Intuition Is Important; Greed Is Not

Ideally, you'd like to be able to introduce your broker to your children one day as "the person who helped us reach our goals." For all of the questions, background checks, and concerns, there will be no substitute for your sense that the advisor can deliver on that potential.

Do what you can to get a great sense of the advisors you meet; you want this to be a hard choice, a decision where you feel like there's no wrong answer.

In the end, however, listen less to promises of future wealth and more to what your gut tells you to do.

Smart Investor Tip

Anyone can say they'll make you lots of money. Follow your gut instinct more than your greed instinct.

Remember, there's no limit to the promises stockbrokers can make, only to the promises they can keep.
By Chuck Jaffe
Chuck Jaffe is a senior columnist and host of two weekly podcasts at MarkWatch. He has also been a guest speaker on several television and radio shows.

Copyrighted 2020. Content published with author's permission.

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