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Richard Tanner
Ownership Advisors, Inc.
6100 Oak Tree Blvd., South
Park Center Plaza 1, Ste. 420
Independence, Ohio 44131

Phone: 216-328-5538
E-mail: rtanner@ownershipadvisors.com



10-07-2004 - Cleveland, OH

September 29, 2004--Cleveland, Ohio-- Imagine you’re moving your family across country and you pack your wife, kids and everything you own in a truck and hire a driver who you will trust to drive you across the country and manage every aspect of the trip. “In a similar way, the financial advisor you hire will be driving the truck filled with your family’s financial future through its lifetime,” says Richard Tanner, a family wealth counselor and President of Ownership Advisors, Inc. in Cleveland, Ohio. “Who you hire will, to a great extent, determine if your family safely gets to the financial destination you’ve planned,” he adds.

Tanner uses the acronym TRUCK to describe 5 tips to consider when choosing a financial advisor:

T TRUST: It is critical that at the end of the day you feel you can trust the advisor you’re working with. How you come about those feelings might be through the next letter:

R RELATIONSHIP: Consider how that advisor will relate to people in your family or around you. The advisor must have a successful relationship with your wife or children if you weren’t around? Also, how will that advisor relate to other advisors on your team such as an attorney or accountant.

U UNDERSTANDING: The advisor must be able to communicate with you at a level you and your spouse can understand. The clarity of communication, both verbal and written, must be understandable and you and your spouse must be comfortable asking questions. At the end of a meeting, are you able to explain what you learned to your 17 year old son or daughter?

C CAPACITY: What is the advisor’s capacity to do the things that need to be done for your planning. Ask questions like, “what is your capacity to implement investment or insurance recommendations?”

K KNOWLEDGE: Most people erroneously believe the way to judge a financial advisor is by their designation. Do they have CLU, CFP, CHFP or are they an attorney or accountant. While these designations represent some ability, they often represent an ability to pass tests and not necessarily be a good advisor. Everyone asks, “what’s your background?” It’s more important to look for evidence that the advisor and his team can solve complex problems. Not every advisor will have every designation so it’s important to ask about the support team and the abilities they have. A stock broker may not have all the knowledge you require but his firm may employee those that do, such as an attorney or CPA. Make sure the employees that will be on your team are available at the level you require.

Mr. Tanner is a Registered Principal with and offers securities through Linsco/Private Ledger, Member NASD/SIPC.