What Your Financial Advisor Isn't Telling You

The 10 Essential Truths You Need to Know About Your Money

Liz Davidson

• Publisher: Mariner Books
• Year: 2016
• ISBN:
  9780544633346
• Topic: Personal Development
• Subtopic: Personal Finance

Protect your money with this "accessible and practical" guide to hiring and working with financial advisors ( Publishers Weekly, starred review). Hiring a trained expert to safeguard and grow your wealth seems like a foolproof decision, but it can go awry for many people. You should never blindly trust that your advisor has your best interests at heart—and while there are many benefits to working with a financial pro, there are some things you should know first. Drawing on her insider's knowledge of how the financial advice profession really works, Liz Davidson shows how to judge whether an advisor is going to help or harm your savings. This no-nonsense guide covers questions such as:

• How should you decide if you really need an advisor?
• What financial moves can you make without their help?
• What important questions should you ask before trusting them with your money?
• What are the red flags you should run from?
• What does all their jargon really mean?

Learn how to take control of your financial well-being—either with a financial advisor or without one. "This book is mandatory reading for anyone who wants a better understanding of how to manage their money." —Mary Beth Franklin, InvestmentNews "Valuable tools for managing one's personal finances for maximum results." — Publishers Weekly, starred review

Index

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A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

A

accountability, 27–28, 113, 145, 156, 208

activism, social, 208–12

adoption assistance, 12

advance health care directive, 133, 172, 219

advisors. See financial advisors

Alliance of Comprehensive Planners (ACP), 174, 192, 216

American Academy of Estate Planning Attorneys (AAEPA), 174

American Institute of CPAs (AICPA), 72, 105, 174

annuities, xi, 63, 66, 166, 205

antiques, 18, 47, 147

apps, 38, 137, 191, 218

aspirations, 127–28

assets

feelings or attitudes about, 127–28, 146, 148, 149

hard, 18, 47, 147, 149

“keeping up with the Joneses,” 23

living the high life, 120, 121

living the simple life, 15, 148

stockpiling, and global meltdown, 90

assets under management model, 203–5

Association of Independent Consumer Credit Counseling Agencies (AICCCA), 48, 216

attorneys. See legal assistance

auto-escalation, 20, 21, 141

automatic transfer

to emergency savings, 16–17, 49, 138, 214

to employee benefit contribution, 15, 20, 140–42

to investment accounts, 126, 141–42

to pay bills, 49

to pay off credit card debt, 38, 139, 145, 150

automation of the wealth-building process

the catch, 145

how to auto-think, 150–55

how to make your good habit stick, 155–61

overview, 135, 136–37

six types of financial identity, 145–50, 152, 155

step-by-step guide, 137–42

where you’ll be, 142–44

auto-think, 150–55

B

backups, of financial information, 106, 107, 159

balance of po...

Table of contents

• Title Page
• Contents
• Copyright
• Dedication
• Author’s Note
• Introduction
• Keep Your Money Where You Make Your Money
• Paying Off Debt: Your Best Investment
• Beware of Bogus Advisors
• Avoiding the Worst Investments: The Best-Performing Mutual Funds
• Taxes: Why Your Investment Statement Is Not Entirely Accurate
• Your Life Partner May Be Your Worst Financial Enemy
• Become an Automatic Millionaire Without an Advisor’s Help
• How to Find the Right Advisor for You
• Holistic Wealth: The Path to Financial (and Physical) Health
• Follow the Money Trail to a Better Financial Future
• Appendix: Financial Independence Day Checklist
• Acknowledgments
• Index
• About the Author
• Connect with HMH
• Footnotes