Let’s be real, finding a financial advisor you can trust isn’t easy. Most people hire one, then assume everything is being handled behind the scenes. But here’s the uncomfortable truth: not all financial advisors are truly looking out for your best interests.
If you’re nearing retirement and working with someone who only talks about “the market” and never about your bigger financial picture, it might be time for a change.
Here are five reasons you should consider firing your financial advisor.
1. They Only Talk About Investments and Ignore Everything Else
If the only time your advisor calls is to talk about how your portfolio is doing, that’s a problem. True financial planning isn’t just about stocks and bonds, it’s about understanding your entire life.
Your retirement plan, your taxes, your estate, your insurance, your goals…they’re all connected.
My client from Chandler, Arizona, came to me last year feeling frustrated. Their previous advisor had been charging 1% of their portfolio every year but only ever talked about the stock market and their investments, which, by the way, were far more aggressive than they needed to be. There was never any conversation about tax strategy, retirement income planning, or even basic cash flow, just market noise and portfolio performance. By the time I got done building them a personalized plan, we uncovered over $22,000 a year in savings just from aligning their investments with their cash flow and retirement income strategy.
And that’s what happens when your advisor looks beyond the market.
2. They’ve Never Reviewed Your Tax Return
If your advisor hasn’t asked for your tax return, they’re missing half the picture.
Tax planning isn’t something you do once a year in April, it’s something you build into your financial plan all year long. From Roth conversions to capital gains harvesting to optimizing Social Security timing, the difference between good and great retirement planning often comes down to how well your taxes are integrated into your plan.
I can’t tell you how many times I’ve seen people in Scottsdale and Tucson pay unnecessary taxes simply because no one ever coordinated between their CPA and their advisor.
A real fiduciary should not only understand your investments, but how those investments affect your after-tax wealth.
3. They Ignore Your Health Insurance Planning Like Employer Benefits and Medicare Planning
This one surprises people the most.
If you’re still working, your employer benefits are one of the most powerful tools you have, and if you’re nearing retirement, Medicare decisions can make or break your healthcare costs.
Think about it – your 401(k), HSA, Deferred Comp, ESPP, Vested Stock, and group life insurance all play a major role in your long-term plan. And once you transition to Medicare, coordinating coverage and timing can save you thousands over the years.
And a good advisor should be helping you make smart choices in these areas, not just “manage your investments”. So, if your advisor hasn’t reviewed your benefits or your healthcare options with you, they’re not doing comprehensive planning.
4. They Avoid Talking About Real Estate
Real estate is a huge part of a lot of retirees’ wealth, whether it’s a rental property in Scottsdale, a vacation home in Prescott, or a duplex in Phoenix. If your advisor avoids discussing it, that’s a red flag.
Fact is, many traditional advisors shy away from real estate because they don’t get paid on it. But as a flat-fee fiduciary, my job isn’t to sell you something, it’s to help you make the best use of what you already own. If done right, when real estate is combined strategically with your portfolio and tax plan, it can create flexibility, income stability, and powerful tax advantages.
5. They Don’t Help with Cash Flow Planning
I’ve been saying this for years now, “Your cash flow is your blood flow”. It’s what keeps your financial life alive and healthy.
If your advisor hasn’t helped you establish spending targets, understand where your money is actually going, or map out how to make your income last through retirement, they’re not giving you the clarity you deserve.
Because, true financial planning starts with understanding your numbers. From there, everything else falls into place – your investment strategy, your tax plan, your retirement income, and your peace of mind.
To sum it all up
If your advisor isn’t helping you with these five things — investments, taxes, health insurance planning, real estate, and cash flow, it might be time to ask yourself: what exactly am I paying for?
As a flat-fee fiduciary financial planner based in Arizona, I built Singh PWM to fix that gap by giving pre-retirees and families across Phoenix, Scottsdale, Tucson, and Chandler the full-picture planning they actually need.
So, if you’re tired of feeling like your advisor is just “managing your account” instead of managing your financial life, maybe it’s time to find a Personalized CFO.
And guess what?
I think I know just the guy.
Raman Singh, CFP®
Important Disclosures
The information provided herein was obtained from sources believed to be reliable and is believed to be accurate as of the time presented, but it is provided “as is” without any express or implied warranties of any kind.
This material is intended for informational and educational purposes only and should not be construed as individualized investment, tax, or legal advice. You should consult with your own qualified investment, tax, or legal advisor before making any decisions based on this material.
Investing involves risk, including the possible loss of principal. Past performance is not indicative of future results. Withdrawal strategies and tax outcomes will vary depending on individual circumstances, account types, tax brackets, and market conditions. No strategy can guarantee success or prevent losses.
Investment advisory services are offered through Singh PWM, LLC, a registered investment adviser offering advisory services in the State of Arizona and other jurisdictions where registered or exempted.Singh PWM, LLC is a registered investment advisor offering advisory services in the State(s) of Arizona and in other jurisdictions where exempted. Registration does not imply a certain level of skill or training. The presence of this website on the Internet shall not be directly or indirectly interpreted as a solicitation of investment advisory services to persons of another jurisdiction unless otherwise permitted by statute.
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