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Money management may not be rocket science, but you have to do your homework, participate in and understand what your financial adviser is doing. You can't just hand over money and assume that someone else will take care of everything for you.

One thing that is rarely explored in articles about male financial advisers is why a woman will so easily trust a man, whom she barely knows, to take care of her finances for her.

It isn't smart, but it's understandable when a wife turns over all responsibility for marital finances to her husband. Love and trust are the basis for marriage in the first place. But choosing an adviser requires a different set of guidelines than choosing a husband.

The fine print in an advisory situation, whether medical, financial or legal, is that there is no guarantee of results. A doctor can provide give you probabilities and statistics; a lawyer has the option of an appeal process. A financial advisor can only offer "past performance is no guarantee of future results", a phrase we often overlook, but which is in the fine print of every financial agreement between yourself and your advisor.

Participating as a partner wih your financial adviser means reading your reports and statements, understanding what the numbers mean and comparing them with the previous ones so you can track change. Your advisor works for you. It's your money that is generating money for your advisor. Unlike a marriage where all kinds of emotions kick in to cloud financial decisions, this is a business relationship.

You need to meet or talk with your financial adviser on a regular basis. You need to ask questions if you don't understand something. Remember, there are no dumb questions when it comes to money. There are only unanswered questions - and as the client you are always entitled to answers.

 

Legal Articles

  • What Women Need to Know Before Choosing a Lawyer +

    What Women Need to Know Before Choosing a Lawyer It can feel intimidating to talk to a lawyer. I’ve learned the hard way that if your lawyer can’t explain Read More
  • Be a Hero to Your Wife +

    Be a Hero to Your Wife I have a cartoon pasted above my desk showing two men in angel garb, each with a halo, floating on Read More
  • "Sign Here, Honey" +

    Every year, on or around April 15, millions of wives are asked by their husbands to sign a joint income Read More
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Marriage Articles

  • Marriage is a Financial Partnership +

    Marriage is a Financial Partnership What does it mean to have a financially intimate marriage? If couples achieved financial intimacy, wouldn't that do a lot Read More
  • Credit Score Predicts Money Compatability +

    Credit Score Predicts Money Compatability You’re in love. He’s perfect. Finally, a man who shares your values about life, work, children, family.You want to spend Read More
  • An Engagement Ring is not a Gift +

    An Engagement Ring is not a Gift An Engagement Ring is a Commitment to MarryDid you know that 26 percent of all engagements occur at Çhristmas time? Read More
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Wedding Articles

  • Talk about Money Before You Marry +

    Talk about Money Before You Marry  Talk About Money Before You Marry Your wedding is in six weeks. You’ve tried to talk about money with your Read More
  • Brides and Barbie Dolls +

    Brides and Barbie Dolls Brides and Barbie Dolls Hilary Price, a wonderful cartoonist, has a drawing in which a man is kneeling in front Read More
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Divorce Articles

  • Divorce Slams Karen +

    Divorce Slams Karen My friend Karen looked shell shocked. Her jade green eyes had dark circles under them. Her hands shook as she Read More
  • The Divorce That Wasn’t Personal +

    The Divorce That Wasn’t Personal Inge told her husband Harry she planned a face lift.  He said they couldn’t afford it. She thought they could; Read More
  • How Women Should Choose a Lawyer +

    How Women Should Choose a Lawyer It can feel intimidating to talk to a lawyer. I’ve learned the hard way that if your lawyer can’t explain Read More
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Finance Articles

  • Plain Truth about Financial Intimacy +

    Plain Truth about Financial Intimacy Financial intimacy is not about trust. It's about the relationship of two adults who choose to commit  their lives to Read More
  • Held Hostage by Your Husband's Superstition? +

    Held Hostage by Your Husband's Superstition? Some superstitions are harmless, like knocking on wood, carrying a rabbit’s foot or hoping that if you get on a Read More
  • Practicing Financially Safe Marriage +

    Practicing Financially Safe Marriage A Woman Needs to Participate in Marital Finances It’s not just first time brides who have trouble talking about money. Read More
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