americcaaa oh Americaaaaaa, America, America, America
But if Americas been taken over by nutjob teabaggers, well then we're shit out of luck
He didn't really say we have the "hardest [work] ethic" did he? Foxconn workers beg to differ…
For a man who was a history major, he should know America isn’t the first democracy.
This sounds like a guy who needs to get in the race for 2012, by entering the Democratic Primary.
Seriously dude. Quit your day job and go off the grid. Make 100% sure there is no access to the interweb wherever you end up.
I've been telling people for years to look at Japan. Sure, after their speculative real estate bubble burst the resulting deleveraging caused deflation and asset prices being hugely down for two decades (and counting) but it's still a good place to live compared to most of the world. It's not as if they turned into Zimbabwe or something.
So we have that in our favor. Well, minus the racially homogenous and docile population.
You saw that 60 Minutes segment too? Brazil seems like such a chill 3rd world country to live in, bra.
Japs have a homogeneous society with few malcontents and few freeloaders. USA has through LBJ's "Great Society" raised a whole class of freeloading malcontents who think they are entitled to my hard earned gains. I'm so happy with the way things are progressing I bought a Sig Sauer 556 today. Now to scope it and get prepared for the coming Black Swan.
.223 is the NKI!
Wearing a blue shirt while giving a nationalistic speech = good PR skill
"Americans have the best work ethic."
Wait, what?
Quit being a negative nancy, nacy.
Hi Spitzer!!! Would you like like to order the same girl?
Thank you for that comment, David Duke.
" It was the first democracy on the planet "
Thanks for your contribution to the textbook. —- the Texas Schoolboard
The first democracy on the planet? Democracy has its origins in ancient Greece. Leave it to the U.S. to found a principle that has existed for over a thousand years. It's like "discovering" a land that was already inhabited by indigenous people.
…"It was the first democracy on the planet." Mr Dimon's error has already been pointed out … Greece founded the first Democracy, but the other error is this country is actually a Republic using a democratic process to elect representatives … proof, just recite the Pledge of Alligence "… and to the Republic for which we stand …"
You can also check out the definition of a Republic … " a government in which supreme power resides in a body of citizens entitled to vote and is exercised by elected officers and representatives responsible to them and governing according to law "
So Mr Dimon's is wrong on two accounts.
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