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5 Things an Advisor Should Expect from a Client

5 Things an Advisor Should Expect from a Client

 Regina Financial Advisor trusted regina

Worby wealth Management a Trusted Regina Financial Advisor talks about Client Advisor relationships.


Last time I talked about 5 things you should expect from your Advisor so this time it’s time to turn the tables: What should your advisor expect from you. Here we go:


  1. Full Disclosure. We humans like to protect ourselves from vulnerability. We feel the peeling back of the layers of our personal information to be invasive and painful. If you consider a trip to your doctor though, and think about getting treatment for a rash without telling them you were just in the woods and there was poison ivy there, it makes no sense. The same thing is true for us and is why trust is such an important part of our process.
  2. Tell us the little things too. When you move or change your bank account, let us know. When you are thinking about buying a cabin, ask us for advice – we’ve seen people do it, we can probably point you in the right direction. I can’t tell you how many times I’ve heard someone say, “I didn’t know you knew about that stuff!”
  3. Commitment. Some things are not easy. Market cycles work over the course of 6 to 8 years; this 4 month period may or may not work out but you have to trust the process. Switching to cash instead of using credit cards is hard to do but you have to trust the process. “Nothing worth having comes without some kind of fight,” is an old lyric but is just as true for finances as for anything else.
  4. Relationship. This one is in both lists. I am not a robot and neither are my clients – we’re people and like to interact like people! If you want to pull out pictures of your kids, great; here are some pictures of mine too! Enjoying who you are working with is at least half of making finances interesting.
  5. No Magic. There is no wand that fixes budgets or crystal balls that can foresee the market. Much of what we work on in our industry is probability and math. Budgets are simple addition and subtractions: you bring in x dollars, you spend y dollars. If x is more than y, we’re good. If not, there’s trouble and, while I can find efficiencies because I know about these things, I can’t ‘fix’ bad spending habits. Equity and bond markets are variable things that move up and down – all we can understand is the probability of an investment being suitable to your goals, not how they will act tomorrow or next week or over the next year. No magic, unfortunately.


Ultimately, our clients choose us as much as we choose them. If these types of expectations are not in line for you, it may be time to bring them up to your advisor. I know if any of my clients felt I was not holding up my side of the bargain I would certainly want to know so I could make adjustments; it is a relationship after all, not a transaction.


Next week is going to be about financial security again – the 25% rule; I’ve never seen it fail!


June 23, 2015

Chris Worby is a Trusted Regina based financial advisor servicing local Regina households and businesses since 2001.

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