SeniorTruth

Chuck Jaffe just provided another of his great reminders through his MarketWatch column: We all know how important it is to get solid information about professional licenses and history before starting a relationship with an advisor. Chuck points out that, when we’re dealing with a friend or family member, we just might skip that important checking.

Warning us that using friends or family as financial advisers is ill-advised, Chuck also reminds us that “Obviously, not every family financial affair ends with disastrous results, but few things kill friendships and ruin family relationships quicker than disputes over money. Any time a family member or friend becomes a financial adviser, the chances that both relationships will falter increases.”

H.E.L.P. has created a free form you can use, to ask key questions about professional licenses and more before you begin a relationship with a new advisor. Called “Ask First!” it’s available for free print-out at the annuitytruth.org site.

For this column by Chuck Jaffe.