Financial advisors have an important task of advising clients on making smart investment decisions, sometimes though these financial advisers can make serious mistakes. This column discusses some of the ways advisers can avoid or minimize some of the more common mistakes. Firms should adopt a standardized and comprehensive process for reviewing a client’s information. It is extremely important to keep up with the latest technology and to have a way to organize a client’s information in both a digital and paper format. Financial advisors should also provide clients with a checklist to make sure all the necessary documents are in order.
See Glenn G. Kautt, Advisors Mess Up Too: How To Prevent Planning Errors, Financial Planning, June 25, 2015.
Special thanks to Jim Hillhouse for bringing this article to my attention.
