In this podcast episode, I will provide compelling reasons for you to seriously consider the benefits of hiring a financial advisor. Why it is important to avoid high fees and commissions. To comprehend the potential value that advisors can offer, we examine studies conducted by Canada, Vanguard, Morningstar, and Envestnet PMC. Hiring a financial advisor can bring peace of mind, as it helps us uncover the unknowns we didn’t even realize existed. Hiring a financial advisor can provide valuable assistance in various aspects of your financial planning. They can help you create a comprehensive retirement plan, guide you in asset allocation and risk management, assist with investment management, cash-flow planning, and income sourcing. Additionally, they can offer expertise in tax planning, charitable giving strategies, and estate planning concepts. A financial advisor can also provide behavioral coaching to help you make informed decisions. After listening to today’s podcast, I hope that many of you will consider exploring the benefits of working with a financial advisor to optimize your financial well-being.
The Retirement Budget Calculator is an intuitive tool that promises ease and accuracy. However, like any tool, user error could potentially lead to costly mistakes. To avoid this, let the experienced advisors at Parker Financial LLC guide you.
When you hire our team, we offer a comprehensive review of your current investments, taxes, and the data in the Retirement Budget Calculator. We will ensure your plan’s completeness and accuracy, helping you create an investment strategy, assist with tax planning, and monitor your plan to maximize your retirement benefits.
At Parker Financial we offer a well-crafted retirement investment strategy, deeply rooted in academic data and financial science which can be the key to a prosperous retirement.
Don’t leave your future to chance. Take the first step towards a sound retirement. Schedule your complimentary discovery session now by visiting Parker-Financial.net let us help you make the most of your retirement years.
Jason’s new book is now available on Amazon.
Retirement Calculator – How Much Money Do I need To Retire?
Articles, Links & Resources:
Canadian Investors Value Advice
The Balance: Is It Worth It To Hire A Financial Advisor?
Morningstar: Alpha Beta and Now Gamma
Dalbar QAIB: Investors Are Still Their Own Worst Enemies
Envestnet PMC: Capital Sigma, The Advisor Advantage
Morningstar: Jack Bogle, The Cost Matter Hypothesis
10 Questions To Ask When Hiring A Financial Advisor
Transcript:
Announcer: [00:00:00] Welcome back America to Sound Retirement Radio, where we bring you concepts, ideas, and strategies designed to help you achieve clarity, confidence, and freedom as you prepare for and transition through retirement. And now here is your host, Jason Parker.
Jason Parker: America, welcome back to another round of Sound Retirement Radio.
So glad to have you tuning in to episode number 417. I’m going to be covering chapter 12, hiring a financial advisor. But before we get started, I like to renew our mind. And I’ve got a verse here for us from first Timothy chapter six, verse 18, command them to do good, to be rich in good deeds and to be generous and willing to share what side of the Turkey has the most feathers.
The outside, be sure to visit soundretirementplanning. com and click on episode number 417 for articles, links, and resources mentioned in today’s show. In today’s podcast, we’re going to learn about hiring a financial advisor. I’m going to discuss fees. I’m going to help answer the question. Is it [00:01:00] worth it to hire an advisor?
I’m going to look at the alphabet soup of financial advisor credentials. And I’m going to give you questions to ask when hiring a fiduciary financial advisor. Next week in chapter 13, I’m going to share thoughts about the future of finance, how artificial intelligence will transform planning and investments.
Chapter 12, Hiring a Financial Advisor. The Retirement Budget Calculator was developed for the do it yourself money nerd. However, according to the data that we’re going to look at in more detail, those who utilize an advisor do considerably better than those who don’t. We want to foster financial literacy and the greatest possible outcomes for people.
For the majority of people, this implies that they should engage in the services of a financial advisor. This chapter is designed to help you understand why working with an advisor can be beneficial and what to look for when choosing one. One of the mistakes that many people make when working on the retirement planning is they ask for the advice of a family member, a [00:02:00] friend, a coworker, or even a general financial advice giver.
And while these individuals may genuinely want to help, chances are they don’t know all of the specifics about your situation to provide you with expert advice. All they are equipped to do is to tell you what worked for them and to offer their opinion. Retirement involves many different areas of expertise.
You must consider how to maximize your social security, pensions, and other income sources, as well as create tax efficient income. A financial advisor should be trained in how to preserve a lifetime of hard work and make a plan so that you don’t run out of money during your lifetime. A skilled practitioner will be looking at your investments, insurance, estate plan, entitlements, pensions, inflation, and taxes to make sure that every area of your financial life is coordinated and optimized so you will feel confident in your ability to meet your goals.
The decisions you make as you transition into and through retirement will be some of the most important that you [00:03:00] may ever make. Remember, you may spend as many years retired as you did working. 25 years of unemployment is a long time, and you won’t be adding to your investments anymore. What you have is what you have, and you need to make sure it’s going to last as long as you do.
The last thing you want to worry about is having to go back to work after 10 years of retirement because you made a financial mistake. It’s not fair to your friends and family members to place the burden of your questions on their shoulders. Instead, make sure you find an expert who specializes in retirement planning.
Avoid high fees and commissions. You need to understand the impact fees can have on your investment portfolio. By diversifying your investments, you are diversifying your investments for principal preservation and growth. However, you are also moving your investments to fee efficient accounts. If you had all your investments in no load mutual funds, and the average fee on those funds was half a percent per year on 1, 000, 000, your annual expense would be 5, 000.
If you’re paying an advisor an additional 1 [00:04:00] percent per year, then you’re looking at a total annual expense of 15, 000. An advisor’s fee will be disclosed and should be easy to understand. If you currently own funds, it can be hard to uncover all of the fees that you’re paying. Of course, your prospectus will list fees, but a quick way to help uncover all of the fees that you’re paying is to use a tool at personalfund.
com. It compares exchange traded funds versus mutual funds and helps you to uncover all the fees. I’m a fan of low cost investing using asset allocation as the foundation for maximizing risk adjusted returns. Jack Bogle is one of my heroes in our industry and an advocate for smaller investors. Vanguard built its firm around low cost index mutual funds and currently is one of the leaders in exchange traded funds.
ETFs. Both vehicles have advantages and disadvantages. One common complaint about ETFs is the brokerage fees associated with buying and selling these investments. If you intend to do a lot of buying [00:05:00] and selling within the portfolio of ETFs, then you should consider using a more fee efficient tool to track an index, like the ETF’s close cousin, the Index Mutual Fund, instead.
Today, many firms offer no cost trades on things like ETFs. They are more liquid and can be very tax efficient, which is important for your non qualified accounts. Either choice serves the same basic purpose. Both are excellent vehicles for helping you achieve your long term growth goals. ETFs and index mutual funds can be very fee efficient tools for creating global broad based diversified portfolios.
among asset classes and sectors and they should be considered as part of your overall diversification strategy. Is it worth it to pay an advisor? This is a question of value versus cost, with a price paid for something and then the benefit gained. Some things to consider while you think about this question in terms of paying fees to hire an advisor are, should you be looking for the cheapest financial advisor?
Is finding the cheapest [00:06:00] advisor important to you? Would that be on your list of requirements or qualities when seeking to hire a financial advisor? One of the distinctions I think is crucial to make is the difference between investing fees versus the cost of hiring a financial advisor who takes the whole picture view of your finances.
Jack Bogle, the founder of Vanguard, is quoted as saying, The case for indexing isn’t based on the efficient market hypothesis. It’s based on the simple arithmetic of the cost matter hypothesis. In many areas of the market, there will be a loser for every winner. So on average, investors will get the return of the market less fees.
Bogle preached for years that costs matter. He said they matter more than past performance. Remember the Vanguard group, as well as Vanguard mutual funds and ETFs have been a driving force in helping to drive down investment fees, which has been a good thing for the individual investor. And we’re going to look at some of the other studies released by Vanguard on advisor fees.
Is it possible that some people don’t require an advisor? [00:07:00] I’ve met a few individuals that are fantastic at both financial planning and investment management. They are part of that 10 to 20 percent of people who can consider doing financial planning and investment management on their own. And I recognize that this is a small subset.
These people are similar to those mechanics who like to work on their own car. The mechanic says, I don’t want to hire a mechanic. I don’t want to pay a mechanic’s fees. I’d rather go down to the parts store and buy the parts myself than hire a mechanic. They’re good at it. They have the tools and expertise.
For some people, I believe it’s a viable option to have them create a plan and manage their own investments. But for the majority of Americans, If you consider the studies that have been done, I think you’re going to agree that it’s worth it to pay an advisor a fee. If we look at the value that an advisor can bring to you, it’s more than just investment management.
It’s comprehensive financial planning. This means having someone who looks at all aspects of your financial life. Research suggests that advised investors build more [00:08:00] wealth. There was a survey that was completed in Canada, and the research indicates that advised investors build more wealth when compared to non advised investors.
The study controlled for nearly 50 socio economic and attitudinal differences, and what they found was that after 15 years, people that had advisors versus those that did not have an advisor had 3. 9 times more assets. And advised individuals net worth had improved significantly compared to those who did not have an advisor.
Should you consider paying for an advisor? The Vanguard Group developed the Vanguard Advisors Alpha, which explores the value of working with a financial advisor. It may seem counterintuitive, or even illogical, that the company responsible for driving down investing costs would also be the company responsible for recommending people pay fees to financial advisors.
This begs the question, can we trust Vanguard and their research? Are they a trustworthy company? [00:09:00] Are they attempting to persuade individuals to use financial advisors? Do they have a hidden agenda? Do they have an ulterior motive? There are two sides to this equation. Advisors need to be able to create value, preserve value, and perpetuate it.
If advisors are not doing those, why would an individual continue working with them and paying their fees? That wouldn’t make any sense. Individuals are responsible for understanding what they’re paying in fees, as well as understanding what to expect for those fees. So, as we look at this Vanguard research, the Advisor’s Alpha, here’s what they’ve concluded in their white paper.
It says, Putting a value on your value is as subjective and unique as each individual investor. For some, the value of working with an advisor is peace of mind. For others, working with an advisor can add about 3 percent in net returns. If the advisor charges 1%, then they’re implying that they’ll provide returns greater than 3 percent net.
Over time, [00:10:00] individuals will earn 3 percent net per year on average. These returns won’t always come directly each year, but over time. Advisors can add value in the following ways. Number one, cost effective implementation and lowering expense ratios. The study allots 34 basis points for the efficient deployment of investment vehicles by advisors.
The Vanguard Group believes that advisors add value by assisting clients in lowering their overall fee structure. Number two, portfolio rebalancing. The study allots about 26 basis points for having an advisor, which is attributed to portfolio rebalancing. Rebalancing forces you to buy low and sell high, and the process of rebalancing can be counterintuitive.
According to Vanguard, that’s worth roughly 26 basis points. Number three, Vanguard assigns 1. 5 percent to advisors on the topic of behavioral coaching. Most individuals, they argue, get investing wrong [00:11:00] in that they buy high and sell low. According to the Dalbar studies, investors gains are significantly lower than those of the mutual funds they’re invested in.
Many individuals make the error of purchasing at the wrong time, then selling when things start to go bad. In situations of tremendous worry or exuberance, an advisor’s work begins to come into play. There’s something to be said about having someone else looking over your shoulder and offering you advice and assistance throughout the moments and events when it matters the most.
Number four, asset allocation. The next area that the Vanguard Group says contributes approximately 0. 75 percent value is asset location. The primary goal of asset location is tax efficiency, to make sure that you have the appropriate types of assets in the correct buckets. IRAs, non qualified, Roth IRAs, and brokerage accounts are all popular among individuals.
A financial advisor makes sure that the right investments are in the right accounts. Number five, spending strategies or [00:12:00] withdrawal order. Having spending strategies and having a withdrawal order were the last two elements that provided significant value. According to Vanguard’s white paper, Vanguard says that the value can add up to 1.
1 percent to investors. We’re talking about paying 1 percent fee for a 3 percent return. Is it worth it? On a 1, 000, 000 advised investment account, a 1 percent fee is 10, 000 and a 3 percent return is 30, 000. Is that something you’d be willing to do? What does the Morningstar study say about the value of financial advisors?
Morningstar, a respected firm that most people are familiar with, began as a fund research business but has expanded into several areas over the years. They wrote a paper called Alpha, Beta, and now Gamma. In it they said, we focus on five important financial planning decisions and techniques. The first one is a total wealth framework to determine the optimal asset allocation.
The second is a dynamic withdrawal strategy. Third [00:13:00] comes incorporating guaranteed income products such as annuities. The fourth is tax efficient allocation decisions. Lastly, a portfolio optimization that includes a proxy for the investor’s implicit or explicit liabilities. Furthermore, they go on to say that each of the five gamma components create value for retirees.
Given the paper’s assumptions about risk aversion and other variables, When combined, they can be expected to generate about 22. 6 percent more certainty equivalent income when compared to a simplistic, static withdrawal strategy, according to our analysis. The certainty equivalent represents the amount of guaranteed money an investor would accept now instead of taking a risk of getting more money at a future date.
This additional certainty equivalent income has the same impact on expected utility as an arithmetic alpha of 1. 59 percent and thereby represents a significant potential increase in portfolio efficiency for retirement income for [00:14:00] retirees. Expected utility theory is used as a tool for analyzing situations in which individuals must make a decision without knowing the outcomes that may result from that decision.
What does InvestNet Portfolio Management Consultants conclude about advisors? Another study was done by an organization called InvestNet Portfolio Management Consultants. They also looked to see the value of financial advice for individuals. They observed the following areas, financial planning, asset class selection, and allocation.
investment selection, rebalancing, and tax management. Each element can contribute alpha or excess return over a given benchmark. They conclude that according to our research, the combination of successfully implementing these sources has produced around 3 percent of value added annually. They explain each one and assign a figure to quantify the value that it generates.
The first one was asset allocation, and they say that that’s worth 50 basis points, or about half a percent. They [00:15:00] go on to say, Our research has determined that employing a strategy of selecting active mutual fund managers According to certain risk adjusted return characteristics, can add 67 basis points of value annually to a diversified portfolio.
Implementing the portfolio with passive investments can add 61 basis points of value each year. In addressing the fourth pillar, The advisor added value in systematic portfolio rebalancing, they said. We demonstrate the advantages of regular systematic rebalancing and how it can help to control risk by reducing portfolio volatility and enhancing returns.
We contrast the effects of more or less frequent rebalancing and offer a rationale for how to explain why an annual rebalancing frequency is optimal. The process of systematically rebalancing a diversified portfolio can add 30 basis points of value each year compared with the naive strategy of rebalancing once every three years.
The InvestNet study also said tax [00:16:00] management can add about 100 basis points or 1 percent per year. So again, These are the areas where financial advisors are shown to be beneficial for their clients. Half a percent per year for financial planning, 52 basis points for asset class selection and allocation, 67 basis points for investment selection, active management, or 61 basis points for passive management, 30 basis points for systematic rebalancing, 100 basis points for tax management.
That totals 299 basis points or approximately 3 percent per year in value that a financial advisor can add. The point of all of this is that you have to compare costs to the value received. Can you trust these studies? There’s a question you have to answer. Are these studies true or false? If the studies are true, then why wouldn’t you want the benefit of paying a fee to work with an advisor, since the studies show conclusively that by hiring a good financial advisor, you’d actually have the potential to increase your [00:17:00] overall earnings than if you were going to be doing it on your own.
If these studies are false, Then in order to believe that they’re false, you have to believe that all of these different studies are being done so that advisors can justify the fees that they charge, and that the people who have done these studies are lying or exaggerating the numbers because they have a vested interest in the outcome.
In believing so, you also have to believe that a company like Vanguard, that was responsible for driving the fees down, is also the company now that’s trying to get you to pay fees. Why would they do this? Because if you make more money, then they make more money, and the studies show that you will actually make more money by hiring and paying a fee to an advisor than by them just lowering their investment fees.
Or maybe you didn’t know that these studies existed, in which case you were just flying blind. However, now that you know that these studies exist, you have a decision to make. Should you hire a financial advisor and get more bang for my buck in the long run, or just go it alone and save on fees? but lose out to the [00:18:00] potential growth an advised portfolio could bring.
In the end, the result we want for you is to have a good retirement. We want you to have cash flow. We want you to pay your fair share in taxes, but not a penny more. We want you to pay only fees that produce valuable outcomes. We want you to have an investment strategy that’s right for you. One that’s right for the amount of risk that you’re willing to take and that you’re going to be comfortable with.
We want you to make sure you have a good health care plan. What if somebody gets sick? We want to know that the plan is going to continue. If the person who used to run the numbers is no longer able to do it, or they simply don’t have the capacity to do so, we want to make sure that you’re not leaving a big mess for future generations or for a surviving spouse.
For There’s a lot that goes into putting together a successful retirement financial strategy, and there’s a lot of responsibility. Is it worth it to hire an advisor? For most of you, the answer will be yes. 10 questions to ask before hiring a financial advisor. A lot of people want help managing their financial life, but hiring a [00:19:00] financial advisor can be intimidating.
What should you look for in a financial advisor? How can you be sure that your financial advisor will be worth the cost? Oftentimes, finding the right financial advisor involves interviewing a few advisors and then finding the one that clicks with you. But you don’t want to meet a potential advisor unprepared.
So before you interview a financial advisor, here are a list of 10 questions you can ask. These questions won’t just help you weed out a bad egg, they’ll help you clarify what you want from a financial advisor. Number one, do you have experience helping people like me? Most financial advisors specialize in helping certain types of people.
For example, some advisors help people as they approach retirement age. These advisors typically have an in depth knowledge about social security, retirement budget planning, and retirement withdrawal strategies. Other financial advisors specialize in helping business owners create investment strategies after selling businesses.
Still others work with clients in their 30s and 40s who are working to develop a nest egg. An advisor who [00:20:00] works with people like you will generally be better suited to helping you achieve your personal financial goals. It might also mean that you change financial advisors as you transition from working to retirement to get the expertise you need for the slice of life that you’re in.
Number two, how do you provide value to people like me? Certain financial advisors focus on providing value through their asset management practice. Some focus on tax planning. Others help you create and maintain a financial plan in an ever changing economy. Some financial advisors focus on risk mitigation through insurance and income planning.
The value that an advisor provides should line up with the reason that you’re hiring that advisor. If your goal is to plan for retirement but the advisor helps with business tax planning then the relationship won’t be a great fit. Number three. What are your credentials? Many people who operate as financial advisors have some sort of credentialing, and the type of advice an advisor gives is likely to [00:21:00] be heavily influenced by their credentials.
These are a few of the most common credentials and what they mean for you. Typical designations for financial advisors. Financial advisors can often list pages of letters after their name, but not all designations are created equally. If you are looking for a long term relationship with a financial advisor, these are the certifications you should seek.
Certified Financial Planner, CFP. CFPs specialize in creating financial plans that help you to achieve your short and long term goals. All CFPs must work in the best interest of their clients. Have at least two years of experience and have passed an exam. In addition to managing your investment portfolio, CFPs may make recommendations to buy certain types of insurance or reduce your debt or to reduce your tax burden.
Chartered Financial Consultant, CHFC. Similar to CFPs, CHFCs focus on the essentials of financial planning, such as investing, saving, [00:22:00] and risk management. CHFCs must prove competence in fundamental financial planning. but do not have to pass a board exam. Retirement Income Certified Professional, RICP. This designation equips advisors with the knowledge to effectively manage the transition from asset accumulation during a client’s working years to asset decumulation in retirement.
RICPs enable the advisor to demonstrate tremendous value by delivering smart strategies for creating secure, sustainable income for a client’s retirement. All RICPs must have three years of experience, Have passed an exam and must obtain 15 hours of continuing education every two years. Chartered Financial Analyst, CFA.
CFA specialize in portfolio management techniques and investment analysis. They must pass three exams and have at least four years of professional experience to achieve this designation. By completing and passing all three exams, CFA’s [00:23:00] also show competency and wealth planning techniques. Other financial advisor designations.
Transcribed In addition to the typical financial advisor designations, these are a few designations that they may also have. It’s important to note that these designations demonstrate proficiency in at least one area of financial planning. However, advisors with these designations may not be able to help you with comprehensive planning.
Certified Public Accountant A CPA can provide tax advice, including tax planning advice, to you. They don’t just prepare your tax documents each April. Rather, CPAs can give advice about how to structure your business and your finances to minimize your tax burden. Even if your primary financial advisor isn’t a CPA, you’ll probably have some interactions with CPAs as you develop your financial roadmap.
A chartered life underwriter is someone who is licensed to sell life insurance products. A chartered life underwriter is someone who is licensed to sell life insurance products. These could include everything from simple term life insurance policies to complex [00:24:00] annuities with life insurance riders.
Most people will need to buy life insurance at some point during their financial journey, so you’ll want advice from a CLU. However, a CLU that doesn’t have other credentials may not be the best long term advisor for you. Juris Doctor, J. D. A J. D. indicates that a person has a law degree. If they’ve passed the bar exam in your state, they can also practice law.
Estate planning lawyers, some small business financial advisors, bankruptcy lawyers, and other debt relief lawyers will have a JD. When you need someone to help you through the legal parts of a financial issue, you’ll want to enlist the help of someone with a JD and experience giving financial advice.
Series 3, 6, 7, 24, 51, 63, 65, and 66 licenses. The Financial Industry Regulatory Authority, FINRA, and the North American Securities Administration Association, NASAA, issue [00:25:00] licenses for professionals that want to buy and sell stocks, bonds, and other commodities. Almost anyone who wants to provide investment advice must have this licensing, so any financial advisor should have one or more of these licenses.
However, most financial advisors will also have other designations to show their competence as an advisor. Question number four. Are you a fiduciary? A fiduciary financial advisor is someone who is legally obligated to work in your best interest. If a financial advisor isn’t a fiduciary, they only need to meet a suitability standard.
A suitability standard means that the advisor will only make recommendations that are suitable for you, even if the advisor knows of better alternatives. If you intend to have an ongoing relationship with a financial advisor, you generally want to have that advisor meet a fiduciary standard. Number five, how do you get paid?
Generally, when we hire someone, we know exactly how they get paid. We pay the plumber 150 to fix a leaky pipe. [00:26:00] You’ll pay a tutor 25 per hour to teach you Spanish. But in the financial advice industry, payments aren’t always clear. Financial advisors can get paid through fees, including a portfolio management fee or an hourly fee, or through commissions, earning money based on the products that they sell.
Some advisors are paid using both methods. If that’s the case, it’s helpful to clarify which products they earn commissions on, often insurance products, and which products they do not earn commissions for selling. Question number six. Do you ever get paid to recommend certain products over others?
Certain investment advisors. Especially those with just broker designations might recommend products based on the commission that they earn. While earning a commission on a product has been an acceptable way for financial advisors to earn money, it’s important for customers to understand that the commission may be part of the reason an advisor is recommending a product to you.
If you know a financial advisor earns a commission by selling certain products or investments, you should make sure you understand how these [00:27:00] recommendations work and why they are valuable in your overall retirement financial plan. Number seven, do you have any complaints against you? And what were the results?
Properly licensed financial advisors have a profile that includes complaints against the advisor. You can check on their profile through FINRA’s Broker, check@brokercheck.finra.org, or the SEC’s Investment advisor, public disclosure@advisorinfo.sec.gov. Question number eight, how often can we expect to meet if I hire you?
Sometimes, advisors will meet with you just a few times. For example, estate planning attorneys may only meet with you twice, once to create an estate plan and again to review it. After that, your only meetings will be to update it. Others, such as financial advisors, will meet as often as once per month or once per quarter.
These advisors typically want to stay in the loop and help you as you make big spending decisions, such as buying a house or a car. Some [00:28:00] will offer only an annual review, but will allow you to schedule other appointments as needed. Number nine, where can I see my information? If you’re hiring someone who will manage your investments, you You should be able to easily access your personal information, such as an account balances and your investment allocation.
In particular, you should know the status of your investment portfolio and the beneficiaries on your accounts or insurance policies. Many advisors offer information through a website or an online portal, but some may send monthly or quarterly statements instead. If you’re investing in proprietary investments, such as master limited partnerships or non traded real estate investment trusts, or other similar investments.
You should expect to get regular quarterly financial updates from the investment company. If your advisor cannot clearly explain how you’ll get access to your investment information, this should be a huge red flag for you. The so called advisor may actually be selling you a fraudulent product. Question number 10.
Do you work with a team? No financial [00:29:00] advisor can be an expert in every aspect of financial planning, but that doesn’t mean a financial advisor will leave you without a solution. Some advisors will help you by referring you to specialists to give you help in areas such as estate planning or tax preparation.
Others will have an in house team to cover these needs. It can be important to clarify what a financial advisor refers to as out of the house team, since you may pay additional fees for those services as well.
Announcer: Information and opinions expressed here are believed to be accurate and complete, for general information only, and should not be construed as specific tax, legal, or financial advice for any individual, and does not constitute a solicitation for any securities or insurance products.
Please consult with your financial professional before taking action on anything discussed in this program. Parker Financial, its representatives, or its affiliates have no liability for investment decisions or other actions taken or made by you based on the information provided in this program. All insurance related discussions are subject to the claims paying ability of the company.
Investing [00:30:00] involves risk. Jason Parker is the president of Parker Financial, an independent, fee based wealth management firm located at 9057 Washington Avenue NW, Silverdale, Washington. For additional information call 1 800 514 5046 or visit us online at soundretirementplanning. com
