What I especially didn’t like was something I heard from a colleague who had some of her own personal money with the advisor. She said he told her some gossip about another person in the firm, an employee whose 401(k) he was handling—something about the person’s behavior. That seemed inappropriate. It must be against their code of ethics. That gave me a bad feeling.
I’m a business and executive coach. I’m all about service versus sales: That’s what I teach people to do. So I’m very attuned to whether someone has a real service orientation. And, I’ve talked to other advisors. They want to know your risk tolerance, put you in five buckets. But I’m not a bucket. I have issues, challenges and concerns, so treat me like a person. I want someone to listen to me as an individual. This new guy really does that. He’s more customized.
Attorneys have higher ethical duties than other professionals and attorney-client privilege can be a valuable benefit.
Most financial advisors who claim to do “estate planning” are all about the money and little else, as you would expect because this is their main expertise. Sadly, most estate planning attorneys are not much better, mainly trust mills. Go right now to http://Protect.LIFE if you want to experience real, comprehensive estate planning (no cost, no obligation).