Kamal Lidder Shares 7 Tips for Effective Communication with Your Wealth Advisor

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KAMAL LIDDER SHARES 7 TIPS FOR EFFECTIVE
COMMUNICATION WITH YOUR WEALTH ADVISOR
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INTRODUCTION
Kamal Lidder is a seasoned investment advisor
with over 18 years of experience in the financial
services industry. He has worked with BMO
Financial Group, Nesbitt Burns, and currently
works with CG Wealth Management, an independent
firm offering wealth management solutions to
professionals, entrepreneurs, retirees, local
government, and philanthropic entities.
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Be clear about your financial goals
Before meeting with your wealth advisor, it is
important to be clear about your financial goals.
This includes short-term and long-term goals, as
well as any concerns or questions you may have.
By being clear about your goals, your wealth
advisor can provide tailored advice and solutions
that align with your objectives.
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COMMUNICATE REGULARLY
Regular communication with your wealth advisor is
key to ensuring that your financial plan remains
on track. This includes scheduling regular
meetings to review your portfolio and discuss any
changes in your financial situation or goals.
Additionally, it is important to communicate any
major life events that may impact your financial
plan, such as a new job, marriage, or the birth
of a child.
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ASK QUESTIONS
Don't be afraid to ask questions. Your wealth
advisor is there to help you navigate the complex
world of finance, and it is important to
understand the advice and recommendations they
provide. If you don't understand something, ask
for clarification.
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Be honest
Honesty is crucial when working with a wealth
advisor. It is important to be upfront about your
financial situation, including any debts or
financial challenges you may be facing. This
allows your wealth advisor to provide tailored
advice and solutions that address your specific
needs.
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Understand the risks
Investing involves risks, and it is important to
understand the risks associated with your
portfolio. Your wealth advisor can help you
understand the risks and rewards of different
investment strategies, but it is ultimately up to
you to make informed decisions about your
investments.
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Keep an open mind
Your wealth advisor may recommend investment
strategies or solutions that you may not have
considered before. It is important to keep an
open mind and consider their recommendations
carefully. While you may ultimately decide to go
in a different direction, it is important to
consider all options before making a decision.
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Review your portfolio regularly
Finally, it is important to review your portfolio
regularly to ensure that it remains aligned with
your financial goals. This includes reviewing
your asset allocation, risk tolerance, and
investment performance. By reviewing your
portfolio regularly, you can make informed
decisions about your investments and ensure that
your financial plan remains on track.
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