Summary of "Our Advisor Has Stopped Returning Our Calls" – Ramsey Everyday Millionaires

Release Date: May 5, 2025

In this compelling episode of Ramsey Everyday Millionaires, hosted by the Ramsey Network team—including Dave Ramsey, Ken Coleman, and Rachel Cruze—a listener named Dina shares her troubling experience with her financial advisor and seeks guidance on navigating her investments amid market uncertainty. The hosts provide insightful analysis, practical advice, and reinforce foundational wealth-building principles to empower listeners facing similar challenges.

Listener's Concern: Unresponsive Financial Advisor and Questionable Investment Advice

Dina's Situation ([00:44] - [02:19])

Dina, a 54-year-old part-time worker married to her 60-year-old husband, approaches the hosts with concerns about their current investment strategy. Together, they have approximately $1.8 million invested primarily through RBC Wealth Management. Recently, their investment manager issued a memo titled "On Bubble Watch," predicting a severe market correction. Following this, Dina moved $200,000 into an annuity offered by Jackson National Life Insurance Company, which provides a guaranteed 5% option rate over five years. Dina's financial advisor has become unresponsive, making it difficult for her to seek clarification or express her concerns.

Key Excerpts:

• Dina ([01:05]): "We're invested with RBC Wealth Management. The bulk of our money... I was wondering if, A, that was the correct move, and B, what are you seeing in terms of what we should be doing long term, given our age."

Hosts' Analysis: Questioning the Advisor's Actions and Strategy

Ken Coleman's Perspective ([02:19] - [04:49])

Ken Coleman critiques the advisor's decision to shift a substantial portion of Dina's investments into a fixed annuity. He emphasizes the importance of maintaining a long-term investment strategy, particularly for individuals around Dina's age. Ken likens the stock market to a roller coaster, advising against making hasty decisions based on short-term market movements.

Key Excerpts:

• Ken Coleman ([03:38]): "No. I mean, no, I would. I would not do this. I would unwrap whatever you just did."
• Ken Coleman ([07:02]): "Those who stay are going to win. They're going to win big."

Rachel Cruze's Insights ([02:46] - [08:34])

Rachel Cruze echoes Ken's concerns, highlighting that financial advisors often receive significant commissions from selling annuities, which may conflict with clients' best interests. She underscores the unpredictability of the stock market, noting that guaranteed rates like the one offered by Jackson National are enticing but may not yield the best returns over time.

Key Excerpts:

• Rachel Cruze ([03:21]): "I don't think that was the right move."
• Rachel Cruze ([07:32]): "Life events... it's just this ride. And the fact that he went on, like, this drama mode as an investment professional is not one that I would."

Core Insights: Upholding Long-Term Investment Strategies and Choosing the Right Advisor

Staying the Course ([04:49] - [07:45])

The hosts collectively stress the importance of adhering to a disciplined, long-term investment approach. They caution against reacting to daily market fluctuations and fear-based advice, which can lead to detrimental financial decisions. Ken and Rachel advocate for investors to remain committed to their investment plans, as history has shown that markets tend to recover and grow over time despite short-term volatility.

Key Excerpts:

• Rachel Cruze ([05:26]): "A lot of people do annuities out of fear. It's a fear-based type of investment because it's a guarantee and all that."
• Ken Coleman ([06:38]): "Those who stay will be the big winners in this deal."

Selecting a Trustworthy Financial Advisor ([05:40] - [08:27])

Addressing Dina's predicament, Ken and Rachel advise her to seek a new financial advisor who aligns with Ramsey's principles of transparency, responsiveness, and fiduciary responsibility. They recommend using Ramsey Solutions' SmartVestor platform to find qualified advisors and suggest interviewing multiple candidates to ensure a good fit. The emphasis is on finding an advisor who communicates effectively and prioritizes the client's long-term financial health over sales commissions.

Key Excerpts:

• Ken Coleman ([05:40]): "I think you'd be looking for a new person. I really would. And I would go to ramseysolutions.com, click on Smartvestor Pro and go do your own search for somebody."
• Rachel Cruze ([06:04]): "Ask... and ask, that's it."

Conclusion: Empowering Investors Through Informed Decision-Making

The episode concludes with a reaffirmation of the core Ramsey Network ethos: building wealth through disciplined saving, smart investing, and avoiding debt. Dina's experience serves as a cautionary tale about the importance of selecting the right financial advisor and maintaining a steadfast investment strategy despite market uncertainties. The hosts encourage listeners to educate themselves, remain patient, and seek professional guidance that genuinely serves their financial goals.

Notable Quotes with Timestamps

• Ken Coleman ([02:19]): "The stock market's like a roller coaster. You only get hurt if you try to get off in the middle of the ride."

• Rachel Cruze ([03:21]): "I don't think that was the right move. I don't know why. He's having some drama moments."

• Rachel Cruze ([05:26]): "A lot of people do annuities out of fear. It's a fear-based type of investment because it's a guarantee and all that."

• Ken Coleman ([07:02]): "Those who stay will be the big winners in this deal."

• Rachel Cruze ([07:32]): "Life events... it's just this ride. And the fact that he went on, like, this drama mode as an investment professional is not one that I would."

• Ken Coleman ([08:07]): "Those things are designed to freak you out in the first place."

Final Recommendations

For listeners experiencing similar issues with unresponsive or questionable financial advisors, the Ramsey Everyday Millionaires hosts recommend:

1. Evaluate Your Current Advisor: Assess whether your advisor aligns with your financial goals and demonstrates reliability and transparency.

2. Seek Multiple Opinions: Utilize resources like ramseysolutions.com and the SmartVestor platform to consult with multiple advisors before making decisions.

3. Stay Informed and Committed: Maintain a long-term investment perspective, resist panic-driven decisions, and continue to educate yourself on sound financial practices.

By following these guidelines, investors can better navigate financial uncertainties and work towards building lasting wealth.