Should You Keep Your Current Advisor?

Should You Keep Your Current Advisor?

August 31, 2019
  • Somewhere along the way you might have heard somebody say:

“Man, I hadn’t thought of it that way. I hadn’t heard that before. I hadn’t seen that perspective before.”

Maybe you learned something.

Whatever it is, maybe you saw something that you hadn’t been exposed to in the past and this blog post addresses why that is, specifically about financial advisors

There was an article I recently read that said:

...“even if you have a good relationship with your financial planner, perhaps especially if you do, now’s the time to consider if the person helping you prepare for later life really is the best person to get you through that period?"

"And the answer frankly is often no."

"For the past 30 years the majority of financial planners have been doing primarily one thing, helping millions of baby boomers build a nest egg. That’s good. We needed that."

"The problem is the distribution phase of retirement, the time when you withdraw those funds from savings, it makes the accumulation part look like child’s play. Once you retire you can’t afford a portfolio or an advisor to just ask you to sit patiently through bear markets.” *

Said another way, the financial world really has, at its core, two types of financial professionals:

First is the Growth and Accumulation group.

Second there is the Preservation and Income group.

The first group is all about building up your nest egg.

The second group, on the other hand are the ones who say:

Ok, you’re retired or you’re almost retired. It’s time to start shifting gears and start planning differently because once you retire it’s not the same.”

Think about it…You don’t have that income to rely on anymore.

It’s a different world and because retirement is a fundamental shift in your life, naturally it makes sense this shift should at least be considered with your financial planning

Are you beginning to see the difference?

Think of it like this:

When you were little you went to a pediatrician. If you played sports in school, you had a coach. Both gave you the help you needed at that stage of your life regarding what to do with your health or developing your athletic abilities.

However, you outgrew them once you got older. You needed people who could advise you career wise, health wise, etc.

This way of seeing things also applies to your retirement planning.

I know we can’t be all things to all people we meet, but we can be all things to some people.

That’s why Denny and I have chosen to focus on Baby Boomers and their retirement. a.k.a., the distribution phase.

If you’re not sure what type of advisor you have, ask them:

  • How will we create income in retirement? 
  • What potential sources of income will I have if there is another significant economic downturn? 
  • What would things look like if markets fall 50%? How would I get income? Do I have any guaranteed income streams built in?

I think you get the point, so if you’d like to come visit with us and talk about your situation, consider this an invitation to do so.

After all, it doesn’t cost you anything and there's no obligation.

We will look specifically look at how you would get income if you retired today based on how you are set up and give you some helpful input.

Maybe you are wondering why we would do all that?

We do it because we are looking for a few good relationships.

Not everyone who comes in will be a good fit, however some will.

We’re happy to visit with you and help get you whatever information you need and in the process find out if we are a good fit for each other or not.

Either way, we will give you our best in our time together.

You can contact me directly by email at or call 732-455-9990.

Best to you always,

Artie "the Distribution Guy" Bernaducci 😉