By Eric Kearney

While some people in the retirement-planning stages worry about outliving their money, others have a different concern: that their money is outgrowing their investment advisor.

It’s not unusual for the size of the client’s investment to increase well beyond their advisor’s level of experience and knowledge. Higher net-worth individuals often demand more creative, sophisticated planning for their needs than their original advisor is able to provide.

“Many affluent clients have graduated from their advisor’s capabilities, but are still working with someone who cannot handle their larger financial needs,” says Eric Kearney (www.erickearneyadvisor.com), an investment advisor for Retirement Wealth. “This can be costly, both in terms of investment potential and time wasted, so the client has to pay attention and know when it’s time to change advisors.”

Kearney lists three signs that your money has outgrown your advisor:

Outdated Portfolio

Outdated portfolio. Kearney says a typical scenario sees someone continually growing their net worth, then later realizing that their portfolio never really changes. “The advisor is using the same approach over and over again,” Kearney says.

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