I need to tell a story. The story has to do with INTEGRITY, OBJECTIVITY and HONESTY.
Here are three statements that we at Wela believe in:
1. You do not need a financial advisor to manage your own money
2. General financial advice should be accessible and free.
3. The delivery of trusted advice should be earned, not sold.
We built this firm on the backbone of the belief that all investors deserve great investment solutions and options, regardless of their net worth or investment size. This should be your general declaration of independence regarding your financial situation.
Start with the first point, we truly believe that a combination of index funds from Vanguard is a very viable solution for most investors. If you have a strategy of allocating your funds to the right accounts (retirement and non-retirement), once in the correct accounts allocating across low-cost index funds gives you the best chance for success. KISS: Keep It Simple Stupid.
Second, you should be able to find a truly objective financial advisor that is generous enough to share 20 minutes with you to give you general financial advice that can send you on your way. If you don’t want to reach out to someone, there are podcasts and resources online to deliver the answers you need.
Last, ask yourself if someone who is trying to advise you is the same person that is trying to SELL something to you. I honestly hate the fact that insurance salesmen who are compensated based on the product they sell you can call themselves financial advisors. Find someone that is willing to invest in giving you significant advice BEFORE asking for your business. Then you can know if their advice is worth it.
So what are your thoughts? We are truly interested in knowing what Generation X and Y has to say about how you like to be advised. Share your comments below.
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