What should you know about your financial advisor? As part of the Dodd-Frank banking regulation, the SEC was tasked with talking to individual investors to gauge the breadth of their knowledge about various financial and investing topics, and one of the most interesting areas of the survey, released last week, touched on what people felt they should know about the professionals who handle their money.
The top three subjects that investors considered "absolutely essential" to know about their advisor:
* Information about their advisor's fees: 76.4 percent said this was absolutely essential
* Information about their advisor's investment strategies: 69.5 percent
* Information about their advisor's disciplinary history: 67.4 percent
All this information is vital to know, and any advisor who doesn't freely release it is someone you shouldn't be working with. If you have any questions about these or any other aspect of what we do here at Echelon Wealth Strategies, please feel free to give me a call.
No comments:
Post a Comment