David J. Kressler

Managing Partner at Principal Financial Group in Bethesda

Discussion Policy

Comments that include profanity or personal attacks or other inappropriate comments or material will be removed from the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. Finally, we will take steps to block users who violate any of our posting standards, terms of use or privacy policies or any other policies governing this site. Please review the full rules governing commentaries and discussions. You are fully responsible for the content that you post.

Sunday, July 27, 2008; Page F04

When should I fire my financial advisor?

A strong relationship with a financial adviser is a lot like a successful business partnership. The core ingredients are respect, trust and confidence. It takes time to build but can erode quickly. Aside from outright deceit, an adviser usually causes his own 'firing' in one or more of the following ways:

· Using jargon without explanation. Nothing is more exasperating than not getting a straight answer to a question: How much is your commission? What are your fees?

· Being paternalistic. The adviser who says, 'I know what's best for you' without carefully listening to you.

· Adding little value. Are you better off today than when you first started working together?

· Being more interested in selling you something than discussing options.

· Not returning phone calls or communicating regularly on what is happening with your portfolio.