“Breaking up is hard to do”

Everyday, we hear comments from frustrated consumers who are looking for an advisor who is proficient in the area of retirement income planning.  Remember – and this is critical – I am not referring here to ‘retirement planning’, which many advisors do.  I am specifically referring to retirement ‘income’ planning, and that art and science is effectively practised by very few at this point in time.

It may become apparent to you that it is in your best interest to make a change from your current advisor or institution, and this will probably mean moving your investments to another advisor. While this occurs in the industry every day, it is likely not something you, personally, have done often. As the saying goes, “breaking up is hard to do,” and while you may feel a bit awkward about ending a relationship with your existing advisor, remember that this is not about them. It is about you and what you feel is in your best interest. No advisor likes to lose a client. But you do need to coordinate the planning with the investments, and if this can be done in a better way for you elsewhere, then you should consider making a move.

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