Summary: Your financial future requires more than just good luck. It takes the specialized expertise of a competent, ethical advisor who can help you achieve your financial goals and your first step on this road to retirement is selecting the right financial advisor. Jack Waymire and Jonathan Dash of <a href="http://dashinvestments.com/" target="_blank" rel="noopener">Dash Investments</a> are here to help, as the coauthors of <a href="https://www.amazon.com/Steps-Selecting-Best-Financial-Advisor-ebook/dp/B07B7QFZZL/&tag=authorhour-20" target="_blank" rel="noopener">5 Steps for Selecting the Best Financial Advisor.</a><br> Now, this may sound like an easy task, but it’s actually fraught with risk. That’s because there are great advisors you should select and bad advisors you need to avoid. You have to know the difference in order to make the right selection. That difference could mean retiring comfortably or potentially being broke.<br> After decades in the financial service industry. Jack and Jonathan have seen countless investors make the wrong advisor choices that were based on slick sales pitches instead of characteristics that actually matter. That’s what this episode is about. It’s how to level the playing field between Wall Street and main street.<br> <br> <a href="https://www.amazon.com/Steps-Selecting-Best-Financial-Advisor-ebook/dp/B07B7QFZZL/&tag=authorhour-20" target="_blank" rel="noopener noreferrer"></a>Get Jonathan and Jack’s new book <a href="https://www.amazon.com/Steps-Selecting-Best-Financial-Advisor-ebook/dp/B07B7QFZZL/&tag=authorhour-20" target="_blank" rel="noopener noreferrer">5 Steps for Selecting the Best Financial Advisor</a> on Amazon.<br> Find out more at <a href="http://paladinregistry.com/" target="_blank" rel="noopener noreferrer">Paladin Registry</a>.<br> <br> Jack Waymire: It basically started in the late 1990s when everybody was making a ton of money in the stock market, as long as they were invested in technology and communications stocks.<br> I happen to be the president of a money management firm in northern California, and then you have the stock market crash that basically ran from 2000 to 2002. Lots of friends lost 50 to 65% of their assets starting this crash, because the financial advisors that they were utilizing gave them really bad advice. They were way over weighted in technology stocks rather than a more diversified portfolio.<br> <br> It absolutely wrecked any thoughts they had of retiring in the next few years. <br> <br> Based on that experience, I decided to write a book titled Who’s Watching Your Money. This book happened to come out in 2003.<br> At that point, I was the president of Sun Guard Company, a subsidiary of Sun Guard ,and I decided to leave to really promote the book. We created a website that really was based on the principles and this book titled Who’s Watching Your Money.<br> Almost immediately, because we got a lot of promotion tied to the book, we started getting a lot of traffic on the website. A lot of the investors that were hitting the website were saying, “FD you know any vetted advisors in my community?”<br> So we basically built a registry of about 360 vetted advisors that we rolled out about six months after the initial launch of the first website. And so we ended up kind of a website that educated investors about advisors and then we helped investors select advisors based on credentials, ethics and business practices.<br> <br> Jack Waymire: Then, over the last few years, what we began to see was a huge impact, the internet, everybody’s read the stories about how Amazon has impacted bookstores. What we started to see was a lot of the internet was having a big impact.<br> What the internet was doing was giving investors access to public data about financial advisors that they never had access to before. And actually, some of that data was already out there but the investor did not know that.
