On this episode of "On the Money," Paul Ruedi and Ryan Repko, CFP® discuss things to consider when choosing a financial advisor. They also answer listener questions about trusts and funding college for grandchildren.
(1:35) First half of 2023
(4:50) Many people call themselves “financial advisors”
(6:58) Useful filter when choosing an advisor: are you a fiduciary?
(10:01) How long has the advisor been in the industry?
(10:51) How is the advisor compensated?
(14:50) What is the advisor’s investment philosophy?
(31:25) What is the advisor's process for investing?
(35:18) Listener question: Can you give a layman’s definition of a trust and when a person should use one?
(41:21) Listener question: What is a good option for establishing a college education fund for a newborn grandchild?