How is Financial Advice Like Medical Care? - #2 Lack of Cost Transparency

For better or worse, modern medicine and financial markets are both big businesses these days.?

Your physical and financial health are two of the most critical aspects of your life, so great care and attention are paramount.

This is the second of 5 short articles explaining the similarities between financial advice, and the guidance given by your trusted physician. Check back next week for the next one!

----------

Cost transparency: What is the actual cost to receive services? How much should the services actually cost?

----------

I think this one needs no further explanation!? Have you ever asked a doctor how much an appendectomy will cost, or asked your human resources manager about the “all-in” expenses for your 401(k)?

Many investors are hesitant to ask their advisor about their "all-in" fees, because the total fees can seem complicated and confusing for people who do not deal with them every day.

You should feel 100% comfortable asking your advisor or plan administrator to lay out each of the fees line-by-line. Professional advisors should be able to answer your questions easily and also should be able to explain the value you are receiving for the fees you are paying.

You deserve an advisor who takes the time to get to know you and your family.? You deserve an advisor who makes decisions with you, not for you.? To schedule an introductory 15-minute call or virtual meeting, click here.? To request a fee analysis, please click here.