DIY Can be Dangerous - 10 Questions to Ask Before Hiring a Financial Advisor - Ep #101
Happy New Year, and welcome to episode 101 of the One for the Money podcast!
This episode airs on January 1st—a perfect moment for financial resolutions and fresh starts. If getting back on track with your money is one of your goals for the new year, this episode will help you make one of the most important decisions in your financial life: whether to hire a financial advisor, and how to choose the right one.
In This Episode, You’ll Learn:
The 10 essential questions you should ask when interviewing a financial advisor, including:
Whether the advisor is a true fiduciary
How they are compensated
How often you’ll meet
How many clients they serve
Their education, experience, and credentials
Whether they review your tax return and estate documents
How they manage their own finances
And more insights that help you avoid conflicts of interest and ensure you’re hiring someone who will put your interests first
I’ll give personal examples from my own practice at Better Planning Better Life, as well as real stories of people who tried to “DIY” their finances and paid the price.
WHy This Matters
Financial mistakes are often invisible at first… but they compound over time. And while many of us hesitate to discuss money, the consequences of mismanaging it can follow us for decades. A great advisor can help you avoid costly errors, stay on track, and make informed decisions with confidence.
Tips, Tricks, & Strategies
In the final segment, I’ll explain a simple but powerful cash-management strategy to protect your purchasing power from inflation—the silent thief.
You’ll learn:
How much cash to keep in reserves
Where to keep it for maximum yield
When to consider higher-yield instruments
Why doing nothing with your cash can quietly cost you thousands
Episode Highlights
The danger of default 401(k) mistakes
Why relying only on the company match is rarely enough
How financial “invisibility” leads people to miss opportunities
What transparency from an advisor should look like (including how I show clients my own plan)
WHo This Episode is For
Anyone considering hiring a financial advisor
Anyone unhappy or uncertain about their current advisor
DIY investors wondering if they’re missing something
Anyone wanting a smarter, more intentional financial plan for 2025
Anyone with too much cash sitting in low-yield bank accounts
Takeaway
A better life is the result of better planning. Asking the right questions—and using the right cash strategy—can help you start the year with clarity, confidence, and momentum.
References
Hiring a Financial Adviser: 10 Questions to Ask | Kiplinger
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