Dealing with Financial Advisors

Personal Finance Essentials Series | taught by Yuval Bar-Or

Course description

Whether or not you’re a fan of financial advisors (brokers, insurance agents, wealth managers, etc.), at some point you’ll have to deal with them directly. To do this successfully, you need to be familiar with the basics of financial literacy.

You can, of course, choose to minimize your reliance on advisors by gaining enough knowledge to make more decisions on your own. This is the do-it-yourself (DIY) path, which has some advantages and disadvantages.

You can also opt to obtain advice from your colleagues or peers. Many medical professionals elect to do exactly that. While appealing for several reasons, this approach has significant flaws.

The decision to use an advisor is a big one. If you’re going to outsource some of your financial planning needs, make sure the licensed professional has appropriate skills, is well aligned with your interests, and charges appropriate fees.

Yuval Bar-Or
Yuval Bar-Or
Professor, Johns Hopkins University, and Founder of Pillars of Wealth Initiative