Is it Time for a Second Opinion?

Recently, we met with someone who was given poor advice.  This individual was in a mutual fund portfolio. And in mutual funds, there are three classes of shares: A, B, and C. This particular individual had mutual funds that were all Class A shares, which unbeknownst to them, pay the highest commission to the broker. They were unaware that they were paying the highest fees and that their financial professional did not have their best interest in mind.

A simple way to find out if your financial professional is working in your best interest is to ask the following question: “Are you acting in my best interest here?” Then ask if they would be willing to sign a pledge that says they are going to act as your fiduciary at all times with all products, and if not, then you are going to leave.  It is really just that simple.

If you were given similar advice, or you are not confident with your current portfolio and the fees you may be paying, maybe it is time for a second opinion. Not from just any financial professional, but from an advisor who has a fiduciary responsibility to give financial advice that is 100% in your best interest. What most people want is to be given advice and recommendations that are in their best interest and I truly believe that good advice should save you money.
If you would like to visit with us and get a second opinion on your retirement plan, please give our office a call (775) 853-9033, we would be happy to help you. 
Cornerstone Retirement Group