Early Intervention and Financial Advisors

The right solution is often a simple one.

If you believe that solving financial problems – or avoiding them – has to be a complicated and mysterious endeavor you could miss the best answer, which may mean the right advisor for your situation and life or business goals.

I believe that finding the right financial advisor early in life, early in a marriage, before starting a business, and early in the process of resolving conflict between family members is priceless.

Any time you are emotionally charged, under pressure to make big decisions, facing uncertainty or a major disappointment, you are served well to already have trust established with a solid, loyal and talented financial advisor.

Do I have recommendations? Of course I do!

My perspective comes, in part, from the study of hundreds of cases or situations presented to me through this website, and from experience in financial services where I worked directly with advisors and money managers across the United States.  Wisdom also comes from learning firsthand that not all financial advisors will give you all of the information or insight you need to make smart decisions.

During research of actual cases, I’ve noted how some financial experts make analyzing and planning more convoluted and expensive than the situation calls for, but emotionally charged parties aren’t in a position to recognize that value is lacking, or that key information is even being withheld. By the time someone realizes that they weren’t served well by the expert they were guided to use, it’s too late; the damage is done. Yes, I can show you what that looks like on paper and how it translates into bigger trouble in life. While I can help illustrate problems you want to avoid, the financial professionals I know and trust are the best at showing you what your best options are and then empowering you to act on them.

Early intervention is the way to go.

Make time before a crisis arises to interview and get to know advisors, and learn what value-added looks and feels like when working with a financial advisor. If you feel uncertain about a professional relationship and need to consult with someone else, let me know.

Coming soon: the next series of eye-opening interviews is under development, so please get in touch if you have suggestions for topics or would like to contribute as an expert or to simply tell a story that can help others reach better financial outcomes.

Above all, preserve your time and financial resources for the benefit of your family.

Financial Guidance During Divorce

Financial Guidance During Divorce Can Make All the Difference

While that statement seems obvious, the issue is where you obtain your advice and knowing whether your counsel actually has your best interests in mind, or not.

Financial counselors, like attorneys and child custody experts, are not all equal and a handful will actually stand by or participate in helping to misguide you during a very emotional and turbulent family conflict.

One trust source of information is nationally recognized author, speaker and advisor Jeff Landers.

We invite you to read his work, and let us know if you need help selecting a local expert to review your situation and to assist legal counsel during a divorce or other legal or financial matter.

Financial Uncertainty & Resentment Towards a Partner’s Financial Status is a Large Factor Contributing to the Divorce Rate

If there is a way to get the right counsel at the onset of conflict and disagreement, please do not hold back in trying to resolve the issues before hiring lawyers and filing for divorce.

You may find out there are options you did not know were available to you otherwise, and in many cases, it’s worth the investment and taking a chance.

Please contact us if you are seeking financial guidance and before deciding on a team of professionals if you are caught in conflict that may lead you into the legal system.

Founder’s Tip:

Just because many family law attorneys use certain forensic accounting firms that does not mean there is any value to be had in signing a contract, paying a retainer and hoping for the best in the end. Get informed from those who have gone before you in this process. 

The exterior of a Bankruptcy Court building

Data gathered by My Advocate Center shows that there is a way to manage through family conflict without being forced into bankruptcy. Understanding fiduciary duty is a good first step.

Forbes on Bankruptcy After Divorce

“Some people are pushed into bankruptcy by their former spouse. Let’s say they owned a house together but they either don’t want to sell it (because they want the children to keep living there) or they can’t sell it because it’s upside down. One of them agrees to pay the mortgage; it might be the spouse who lives there, or it might be the ex who is supporting him or her. But the mortgage doesn’t get paid. Maybe that spouse eventually files for bankruptcy, and the other one ends up having to file in order to keep the house and catch up on payments, or to discharge their responsibility for the remaining loan.”

What this Forbes article does not spell out is that professional misconduct plays a large role in ensuring that at least one of the parties doesn’t make it – meaning they are not able to maintain stability, to prosper, and to give the best they have to their children. Their best has been undermined and taken away. Many mothers and fathers are filing bankruptcy following divorce and child custody cases, but we believe much of this loss could be avoided.

Avoid BankruptcyWhen you review billing records and communications with child custody experts and between attorneys, you can see that, unfortunately, this is intentional in some cases. It is these cases we refer to when we ask authorities to review cases.

Forbes contributor Emma Johnson makes a sound argument here for paying attention to your credit score and working to protect yourself, but make sure you’re aware of the diligence needed in selecting professionals who will not aim for breaking the bank – your bank – in your family law or child custody case.

Financial matters are a key focus for our professionals belonging to our Resource Directory and for those featured on Pro Advocate Radio.

 

Check out ProAdvocateRadio.com to learn more from one of our financial advisors, Wendy Hayes. Wendy is a Certified Divorce Financial Analyst and is committed to helping families reset priorities so that their financial resources and time are preserved for themselves and for their children. Listen here to Wendy’s sound counsel.