From time to time, we encounter individuals who work with more than one investment planning firm.
Does Planning Firm A know what Planning Firm B is doing and visa versa? Are they completely in sync with asset allocation, asset location, and tax loss harvesting? We have yet to see a scenario where that was happening (not that it cannot).
If you had two doctors, would you want them to have your full medical background? Of course, you would. You would not want to go into a major surgery without a surgeon knowing what you were allergic to or what knee they were to operate on.
Financial planning is no different. You have worked too hard for too long to let financial planners “guess” at what is happening in your financial picture.
This is a classic case where one is greater than two. There is no diversification or advantage from having two professionals who do not grasp your full financial picture.
Find a team that you can trust and are comfortable with sharing ALL your information.
Information in this material is for general information only and not intended as investment, tax, or legal advice. Please consult the appropriate professionals for specific information regarding your individual situation prior to making any financial decision.
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