Here's another post in our series on the learnings from the book The Millionaire Next Door. A quote from page 104:
Why aren't you as wealthy as you should be? It may be because of the way you operate your household. Would a business, especially a very productive one, ever hire a key employee without doing a serious background check and an in-depth interview? No! Yet most people, even those with high incomes, hire financial advisors after obtaining little or no background information about these "employment candidates."
I already have the financial planners of the U.S. after me, so I'll keep my comments to a minimum. However, a good, solid financial planner should have nothing against what I say (or what the quote above says). He/she should welcome scrutiny and hope that it happens more often. That way, the salespeople who pose as financial planners can be exposed and the "real" planners will benefit by getting more business.
As a review, here are some other pieces I've written about financial planners:
Comments