7 Biggest Mistakes People Make When Choosing a Financial Adviser
From the Recaps Archives, originally posted on 5/30/2019
7 Biggest Mistakes People Make When Choosing a Financial Adviser
Matt Wiley | APR 26, 2019
Choosing a financial adviser is a big decision.
Being aware of these seven common blunders when choosing an adviser can help you find peace of mind, and avoid years of stress.
1. Hiring the First Adviser You Meet
While it’s tempting to hire the adviser closest to home or the first adviser in the yellow pages, this decision requires more time. Take the time to interview at least a few advisers before picking the best match for you.
2. Choosing an Adviser with the Wrong Specialty
Some financial advisers specialize in retirement planning, while others are best for business owners or those with a high net worth. Some might be best for young professionals starting a family. Be sure to understand an adviser’s strengths and weaknesses - before signing the dotted line.
3. Picking an Adviser with an Incompatible Strategy
Each adviser has a unique strategy. Some advisers may suggest aggressive investments, while others are more conservative. If you prefer to go all in on stocks, an adviser that prefers bonds and index funds is not a great match for your style.
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3 Savings Moves To Make Post-Fed Rate Hike
By Matt Richardson September 17, 2026 CBS News MoneyWatch: Managing Your Money
With interest rates rising again, savers will want to take certain steps now to take advantage.
Savers on Thursday woke up to a new financial climate marked by the first interest rate hike from the Federal Reserve in more than three years. Now at a range between 3.75% and 4.00%, a new, higher federal funds rate is expected to lead to even higher rates for savers than they've already been accustomed to in recent years. And while that change will look different based on the account type and the bank in question, savers are undoubtedly now entering a more profitable period, especially if the Fed proceeds with another interest rate hike when it meets again in October.