When an advisor has to deliver some bad news to a client

When an advisor has to deliver some bad news to a client  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  VIEW IN BROWSER | SUBSCRIBE WED, JUL 03, 2019 YOUR WEALTH Editor's Note A financial advisor helps you manage money, build wealth and achieve your life goals. Hiring the right advisor allows you to delegate some, if not all, of the responsibilities inherent in managing your finances. It's for that reason you want and need someone to hold you accountable and not be afraid to offer a reality-check from time to time. My financial advisor got me through an incredibly difficult time in my life. He did so by being honest with me and offering sound money advice at a time when I was distracted and had taken my eye off the ball. We should all want a financial advisor who communicates and alerts us that we are not saving enough for our goals, or that we are not taking the right action on things to which we were committed to in our financial plans. No one likes to be called out when they don't follow through on something, but in reality, it's exactly what you want. For more cool stuff like this, please follow me on Twitter @jimpavia and check out CNBC's Financial Advisor Hub and CNBC + Acorns Invest in You: Ready. Set. Grow. Jim Pavia @JIMPAVIA When an advisor has to deliver some bad news to a client We asked nine financial advisors, including eight members of the CNBC Digital Financial Advisors Council, what was the worst news they ever had to break to a client. One-third of Americans have cut their spending this year, and some fear a recession is coming One-third of Americans have cut their spending this year, according to the CNBC + Acorns Invest in You Spending Survey released on Monday. The reasons they cite include fear of a job loss, high medical bills and fear of a recession. This level could determine whether the S&P 500 rally is boom or bust The S&P 500 has already seen fireworks this month. One number could determine whether this rally is for real, but it's not the one most pundits are watching, says technician. California is the latest state to help millions of workers join retirement savings plans California has begun its automatic enrollment IRA program for employers with five or more employees. The effort will bring access to workplace savings plans to an estimated 7.5 million workers. This is what super savers who plan to retire early are doing differently Overachieving savers are socking away $1 out of every $5. And 57% of them plan to retire earlier than their parents did. Here's how they're doing it. Here's the best financial advice these 10 advisors ever received Financial advisors, financial planners, wealth managers and the like are used to offering up advice on a daily basis to paying customers. But what's the best piece of financial advice they ever got? We asked members of the CNBC Digital Financial Advisors Council to share the most important financial insight they ever received. You couldn't do this 15 years ago — now it's costing you a fortune Subscription spending is almost like shopping while you sleep. Many people don't realize how a subscription here and a subscription there add up to hundreds of dollars a month. If you see this while shopping for a new home, run If you think you've found your dream home, hit the brakes and take a few days to do some additional research. That beautiful exterior could be hiding some costly surprises. Bitcoin dives below $10,000, giving up some of this year's epic rally Bitcoin plunged Tuesday to below $10,000, cratering from a 17-month high hit just four sessions ago. The Secure Act may flood your 401(k) with annuities. Here's what you should know While many people may be drawn to the idea of guaranteed income in retirement, experts say it's important to fully understand the pros and cons of annuities before buying one. Fama vs Shiller: Are markets efficient or not? "We had our friend Allison Schrager up at the Compound to talk about the Nobel Prize for Economics that was shared by Professors Robert Shiller and Eugene Fama for their lifetime contributions ..." CONTRIBUTORS Sharon Epperson @sharon_epperson Josh Brown @ReformedBroker Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel   Digital Products Feedback Privacy Policy CNBC Events   © 2019 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS