Hiring a Financial Advisor? Ask These Questions First
Choosing the right financial advisor is one of the most important financial decisions you can make. But most people don't know what to ask. Here are eight questions worth asking, and what to listen for in the answers.
IMPORTANT DISCLOSURE
This post is for educational purposes only and does not constitute personalized investment, tax, or legal advice. All investing involves risk, including the possible loss of principal. Income and positive outcomes cannot be guaranteed. Nothing in this post should be construed as a recommendation to buy or sell any security. Please consult a qualified professional before making financial decisions.
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In other words, are you legally and ethically required to put my best interests first at all times? This is one of the clearest ways to understand how advice is actually given.
OUR ANSWER
Yes, always. Every recommendation we make is based on what's best for you, not what benefits us. There are no product incentives or commissions influencing our advice.
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It's helpful to know what you're actually paying for, whether that's financial planning, investment management, insurance solutions, or some combination of both.
OUR ANSWER
We offer two services: comprehensive financial planning and investment management. We'll discuss which fits your situation best, or whether a combination makes sense. Our planning services include retirement planning, tax coordination, cash flow planning, and helping you think through major decisions as they come up. The goal of both is to give you clarity, not just manage a portfolio in isolation.
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Understanding how your advisor is compensated upfront helps avoid surprises and tells you a lot about where their incentives lie.
OUR ANSWER
We're paid directly by you through a transparent fee. You can find the fee schedule for each service on our home page. There are no commissions or hidden incentives behind the scenes. Our only focus is doing what's right for you.
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Every advisor has a philosophy. This question helps you understand how they think about risk, long-term investing, and navigating different market environments.
OUR ANSWER
Research-driven, disciplined, and goal-based. We're not trying to outguess the market or chase trends. We start with your goals, timeline, and comfort with risk, then build a portfolio that supports that plan. The strategy drives the decisions and the investments are just the tool.
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Nobody loves this question, but it's an important one. A good advisor should be open about any potential incentives or relationships that could influence their recommendations.
OUR ANSWER
Our firm is designed to minimize conflicts as much as possible. We don't receive commissions or incentives for recommending specific products. That said, if anything ever comes up that could be perceived as a conflict, we believe in being transparent and would address it directly with you.
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OUR ANSWER
For comprehensive financial planning clients, we meet several times during the first few months as we build and implement your initial plan. After that, we schedule ongoing check-ins at a cadence that works for you. Many clients prefer quarterly and we're happy to keep that rhythm. For investment management clients, you'll receive detailed quarterly performance reports and a formal review at least once per year.
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You're building a long-term relationship. It's worth understanding how continuity and transitions would be handled down the road.
OUR ANSWER
While we plan to be doing this for a long time, we've built our firm with continuity in mind so that if anything changes, you're not left without support. We're happy to discuss our succession plan in more detail at any point.
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It's helpful to know how easy it is to leave, what the process looks like, and whether there are any restrictions or fees involved.
OUR ANSWER
You're never locked in. If at any point you feel it's not the right fit, you're free to move on and we'll help make that transition as smooth as possible. Our goal is to earn the relationship over time, not rely on contracts to keep it.
