Financial Advisor Second Opinions

Do you Want/Need a Second Opinion on your Financial Advisor's Plan?

The vast majority of investors hire a financial advisor to oversee their investment portfolio in an effort to preserve their principal investment and increase their overall returns. Retail investors typically retain a financial advisor because the advisor is a subject matter expert who can emotionally divorce themselves from the investor’s financial situation. The financial advisor’s sole responsibly in to monitor the markets and make adjustments to your holdings to ensure your portfolio grows. That seems like a very straight forward task … but is it?

Placing reliance on one person, or the advisor’s small team, is critical; however, how do you know the advisor’s recommendations are in line with your investment objectives, risk tolerance and investment time frame? How do you know if the securities being offered are suitable your you and your overall portfolio? How do you know if you are mitigating investment risks?

Most investors have a great deal of confidence in their advisor, and have built a relationship with the advisor over time. They believe the advisor is working with the investor’s best interest in mind and properly managing the client’s investment portfolio. There must be a level of trust and confidence with the advisor. What most investors do not do, however, is get a second opinion from an objective third-party who can assess the overall suitability of the plan implemented by the financial advisor. In the medical context, a second opinion is routine to make sure the first doctor’s opinion is correct and on-point. Why would you not get a second opinion on your advisor’s plan and strategy?

A second opinion will give you an added layer of trust and confidence in the plan implemented by your financial advisor. There is little downside in having an objective third-party review the investment plan for suitability to make sure you are covered in the event of a market shift. In fact, your financial advisor should invite and embrace this type of review in order to deepen the trust and confidence you have place in them.

We are a law firm that represents individual investors. We are not financial advisers, registered representatives of a broker-dealer or investment advisor representatives of a registered investment advisor. We do not sell securities and we cannot provide investment advice. Most individuals who offer second opinions on your investment portfolio are looking to win your business. They want you to move your portfolio to them for a management fee. Our objective is to make sure the financial advisor you are currently working with has implements the best plan and strategy for you based on your investment objectives, risk tolerance and investment time frame. Our objective review will provide you with peace of mind and comfort knowing you are on the right path.

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If you are interested in obtaining free consultation, please contact The Schwartz Law Firm at
(813) 226-3372 or email Matthew Schwartz, Esq. directly at [email protected].

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