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Do You Know Someone Who Needs A Second Opinion?

When we face life’s tough decisions, such as a career move, relocation, or medical treatment, we usually conduct research and gather information to help make an educated choice. Sometimes, we look to trusted mentors, family, friends, or even the Internet to make the most informed decisions.



In the same way, creating and customizing a financial plan is a significant decision. It involves building up the security and confidence you need to pursue your goals, retire, and live the life you desire. So is it worthwhile to get a second opinion?

The Value Of Another View

In my experience, many people sit down with a financial advisor to create a financial plan, then let it gather dust. Their plan becomes outdated, or they outgrow their advisor and aren’t sure if they are on track for retirement.


But for something as important as your financial future, getting a second set of eyes on your plan can help you feel more confident. Here are three reasons why receiving a second opinion is good practice: 

1. It Solidifies Your Strategy 

If multiple professionals offer similar advice independent of each other, it gives you confidence that your plan is appropriate for your goals. If they contradict each other, they can each explain why they’re making a particular recommendation and help you better understand your options.

2. It Eliminates Doubt

Some investment professionals may promote certain products or investments over others due to the commission they are paid. Luckily, as a portfolio manager we have fiduciary duty to clients which mean not only we need to provide advises that are suitable for you but we operate under a Best Interest regime. In a second post we will explain what it means when the clients are served under best Interest versus only suitability. Because it is the case when your financial advisor is only registered as a salesperson or a dealing representative like the majority of “advisors”, they are only forced to follow the suitability rules which is sometimes not necessarily in your best interest. Getting the opinion of an independent, objective portfolio manager can help eliminate doubt about your plan. 

3. Two Heads Are Better Than One

Using the "two heads are better than one" approach, more information is always better than less. Having more than one viewpoint can help you avoid common financial pitfalls. Further, the team approach often fuels creativity, even when it comes to retirement planning.1

Spring Cleaning For Your Financial House

Some professionals advocate for an annual spring cleaning of the performance of investments with your financial advisor. This way, you may be able to adjust tax withholding in order to have more cash on hand or ramp up retirement contributions if possible, and rebalance your portfolio if needed. This regular review helps you communicate with your advisor at least once a year and also helps convey any new goals you have or life changes that have occurred.

How Do I Know If My Financial Plan Is Right For Me?

Financial planning can be complicated and overwhelming. To make the best decisions and create a financial plan that helps you feel secure and confident, it is important to work with a qualified and experienced financial professional.


At Montag Private Wealth, we believe getting a second opinion on your portfolio investment is a crucial step, especially if you have any doubts about your future and the composition of your current portfolio. We encourage you to read our rubric entitled ‘Why We Are Your Manager Of Choice’. It contains many Q&As that your current financial advisor should be able to address.  If not, contact us.


We would be happy to provide you or your friends and family a second opinion on your investment portfolio with no obligation. We will review our philosophy and our investment approach with you and make our recommendations so you are in a better position to make an informed decision. Get started by booking an appointment now! Or, for questions, call our office at 1(877) 292-0009.

About Carl

Carl Martel is the president and portfolio manager of Montag Private Wealth. Along with more than 15 years of capital market experience and 10 years of experience in real estate hard assets, he is a Chartered Investment Manager® and holds a Certificate in Derivatives Market Strategies from CSI Global Education, a Masters of Science from Laval University, and an MBA from l’Université du Québec à Montréal. A focused and pragmatic, results-oriented investment professional and entrepreneur, he specializes in serving the unique financial needs of high net-worth individuals and families, foundations and endowment funds, and business owners. To learn more, visit or connect with Carl on LinkedIn.