
By Edward P. Mahaffy, MBA, CFP®, ChFC®
How to Select a Financial Advisor: The Least You Should Know
The questions to ask about what you own, what it costs you, and whether the person advising you is obliged to act in your interest.
About the book
Ed Mahaffy’s quest to build a business for his clients led to him writing How to Select a Financial Advisor: The Least You Should Know. The book discusses how to evaluate whether an advisor is obligated to act in a client’s best interests.
Differentiating among the many types of financial advisors is difficult. What should you be looking for in a financial advisor? How can you find an advisor who will work in your best interests? Ed teaches you how to find the right advisor for you.
From the book
Questions you need to be asking
If you can’t answer these basic questions about your investments, then you probably need assistance. If you have a financial advisor, and he can’t (or won’t) answer these questions, then you need another advisor:
- 01
What investments do you own?
- 02
Why do you own those investments?
- 03
What is the true cost of ownership of those investments?
- 04
Does your financial advisor have a legal obligation to always act in your best interests?
- 05
What is your true cost of receiving financial advice?
- 06
What are your alternatives for investment products? What are their costs?
Learn how to take control of your investments, your financial future, and your relationship with your financial advisor with How To Select A Financial Advisor: The Least You Should Know.
What people are saying
On the book
If you want a friend, get a dog. If you want help managing your money and turning it into wealth, hire an investment advisor. In this little book, Ed Mahaffy offers advice on how to get advice—how to hire the right advisor, and how to avoid the ones that are wrong for you. He also explains the fundamentals of investing--where to put your money for safety and for growth, and how to get a little of both.
The electronic and physical bookshelves are chocked full of investment advice. So many investors jump in and hire brokers, advisors and wealth managers without hedging the advice...without knowing the facts. How to Select a Financial Advisor clarifies the information you need to know. Read the book. Commit the chapter titles to memory, and you will make and keep more money.
For a quarter century, investors relied on an unprecedented bull market to make their financial dreams come true. That strategy came to a grinding halt when equity returns reverted to the mean. Now, savvy investors are realizing the wisdom of relying on a trusted financial advisor to help them reach their financial goals. But which advisor should you choose, and which one should you avoid like the plague? In his common-sense book, Ed Mahaffy guides you through one of the most important financial decisions you will ever make--choosing the right financial advisor.
Whether you are an experienced or novice investor, this book has plenty to offer. It is easy to read and full of information on the myriad of financial instruments available, along with critical information about choosing a financial advisor.
These are endorsements of the book by its reviewers. They are not statements by clients of ClientFirst about the firm, and they do not describe any client’s experience or results.
The author
Who wrote it, and why it exists
Ed Mahaffy gave up six securities licenses in 2007 to launch ClientFirst as a fee-only fiduciary practice, and has not held a commission-bearing license since. The book is the argument behind that decision, written for the person on the other side of the desk.
Or start with the 15-minute call
The book answers what to ask an advisor. The call answers what your own situation needs. Neither costs anything.