The Four Critical Times to Speak with a Financial Professional

“I wasn’t sure if I should speak with a financial professional,” a new client explained, “because I didn’t think there was anything you could do.” She continued, “But then I read your article, Retirees Fired by Their Brokers in America, on the same day that I got a letter from my brokerage firm telling me that since I live in Israel, I could no longer be their client.”

When should I call?

  • If you have a problem with your investment account, like the brokerage firm is kicking you out, get in touch with a cross-border investment company. (Get the free Toolkit for Opening a U.S. Brokerage Account from Overseas at Profile-Financial.com/toolkit)
  1. If you feel nervous that your portfolio might lose value, or if it already has dropped, have a “goals and risk tolerance” discussion with your advisor.
  2. If you have a lot of cash sitting in the bank or in other accounts and you’re not earning interest on it, ask to see alternatives that could make you more money.
  3. If you have a life event, like retirement, marriage/divorce, receive an inheritance, or if your financial situation has or may change (like you’re getting a new job or thinking of moving), call a financial professional. Any sudden inflow or outflow of funds warrants a discussion with your financial advisor.

Licenses are important

Since no one can guarantee investment returns, be wary of investing advertisements that boast “low risk and high yields.” There’s simply no such thing. Stay away from anyone, emails, and websites that purport to have the answer to all your financial problems. On the other hand, a skilled, licensed financial professional can not only guide you to make smart investments, he can also handle the details for you.

You should have a comfortable and friendly relationship with your financial professional, such that whenever you have a question, you feel free to call. If you’d like to start a conversation with me about your U.S. dollar investments, call (02) 624-2788.

You May Also Want to Read:

  1. The Not-So-Secret Secret Tool I Use to Help Clients Make Money
  2. Did You Inherit Your Broker With the Inheritance?
  3. How Many Financial Advisors Should You Have?
  4. The Critical Questions Successful Investors Ask Their Financial Advisor

Douglas Goldstein, CFP®, GFP®, is the director of Profile Investment Services, Ltd. www.profile-financial.com. He is a licensed financial professional both in the U.S. and Israel. Call (02) 624-2788 for a consultation on how to set up your American assets to meet your financial goals. Securities offered through Portfolio Resources Group, Inc. Member FINRA, SIPC, MSRB, FSI. The opinions expressed are those of the author and not those of Portfolio Resources Group, Inc. or its affiliates. Neither PRG nor its affiliates give tax or legal advice.

Published February 7, 2019. Updated August 2023

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