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    Evaluating your finance team

    Are you getting good or bad advice?


    The differences

    The million-dollar question is, “How can you tell the difference between good and bad advisers?

    Traits of good advisers

    1. They proactively bring new ideas to your advisory team (CPA, financial advisor, etc.);
    2. They participate in annual planning reviews with you and the rest of your team;
    3. They welcome new ideas that come from other advisers;
    4. They see second opinions (of their work) as ways to meet new referral sources;
    5. They are willing to admit they made mistakes — and want to help fix them.

    Signs of a poor client-adviser relationship

    1. The advisers review ideas you bring them. They don’t proactively bring you new ideas;
    2. The tax, legal and financial advisers don’t all meet with you together at once, annually;
    3. The adviser charges you to research an idea, instead of asking another expert;
    4. The adviser asks you to sign nondisclosure agreements. These are red flags with the IRS;
    5. You are one of the adviser’s wealthier clients. You need to be the smaller fish in a bigger pond.



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