In a recent Washington Post story, columnist Liz Weston describes, “What good financial advice looks like.” Her article begins, “Good financial advice can help you achieve your life goals. Bad financial advice can cost you a fortune and leave you worse off than if you had tried to go it alone.” She suggests the following:
- Good advice doesn’t promise more than it can deliver – don’t believe anyone who claims that they can successfully beat the market.
- Good advice doesn’t promote costly solutions that are complex, opaque or illiquid.
- Good advice isn’t free (or even cheap!)
- Good advice shouldn’t confuse people.
- Good advice comes from advisors who put clients first. Look for RIA, CFP or CPA marks.
We wholeheartedly agree with Weston’s benchmarks and have written previously about how to know if your advisor is working in your best interests. We think her article provides a brief, good-sense list of what to look for if you’re looking for advice. If we can help you with your search for good or better financial advice, please contact us.
Horizon Advisors is a Houston based fee-only wealth management firm. Horizon is a fiduciary advisor. We specialize in helping successful individuals and families understand, organize, and manage their often complex financial situations. Horizon offers integrated financial planning and investment management services.