Inheriting Financial Relationships
Episode 2 of the Executive Decisions by SYM Financial Advisors podcast, hosted by Sarah Delahanty, titled "Inheriting Financial Relationships" was published on June 1, 2023 and runs 8 minutes.
June 1, 2023 ·8m · Executive Decisions by SYM Financial Advisors
Episode Description
Inheriting Financial Relationships
In this episode of the EmpowHER Podcast, Michelle Hipskind, a certified financial planner, discusses the phenomenon of women inheriting investment portfolios and being dissatisfied with their financial advisors. She notes that 70% of women who inherit responsibilities for an investment portfolio want to switch to someone they are more comfortable with. Michelle provides five important questions to ask a financial advisor to ensure transparency and to guarantee that the advisor is acting as a fiduciary. She emphasizes that it is important to have a good relationship with your financial advisor, and women have the right to ask questions and change their relationship if they inherit one. Empowered women empower other women, and Michelle encourages women to seek financial education and support to take control of their finances.
"70% of women who inherit responsibilities for an investment portfolio are dissatisfied with the financial advisor." - Michelle Hipskind
This week on The EmpowHER Podcast:
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Women who inherit an investment portfolio.
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Questions to ask when hiring a financial advisor.
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Fiduciary responsibilities and compensation.
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Who is responsible for making investment decisions?
Our Favorite Quotes:
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"70% of women who inherit responsibilities for an investment portfolio are dissatisfied with the financial advisor." - Michelle Hipskind
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"In many cases, they want to develop their own relationships and not be forced to use something that they inherit." - Michelle Hipskind
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"You have every right to have a full understanding of what this relationship is, whether it's the person that came with a portfolio, or whether it's someone you're interviewing to begin a new relationship with." - Michelle Hipskind
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"It's in their best interest financially to sell something or to transact something." - Michelle Hipskind
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"It needs to be somebody who understands your situation, has your best interests at heart, and stays engaged in the investment portfolio ongoing." - Michelle Hipskind
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"You have every right to change your relationship if you inherit one. When you do, ask those questions." - Michelle Hipskind
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"Empowered Women empower other women." - Michelle Hipskind
About SYM Financial and The EmpowHER Podcast:
The EmpowHER Podcast is a platform for women to come together to gain financial insight and strategies with a tribe of brilliant women. This show is brought to you by Financial Advisor Michelle Hipskind, CFP ®. Michelle educates on the many important aspects of financial planning and brings in additional professionals that provide advice in their areas of expertise, giving listeners access to the appropriate professionals that can help solve the problems many women face. In-person events are held in the Fort Wayne, Indiana area. In addition to the podcast, local events, webinars and blogs are available for all women who want to be part of the EmpowHER community.
Email Michelle at [email protected] with questions, comments, and to schedule a one-on-one conversation.
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