Financial Advisor: You Should Be Getting Much More Than Just Investment Advice For 1%

If you enjoy hearing about how to keep your financial professionals honest, I recommend listening to my conversation with Zacc Call about the secrets to knowing which type of financial professional you are dealing with. ( • How to Tell Which Fina... )
Zacc's Podcast: The Financial Call:
www.thefinancialcall.com/guid...
Reach out to me here:
[e-mail]
Subscribe to the Channel
@theretirementnerds
Join our newsletter for monthly tips, book recommendations, and personal stories!
theretirementnerds.com/newsle...
⏰ TIME CODES ⏰
0:00 Episode Intro
02:50 🚀 Warren Buffet Challenge
6:51 📈 Investment Funds
10:50 👥 Financial Professional Designations
13:58 🤝 Investments Only Advisor Value
17:43 💰 How to find out advisor fees
21:25 🛠️ If you are DIY
23:57 🧠 Vanguard Study on value of investment advisor
32:50 📊 Tier 1: Investment Management
33:48 💸 Tier 2: Income Planning
39:48 🪦 Tier 3: Tax, Insurance, Estate analysis
46:37 🔍 Tier 4: Specialized planning categories
51:50 📉 Losing your gains to advisor fees
56:42 👨 Advisor compensation structures
01:04:01 🚦 Understand the different types of advisor
=============================
#finance #financialadvisor #theretirementnerds
Federal Disclaimer:
We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all your options.
Disclosure:
This podcast is intended for informational purposes only, and is not a substitute for personal advice from Capita. This is not a recommendation, offer, or solicitation to buy or sell any security. Past performance is not indicative of future results. There can be no assurance that investment objectives will be achieved.
Follow the Nerds:
TikTok: / retirementnerds
Instagram: / retirementnerds
Linkedin: / eriksoderborg

[@MCMXI1]

This is one of the best interviews, of any subject, I've ever seen. Aside from the outstanding knowledge and insight that was delivered, it was a real pleasure to hear a guest speak with such clarity and the host be quiet rather than injecting the self validations of "yeah, great point, oh yeah me too, etc. Very well done gentlemen.

[@Theretirementnerds]

Thank you so much for listening!!

[@zacccall9897]

Might be the kindest comment on any of the videos I’ve done. Super thoughtful of you. I’m glad it was both helpful and enjoyable.

[@amandaturner9903]

Wow this is GREAT content! As someone who considers themselves a DIY, but recognizes that there is value in hiring a financial professional when things get more complex, I appreciate how you laid this out so well!

[@Theretirementnerds]

So glad it is helpful! Thank you for tuning in!

[@theoriginalmrs.d538]

Love it when you both tag up to educate! Great information - thanks!!

[@Theretirementnerds]

Thank you so much for watching!

[@davidfolts5893]

Two smart cookies at the top of their game! Thanks very much, gentlemen!!

[@Theretirementnerds]

You are too kind my friend. Too kind.

[@glennboslego1648]

Great video. I real appreciate the way Zacc’s brain works, both from an analytical and communications perspective.

[@Theretirementnerds]

Zacc is the best! Thank you for watching!

[@ellenyamamoto452]

Thank you both, you’ve given such value here and in other videos for free. Zac I binged your podcast to get up to speed when I sort of inherited a financial advisor relationship. I appreciate your training us so I don’t have to feel so clueless anymore! Invaluable! Thank you!!

[@Theretirementnerds]

So glad it is helpful!! Thank you so much for your support!

[@zacccall9897]

Love to hear that!!! Glad it is helping you!!! Funny that we did that podcast for five years without much attention to it and then Eric’s KZbin channel blows it up. 😂

[@candierven9663]

Thanks, guys! Zacc's hands look normal to me!

[@Theretirementnerds]

Looks normal to us too! 🙏😊

[@sideler7057]

Great show, Zacc is very good for an AUM advisor. Can you interview an hourly financial advisor? I'm an advanced DIY'er who might be interested in a comprehensive financial plan discussion to begin with, then an update discussion every 3 or 4 or 5 years. Pricing would be useful, how much do they charge for the initial plan then rates for an hour or two discussion every 4 years.

[@Theretirementnerds]

I've been trying to find one willing to come on! Hoping to get someone soon

[@garyswank1043]

I was waiting for this topic. Excellent!

[@Theretirementnerds]

So glad you enjoyed this! Thank you for watching!

[@Sinisterdaze]

Lol Love the video and his hands look normal!

[@Theretirementnerds]

Right?! Totally normal sized hands ✋️

[@cgmoog]

Great stuff. What is needed, and I'm not sure its possible to do in a YT video, is how does one find and select a financial adviser. I am primarily a DIYer.. I think I am doing everything well but don't know what I maybe missing. How would I go about finding a FA to review where I am and see if there are any areas I should be improving.

[@rhondajones8678]

Normal sized hands in my opinion. You two are great! I love listening to you. I backed out a few months ago because I feel that my situation is so complicated! I would like to talk with Capital sometime in the near future again to get a “second opinion “. Not sure I’m staying where I am currently, because I have lots of doubts for the future and not sure my financial planner is earning his percentage of my portfolio 🤷🏻‍♀️

[@Theretirementnerds]

Thank you! 🙏 So glad it is helpful! Zero rush on any decisions. My email is [e-mail] if you ever want to speak with someone

[@Tradeya]

Great topic! I don't care how small your hands are. Big brain makes both of us $$$

[@Theretirementnerds]

Haha! Thank you so much!

[@husseinabd6937]

Great approach. Thanks you. But what do you think of banks such as Citibank wealth management and they use Franklin Templeton Fund? They assign Financial Advisor to you account

[@husseinabd6937]

Is that route ok? Or better yet to hire a Financial Planner as an overall planner ? In addition to the fees that 1% and what is the upload fees It is a little complicated

[@Theretirementnerds]

Zacc covers that a bit more in this video: kzbin.info/www/bejne/bqamYp-doL-Ijac They would fall more in category 2

[@John-yx4xp]

I followed the example that would have given and how an advisor can't even save you money but what I struggle with is if you have say 3 million portfolio and all in 1.7% fees how does an advisor help enough for the 40g per year cost? Mentally i feel like an advisor makes sense at high worth...but how?

[@Theretirementnerds]

I'll let Zacc jump in when he sees this, but commonly the percentage fee drops with larger asset amounts, which would help. Also, more opportunities in other areas on larger asset amounts outside of just taxes. I'll have Zacc jump in with better answers 🙂

[@Ccwuhccwuh]

Any Capita clients here?

[@danvance9113]

Didn't see his hands, so I can attest to size. lol

[@Theretirementnerds]

Haha, thank you Dan! 🤲

[@kmng3207]

Not small 😃😃

[@Theretirementnerds]

Haha! Thank you!! 🤲

[@marksoberay2318]

Index return about 10% bonds about 6 risk free 5...advisors build you a part bond part stock portfolio that if lucky pays 8% so 3% over risk rate...then they want 1% of portfolio so that's a 33% fee gotta get real when talking money they want 1/3 of your money

[@WallaceDunn]

I’m a big fan of JL Collins advice. I fired my Edward Jones “advisor” a year ago. Good riddance.

[@karltitz1725]

My portfolio varies between 18% and 24% cash balance with the remainder invested equally between actively traded individual stocks in Large Cap, Mid Cap, Small Cap, and International stocks. I pay my financial advisor 1% and .5 percent for the individual segment managers. This is a new approach for me, however given my experience and study of markets I am comfortable with the long term prospect! UNTIL I'M NOT.