Episode Summary: In this episode of Financial Advisors Say The Darndest Things, host AB Ridgeway explores the qualities of an ethical financial advisor. He emphasizes the importance of discernment, intuition, and ethical standards, drawing on biblical principles to guide listeners in evaluating financial advisors. AB Ridgeway provides practical tips for identifying ethical advisors and encourages listeners to prioritize values and ethics when seeking financial guidance.
Key Takeaways:
- Know What You Don't Know: Ethical advisors acknowledge their limitations and seek expertise when necessary. They prioritize honesty and transparency in their client interactions, ensuring clients receive accurate and informed advice.
- Lifetime Learning: Ethical advisors demonstrate a commitment to continuous learning and improvement. They stay updated on industry trends and regulations, striving to enhance their knowledge and skills to better serve their clients.
- Network of Integrity: Ethical advisors surround themselves with colleagues and organizations that uphold high ethical standards. They prioritize associations that align with their values and contribute to their professional growth and development.
- Fact vs. Opinion: Ethical advisors distinguish between facts and opinions when providing financial advice. They present information objectively, empowering clients to make informed decisions based on credible sources and expert insights.
- Careful Framing: Ethical advisors communicate information responsibly, avoiding biased or misleading framing. They strive to provide balanced perspectives on financial matters, ensuring clients receive objective and helpful guidance.
Quotes:
- "Even though there are many ways to evaluate a financial advisor, the best way is to pray and to trust your instinct."
- "Ethical advisors are those who are willing to subject themselves to additional ethical standards to show the public and clients that they have their best interests in mind."
- "Ethical advisors go beyond the letter of the law and focus on the spirit of the law, meaning they avoid the gray areas even though it isn't directly out of the law."
💵Sign up for a Christian Finance Consultation and create your Financial Plan Today!
https://calendly.com/abridgewaywm/consultation
*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.