Choosing the Perfect Retirement Advisor: Expert Tips and Insights | Georgia Advisory Group
Are you wondering what type of advisor you need as you approach retirement? Whether you’re already retired or still planning, this is a crucial question to ask yourself. Many people believe they have their investments and savings under control, especially men who feel confident in handling their finances alone. However, it might be time to reconsider.
Recently, we’ve had many men in their late 60s and 70s come to us, realizing it’s time to let go of financial control. They want to ensure their spouse is well taken care of in the future. But, letting go can be challenging, as they enjoy being involved in the financial process.
Hi, I’m Dave Duley, a 40-year veteran in financial markets and the principal of Georgia Advisory Group. Let me offer you some sound advice on whether you should use an advisor and how to find the right one.
You don’t have to relinquish all control. We recommend peeling off a portion of your portfolio to continue doing what you enjoy. Let the firm handle the bulk of your assets and compare their performance with your own over the first year. This way, you stay involved while focusing on family, travel, and other passions.
Successful people understand the art of delegation, trusting experts to handle tasks they’re better equipped for. It’s essential to let go of ego to create a team of financial experts around you. Wealthy individuals achieve success not by being experts in everything, but by surrounding themselves with a team of professionals, from insurance and accountants to legal advisors, Medicare specialists, and experts in nursing home coverage.
Now, where do you find this dream team of experts? Look for a fiduciary firm that operates on a fee-only basis. This ensures they prioritize your best interests. Find a firm that houses all these experts in one place, including in-house money managers who’ll personally trade and invest your account. Having on-site CPAs allows you to get immediate answers on taxes and maximizing returns. Similarly, insurance experts can guide you on policies and coverage options, including nursing home care.
Don’t just take our word for it. Ask for referrals and contact them to hear about their experiences with our firm and advisors. Making such a decision is daunting, but involving your spouse, regardless of who handles finances, is crucial. Over 60 percent of our clients are women, who, on average, outlive men by 15 years. Their comfort with the advisor and the firm is paramount.
My role is to provide you with excellent advice in making tough financial decisions. Don’t let ego stand in your way of building a team of experts. Remember, their guidance will pay for itself tenfold by leading you in the right direction.
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