Formulate a Financial Plan

Know Your Net Worth

Manage & Minimize Debt

Accumulate Assets

Budget to Live Within Your Means

Understand Investing Basics

Plan for Retirement

Insure People & Property

Deal with Financial Advisors

Review Your Employment Contract

Make Plans for Your Estate

Make Good Decisions


Medical professionals can’t diagnose or treat patients without a physical examination and an opportunity to assess the facts of each case. Similarly, financial advisors need access to you and your records to provide the best advice. A good advisor won’t bother you unnecessarily but will occasionally need your undivided attention to ensure your family’s financial well-being is attended to. Thus, if you choose to work with an advisor, you have some responsibilities:

  • Communicate clearly with the advisor
  • Make available necessary records
  • Show up on time to meetings
  • Give your undivided attention to the advisor during meetings
  • Ask for clarification if you don’t understand something
  • Involve your spouse or partner and reach consensus on decisions
  • Make logical, unemotional decisions
  • Convey your decisions clearly and formally

Don’t view this as a list of chores to be avoided. Remember, you’re not doing all this for the advisor. You’re doing it for yourself and for your family.


Get a Second Opinion

A patient who feels uncomfortable with medical advice always has the option to seek a second opinion. Yet many patients feel that getting a second medical opinion somehow betrays, or is an insult to, the original doctor. If you’re facing a major procedure and don’t like any aspect of the initial opinion the right thing to do is to get at least one other opinion.

The same logic applies to financial advice. Even if you’ve had a long and productive relationship with one advisor, it doesn’t hurt to hear other perspectives once in a while. You should certainly get other opinions if you feel uncomfortable with any recommendations you’ve received.

You are the only one who can make the decision to seek other opinions. Don’t shy away from this when warranted.


A final responsibility we all share as consumers: to identify and reward only the good advisors with our trust and money. If we all do this diligently, the bad advisors will have no clients and will be forced out of business. That’s a good outcome for all consumers.