23 Secrets Your Financial Adviser Won’t Tell You

Read these before you trust ANYONE with your money.

Certified financial planners and NAPFA-registered financial advisers take a pledge

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They take a pledge to put their clients' interests ahead of their own, but traditional stockbrokers aren't held to the same standard, even if they've given themselves the title “financial adviser.” Follow these 11 money habits everyone should know before turning 40 to keep your finances in check.

Do some digging

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Before you hand me the keys to your future, do some investigating. Use BrokerCheck at finra.org to see if I've been in trouble. Hopefully your financial advisor isn't guilty of using these 12 tricks con artists use to win your trust.

I work on commission

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I typically make money whenever you buy a new product, and I've probably got monthly quotas to meet. That's why I always seem to call with something to purchase at the end of the month. (If automated phone calls are your issue, find out how to stop robocalls for good.)

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I may have other incentives to get you to buy

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If I sell to enough people, I could win a trip to the Caribbean, a new laptop, or a big bonus. (The guys behind the product may also have bought my dinner at Morton's last week and sponsored our corporate golf tournament.) Skip it and follow these 56 easy tips for saving money.

Look for other options

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Before buying a mutual fund with a load, see if there is a better option. For every fund that has one of these sales charges, there's usually a similar one that doesn't. Steal these other 17 habits of people who are great at saving money.

Be careful with annuities

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They pay me big commissions, but they're not a good fit for many clients. Instead, steal these tips on how to retire early from people who did.

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Stear clear of back-out fees

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Stay away from investments that have a fee to get back out. If you get married, get divorced, change jobs, or move, it can come back to bite you. Don't miss these 16 other money mistakes even financial experts make.

There have been ten recessions since 1953

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I have no clue where the market is going, and neither does anyone else. So if someone promises a certain amount of growth, walk away. Instead, try these 4 habits that could make you a billionaire.

You're spending way too much

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But I'm not going to be the one to tell you to give up your cleaning lady or your fancy car—or me. Start by cutting out these 10 items you should never buy if you want a clutter-free home.

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We can give discounts

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Some of us can give discounts, but you may not get one if you don't ask. If I say no, you can still use these 8 new ways to save money online shopping.

Haven't heard from me in a while?

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Not a good sign. I don't like to be the bearer of bad news.

Everyone wants no fees

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They also want no risk and double-digit returns. I want a pot of gold at the end of the rainbow.

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Don't get too excited

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If it sounds too good to be true, it probably is. Use these 10 tricks for being less gullible before signing up for anything.

If you ask me, "How are you getting paid?"

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And I say, “Don’t worry about that. My company pays me,” that’s not a good sign.

Sure, I can help you buy 100 shares of IBM

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But why pay me, when you can do it on E*Trade for less than you’d pay for a large pizza? Find out how finance experts would spend extra cash.

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It's not a do-it-yourself job

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You pay a carpenter to redo your kitchen, you pay a plumber to fix your toilet, and a tutor to help your kid get into college. Yet when it comes to the most important area of your life—your financial future—suddenly you think you’re qualified for a do-it-yourself project? Here are 12 more projects you should never do yourself.

We’ve all heard it a thousand times: buy low and sell high

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But when the stock market was at historic lows, none of you would put your money in.

I am your inside source

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If you’re getting your stock tips from Jim Cramer’s Mad Money and CNBC, you’re waaaay late. One thing you can try? This $5 savings hack that helped one woman save more than $40,000.

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I am not a marriage counselor

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I’d rather not work out some argument you two are having over whether you can afford a 52-inch flat screen. Find out how to work through financial problems in a marriage on your own.

You’re paying me for financial advice

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Please come to me before you invest a bunch of money in something you don’t understand. I had a client last year who put $80,000 in a currency trading investment that was supposed to pay him $4,000 a month. Of course it was a Ponzi scheme that stopped paying after three months. If he had asked me up front, I could have told him it wasn’t legit. Even if you aren't investing, watch out for these 10 phone scams that want your money.

Some people say you need at least five times your income

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But this will vary depending on how much you earn, your family’s living expenses and other variables. Check out the How Much Life Insurance Do I Need? Calculator at bankrate.com. Saving for college? Learn money habits of parents who sent their kids to school without loans.

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Paying off your mortgage may be a great idea

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But I’d rather get paid to manage that money for you. Don't miss these 12 hidden costs every new home buyer should know.

Despite what you’ve read about Bernie Madoff, I am not going to steal your money

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Frankly, you just don’t have enough. If I was going to risk my entire career and life, you’d need to have $100 million, not $500,000.

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