Advice You Don’t Want to Hear from Your Financial Advisor

Dec. 30, 2013 - PRLog -- If you've been thinking about hiring financial advisors in Phoenix, you want to make sure that you have a financial advisor who is qualified to offer you the best advice. There’s plenty of useful information that you should receive from your financial advisor, but there are also some things that a financial advisor can say that should serve as red flags that indicate that you might want to start looking for a new advisor.

Financial Danger Zone

  •   If financial advisors in Phoenix ever tell you that you can expect a certain percent of a return on an investment, it is a major red flag. The reason for this is that there’s no way to use past performance as a way to guarantee future results.
  •   You’ll also want to be wary of any advisors who do not set a target rate of return on your investments. If he or she doesn't specify a target return and discuss an acceptable deviation from that target number with you, it may be time to find a new advisor.
  •   Another red flag to keep in mind is advisors who are always switching tactics, suggesting different strategies or recommending hot new investments. This may be a sign that the advisor is suggesting products that will net a profit for them – not you.

A financial advisor can only advise you on how to invest, spend, and save your money, but it’s ultimately up to you to make the final decision about how you use your money. Minyard & Co, P.C. (http://www.minyardcpa.com/) offers professional financial advising services in Phoenix that can help you grow your wealth and build a lasting legacy for your loved ones.

About Minyard & Co., P.C.

Established over 18 years ago Minyard & Co., P.C. has created a powerful professional structure that combines solid client relations with excellent service. We are a dynamic and innovative accounting and business advisory firm providing a wide range of services that enable our clients to succeed in an ever, evolving market.