Financial advisors are encouraged to identify who their “ideal client” is.
The idea is that it’s just impossible for a financial advisor to be effective if he or she serves a wide variety of different types of clients.
There’s just too much to know.
When you look for a financial advisor, try to figure out who their ideal client really is.
Here’s how I describe my ideal client, for example:
- You have $1 to 5 million in investable assets (including retirement accounts)
- You are 45 to 65 years old
- You believe in low cost (“passive”) investing
- You don’t think it makes sense to pay an advisor 1% of your portfolio
- You could use help with both financial planning & investment management
- You live north of Boston
If it turns out I’m describing you, we should probably talk. Check out my complimentary phone consultation.