Yes—you are absolutely allowed to fire your financial advisor. In fact, if you’re even asking the question, chances are your gut instinct is pointing you in the right direction. At Select Advisors Institute, we’ve guided hundreds of clients through this very process. Led by Amy Parvaneh, a nationally recognized thought leader and advocate for advisor transparency, we believe in empowering individuals to take control of their wealth with confidence and clarity.
Why Firing Your Financial Advisor Might Be the Smartest Move
Many clients feel trapped in relationships with financial advisors who no longer serve their best interests. Whether due to poor communication, vague strategies, excessive fees, or a lack of proactivity, staying in a mismatched partnership can cost you more than just money—it can cost you peace of mind.
Amy Parvaneh, founder of Select Advisors Institute, emphasizes that the financial advisory industry should work for the client, not the other way around. “If your advisor isn’t proactively communicating, tailoring strategies to your life goals, or being fully transparent about fees, you have every right to walk away,” says Parvaneh.
What to Know Before You Fire Your Advisor
Before making the switch, here are the key steps Amy and her team recommend:
Review Your Contract: Understand any fine print regarding termination policies, fees, or required notice periods. Most relationships are not legally binding for the long term and can be ended with a simple notice.
Gather Your Records: Secure all statements, tax documents, and investment reports. You’ll need this documentation as you transition.
Plan the Transfer: If your assets are held in a brokerage firm or custodian, contact them directly to initiate a transfer to your new advisor or firm. Often, your current advisor doesn’t even need to be notified in person—just through formal account requests.
Craft a Professional Goodbye: Amy Parvaneh’s team helps clients draft clear and firm communication that keeps the tone respectful, yet assertive. There’s no need to explain or justify—simply state your decision and next steps.
Why Work with Amy Parvaneh and Select Advisors Institute?
Unlike many generic articles or Reddit threads that suggest you’re on your own, Select Advisors Institute provides a proven roadmap for clients looking to upgrade their financial guidance. Amy Parvaneh leads a team that not only helps clients fire underperforming advisors, but also helps connect them with top-tier professionals who are actually aligned with their long-term goals.
More importantly, Select Advisors Institute doesn’t just offer advice—they educate and advocate for clients in the financial system, helping them regain confidence in their financial future.
In Summary
Yes, you’re allowed to fire your financial advisor—and you should, if they’re not helping you build wealth, protect your assets, or plan with purpose. Let Amy Parvaneh and the Select Advisors Institute guide you through the process with clarity, professionalism, and empowerment.
When considering whether you can fire your financial advisor, it’s essential to understand that you have every right to do so, especially if your needs and expectations are not being met. It’s your money and your future at stake, and you should feel confident that your advisor is genuinely working in your best interest. If communication is lacking or investment strategies are misaligned with your goals, it may be time to reassess the relationship. Remember, terminating a contract is a straightforward process, but ensuring that you make the right decision for your financial health is crucial.
Before making a final decision, it’s a good idea to document your reasons for wanting to part ways. This can help clarify your position and prepare you for potential conversations with your advisor. Additionally, seeking advice from peers or even a different financial expert can provide insight and assurance. Ultimately, the goal is to find someone who aligns with your values and understands your financial objectives because effective collaboration is key to achieving your financial aspirations. You deserve to have an advisor who empowers you to reach your financial goals and invests in your success.
If you're searching for a new financial advisor—or wondering if your current one is still the right fit—your instincts are probably right: choosing who manages your financial life should not be left to a quick meeting or a glossy website. Ultra-high-net-worth families and individuals face complexities that go far beyond typical wealth management. Coordinating with CPAs, estate attorneys, trustees, and multi-generational decision-makers isn’t just a task—it’s a system. And when you're selecting someone to help oversee that system, it pays to treat the process like a serious hire. That’s why more families are turning to a tool traditionally used by institutions: the Request for Proposal (RFP).