Not all financial advisors are created equal. Some genuinely care about helping you build a strong financial future, while others are simply trying to sell products to earn commissions. So how can you tell if your advisor is acting in your best interest—or just pushing a sale?
According to Rienzie Biolena, a Registered Financial Planner, who shared his insights with Financial Adviser PH, one major red flag is when an advisor focuses on selling before understanding your needs.
“All financial advice must start from you: your dreams, hopes, aspirations, challenges, needs, wants, and resources. An advisor should take stock of these first before dispensing their recommendation; otherwise, it would just be a recommendation that is uninformed and, worse, detrimental to you,” Biolena explains.
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They Sell Before They Listen
A real financial advisor should take the time to ask about your goals, financial situation, and future plans. If they jump straight into product pitches without asking questions, that’s a sign they are more focused on selling than advising.
“Some insurance agents or financial sales executives—product pushers, as I call them—just push the latest or the ‘flavor of the month’ product without even asking about your needs and cash flow,” Biolena warns.
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They Offer One-Size-Fits-All Advice
Financial planning is personal. If your advisor gives generic recommendations that don’t consider your specific needs—like blindly suggesting “Buy Term, Invest the Difference” or a VUL policy without explaining which is better for you—that’s a red flag.
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They Can’t Show You the Math
Good financial planning is based on real numbers, not just sales talk. If your advisor can’t explain how they arrived at their recommendations—or if the numbers don’t add up—it’s time to reconsider their advice.
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They Push High-Commission Products
Be wary if an advisor only recommends products with high commissions instead of discussing multiple options. Their priority should be your financial well-being, not their paycheck.
The Bottom Line
A good financial advisor is someone who listens first, explains their recommendations clearly, and prioritizes your best interests over sales. If you’re unsure, ask questions and demand transparency—because your financial future is too important to leave in the hands of a salesperson.
