John Darden is the vice president of Astra Wealth Management Group. The firm works with select individuals and families to help build wealth and practice effective wealth management.

Here are some tips from John on how to approach finding your financial advisor match, and to start letting your money work for you!

Part of the team at Astra Wealth Management Group. L to R: John Darden, Jill Tucker, Andy Evans and Candy Hawkins.

What are the biggest mistakes you see most people make when they plan for retirement?

First mistake: trying to time the market. Investors rarely are successful in timing when to sell and when to buy on a short term basis.

Second Mistake: staying in cash too long. Cash is an asset that does not grow on itself. If
it never gets invested, the money won’t work for you in the long run. If you get so caught up in short term volatility of what happened today in the market, you could lose focus of your long-term goal.

The whole goal of investing for retirement is that the money has time to work for you.

Why should someone consider using a financial advisor for wealth management?

Money may not be the most important thing in your life, but it’s one of the most important
that determines a lot. So there’s always emotion attached to it. But if you get too emotional and attached to your money when you’re investing for yourself, you can sometimes lose focus on what the main goal is.

When working with an advisor, you’re working with someone who’s done wealth management for years, for multiple people, and has been through both good and bad times. Good advisors don’t get caught up on the short-term emotional swings in the market.

What advice do you have for someone who feels like they can’t trust their current financial advisor?

You need to figure out why. Is there a lack of communication? Do they feel like their best interests are being put first?

For us, communication always seems to be our biggest focus. If people know that we’re
paying attention, that we’re listening, that we care, they’re not as quick to disengage in the
event of a market correction. They know we’re in constant communication. They know what’s going on. They know that there’s a plan in place.

What are three criteria people should think about when deciding to use a financial advisor?

Experience. It does not have to be someone with 50 years of experience; but at the same
time, you want to know that the person or the group that you’re working with has not just
entered the industry.

Communication. This is huge, because the more that people are in tune with what’s going on with their money, the better off they will be. You want an advisor who puts an emphasis on planning. It can be hard to invest your money without a set goal.

Compatible personalities. Many advisors or clients are pretty similar to each other. I don’t think that’s a coincidence. You don’t want to dread seeing your advisor because their personality annoys you (or vice versa!) You want someone you don’t mind talking to and spending time with.

Astra Wealth Management Group
5700 Granite Pkwy, Suite 330A
Plano, Texas 75024
972.464.1932
ehdwp.com

Here are a few tips for staying financially fit!