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Questions You Should Ask Before Hiring a Financial Advisor

When it comes to finding a partner to help you manage your wealth, the decision is as personal as it is financial.

Are You Working with the Right Financial Advisor?

Whether your financial professional has retired, switched companies or your investment firm has recently merged, you may be faced with the decision of working with the new default advisor or considering a change.

For Better or Worse

A financial advisor can have a tremendous impact on the financial decisions you and your family make. Financial professionals help you with important decisions such as choosing risk & investments, navigating taxes, deciding when to retire, planning your estate, determining how to save and distribute your assets, and how to navigate market volatility. You need to find the one that’s right for you.

Ask the right questions

This will help set your expectations and eliminate surprises in your financial advisory relationship. To help you, we’ve put together these 5 key topics that you should be asking professionals about when considering a financial and investment planning relationship.

What is Your Formal Education and Experience?

  • How long have you been a financial advisor?
  • What's your educational background?
  • What professional certifications do you have?
  • How do you keep your professional knowledge up to date?
  • Do you or your firm have any formal complaints or disclosures?

How Many Clients Do You Work With?

  • How many clients do you work with now?
  • How many total clients do you eventually want?
  • How often should I expect to meet with you?

What's Your Financial Planning & Investment Philosophy?

  • What type of services do you provide?
  • What's your investment philosophy?
  • What advice to do you provide to clients during market corrections?
  • What's your approach to financial planning?
  • How have you done financially?
  • Do you invest in the same or similar investments as your clients?

How Do you Get Paid?

  • How are you compensated for each of your services?
  • Would I pay you a fee? Is it a flat fee, or based on my account size?
  • What additional fees should I be aware of?

What's Your Vision for the Future of Your Practice?

  • How long do you plan to practice?
  • What's your seccession plan? If something were to happen now or retirement?
  • What's one thing you would like to improve about your practice or business?
  • Do you plan to stay in this role, or could your career path will take you in another direction or leadership position?

While this guide will help you prepare for a meeting with your current or a prospective financial professional, it’s just the first step to building a trusted relationship.

If you want a second opinion on your financial plan or would like to learn more about how we’re different than other firms, call us today to meet with one of our financial advisors. We’re ready to talk to you honestly and openly about who we are and how we support our clients. We’ll also provide you with a FREE, no obligation, evaluation of your current financial plan and investment portfolio.