[‎‎USER]

Those who invest with a financial wealth manager/advisor that you actually like: how did you find them? What did you look for? What were your deal breakers?

For context: my mother was unexpectedly diagnosed with a terminal illness in late 2023 and I abruptly flew across the country to be her caretaker while working full time remotely.

Soon after she passed, my job laid off half their employees.

I took that time off to manage her estate and personal affairs for several months.

After that, I flew back to my state and took a little more time off to decompress.

My mom did leave me an inheritance and I understand investing is the smart choice. I listened to finance podcasts and tried to do additional research for months, but it was still quite overwhelming for me.

I ended up putting half in a HYSA for the time being, especially since I wasn’t actively working.

I have been actively looking for a job for a few months with no luck so far. It’s unfortunate with the uncertainty of our current economy.

And while time is uncertain, there’s no better time then to have that money she gifted work for me. I am looking for advice, recommendations, or any info that personally helped you invest and grow your own money.

Thank you!

[Jeffrey]

We never used one until we inherited a decent sum of money. There are a lot of tax considerations with our situation. My step dad has one he uses that is fine, but just wasn’t what we were looking for.

We got some recommendations and settled on a small company.

There are several things we like and I think you should consider when looking for someone: First, if they aren’t a fiduciary run the other way.

A fiduciary has to at least “try” to do what’s in your best interests and can’t just sell you investment products with high fees that they’re making commissions on. Second, look at their fee structure and what you get.

We are getting a suite of things that include tax advice and preparation, investing advice, advice about end of life planning, how to best maximize insurance/workplace benefits, etc. We pay a flat fee per year.

Never more, never less and we can opt out any time without fees or penalties Thirdly, they aren’t rushing you out the door when you meet with them.

They should actually listen to what you think about their advice and have alternate suggestions if you (or partner if you have one) aren’t on board with something without being overly critical. Fourth, they should be easy to contact.

You shouldn’t have to wait a long time to hear back from them when contacting them. Ours is very available and insists on meeting in person quarterly to ensure we’re on the same page.

We feel like ours understands what we want, what our goals are, and is actually trying to help us get there instead of just selling us the same products and services every other client gets.

Lastly, I’d say if you don’t feel completely and totally comfortable find someone else. If you don’t trust them or feel like they are the person or firm for you find a different one.

We have been happy with what we’re getting, and we certainly couldn’t navigate some of the tax/inheritance issues without quality advice and I feel like we’ve gotten that. Hope that helps.

Good luck finding someone.

[Karen]

My condolences and I’m sorry for what you’re going through.
Have you tried reading the book ‘The Simple Path to Wealth’.

It is simply written but has helped me immensely in making financial decisions and feel confident in those financial decisions.

[Author]

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