Ep. 96 – What Happens to My Money if Something Happens to My Advisor?

Have you ever asked yourself what would happen to your money if something happened to your advisor? This is a common and very legitimate question to ask.

It is important to keep in mind that nothing’s going to happen to your money, whether you’re working with independent advisors like us or a larger institution. Your money is housed by a custodian and will still be there if something does happen to your current advisor.

In this episode of the Secure Your Retirement podcast, we carefully explain the scenario that would occur if your advisor were to be “hit by a bus”. We cover how teams are set up to ensure there’s a continuity plan and the decision you’ll be needed to make as the client. 

In this episode, find out: 

  • Understanding that your investment isn’t with your advisor but with a third-party custodian. 
  • You’ll get a new advisor/team if your money is either under a large company or independent advisors.
  • The decision you’ll have to make whether you want to work with the new advisor/team. 
  • How to ensure that your philosophy and values align with the new advisor. 
  • The scenarios that happen if your advisor were to retire. 

Tweetable Quotes:

  • “If you have multiple advisors in one office and something happens to one of them, usually the philosophy is still the same.”– Murs Tariq
  • “Ask your current advisor or new advisor what their continuity plan for their team is.” – Radon Stancil

Resources:

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit POMWealth.net/podcast.

To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to morgan@pomwealth.net.