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Investors are typically loath to change their financial advisors for fear of change, often insulting their advisor because their parents or a friend referred them or being unsure on how to find another one.

Not all financial advisors are alike, though, and many of the designations given to them can be easily obtained by anyone who is able to pass a weekend exam, said Jon Ulin, a managing principal of Ulin & Co. Wealth Management in Boca Raton, Fla. Many of them have obvious conflicts of interest issues, because they sell high commissioned proprietary products and are likely to steer you towards them in order to meet their sales quotas.

Advisors should also help their clients establish an investment policy statement that sets out the individual's return objectives and risk tolerance while factoring in their liquidity needs and tax circumstances, said Robert Johnson, president of The American College of Financial Services in Bryn Mawr, Pa.

"The IPS sets out the ground rules of the investment process and includes the target asset allocation," he said.

Advisors who are difficult to reach or can not spend enough time to explain how to increase your wealth or a particular investment should be fired.

"The best client is an educated client and a major role of the financial advisor is to educate the client on the whys of the strategy for building wealth," Johnson said. "The biggest reason for switching your financial advisor is if there are any trust issues.

Here are the top 12 reasons to make the switch from your current financial advisor to a new one.