A couple meets with a financial advisor, looking worried at a tablet screen.

Personal finance and Thanksgiving:

We all recognize the wisdom of avoiding any discussion of politics and religion during a family dinner. Some of us prefer to keep certain things private, while others may be more open to sharing without the required prompting. Yet whenever people get together, there’s always that one person who starts giving unsolicited financial advice and even investment advice, in a soft, muffled voice and insists on referring you to their advisor.

It’s nearly impossible to refrain from indulging in financial discussions when we’re bombarded with varied and often conflicting predictions about the outlook for our economy and stock market volatility. Worries are not too far from reason when we feel the burden of making sound financial decisions to protect and maximize our wealth potential. So, at the end of the day, a referral to a financial adviser, whether solicited or unsolicited, may not be so unreasonable, especially if it comes from someone close to you.

A couple meets with a financial advisor, looking worried at a tablet screen.

In fact, that’s how most people start their search for an advisor, a recommendation from an aunt, uncle, or their favorite accountant. However, should you entrust your savings to another person based on a simple suggestion?

We are inclined to trust those around the proverbial dinner table. Yet even if the experience with their financial advisor was successful, what assurance do you have that the same advisor will provide you with similar results or that your uncle has even performed significant due diligence on his advisor?

#Personal #finance #Thanksgiving

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