BiggerPockets Money23 Feb 2024

505: Need a Financial Advisor? Start Here!

Most financial advisors aren’t what they seem. They paint themselves as stewards of your financial security, carefully analyzing every investment they put your money into. But that’s far from the truth. Many financial advisors simply use you to make a quick buck, leaving you worse for wear when it comes to retirement. So, how do you find a financial advisor who will actually help you build wealth without filling their own pockets at your expense? We’re about to give you the roadmap to finding the perfect financial advisor.

We’re back with Jeremy Schneider, the bootstrapped founder who became an overnight millionaire thanks to a decade of tough decisions. This time, Jeremy shares about the world of financial advising, ranking the types of advisors from worst to best and sharing why that life insurance policy might be a BAD financial decision.

If you’re struggling to find financial advice from a neutral third party who truly wants the best for your finances, this is the episode to listen to. Jeremy talks about the two financial advisors to never trust, the costly difference between fee-based and fee-only advisors, the financial “meth” that could cost you in the long run, and exactly where to find a financial advisor that truly works for YOU.

In This Episode We Cover

The four types of financial advisors and the two you MUST stay away from

Fee-based vs. fee-only financial advisors and why you CANNOT afford to mix these up

The “whole life insurance” scam that’s trapping many Americans with false financial promises

The sneaky commissions financial advisors make that you have no idea about

One place you can go to find trusted financial advisors with NO strings attached

And So Much More!

Links from the Show

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Past Episodes Mentioned in Today’s Show:

Michael Kitces

A Purple Mom

Life Insurance (Joe Saul-Sehy)

Whole Life Insurance (The White Coat Investor)

Click here to check the full show notes: https://www.biggerpockets.com/blog/money-505

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