Once you pur money in managed funds through a financial advisor and I'm not happy with their services how can I suck them? I don't want to pay 1.5% annual handling charge to an incompetent advisor.
Would it cost money to change financial advisors?
2007-08-17 13:59:22 · 5 answers · asked by truthofmatter 2 in Business & Finance ➔ Investing
Shop around, its easy enough to change, you just sign a letter giving the new company/person autherisation to deal with your accounts and a letter to the companies telling them not to deal with the old advisor.
Its great because it pisses off the old company as they no longer have authority to get access to your accounts and you should have heard some of the excuses i got while i worked at Scottish Widows from these poor saps
2007-08-17 14:11:42 · answer #1 · answered by poli_b2001 5 · 0⤊ 0⤋
If you live in the U S, it is very simple. You sign up with the new advisor, sign a form authorizing the transfer, and your new advisor does the rest and transfers the account. Should take no more than two weeks.
2007-08-17 21:47:28 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Changing a finacial adviser is very easy. Simply choose a new financial adviser, tell them the contact information for your old financial adviser and for your accounts, and ask them to process the paperwork to change. no problem.
2007-08-17 22:40:15 · answer #3 · answered by jjule 1 · 0⤊ 0⤋
Just open an account with another adviser (or even a self-directed brokerage account) and instruct the old adviser to transfer your assets into the new account...
2007-08-17 21:32:04 · answer #4 · answered by NC 7 · 0⤊ 0⤋
I will help you for FREE if you have less than $100,000.00 USD.
I am a Portfolio Manager with over a decade of experience in the stock markets.
2007-08-18 01:39:12 · answer #5 · answered by Anonymous · 0⤊ 1⤋