Questions to Ask

Below are a list of questions you should ask any financial advisor you are considering working with their firm!

Experience & Qualification

  • How long have you been a financial advisor?  
  • What is your educational experience and do you have any industry certifications?
  • Tell me about your experience, career progression and previous employers?
  • Have you ever had an infraction or been disciplined by a regulatory authority?

Investment Services

  • Can you describe your qualifications to manage money for other people?
  • What is your investment philosophy and process?
  • Will I receive a customized investment policy statement (IPS) that fits my risk tolerance and investment preferences?
  • How often do you review your portfolios?  How often do you provide investment reports and do you show performance on both a TWR and IRR basis?
  • Are your investments managed in the same fashion as your clients?
  • Do you use a recognizable third-party custodian to hold your clients assets?

Planning Services

  • Do you provide financial planning services, please describe?
  • Are these services separately charged from your investment service?
  • Do you sell life insurance or other annuities as part of your financial planning service?

Fees and Potential Conflicts

  • How are you compensated and how much will my fee be?
  • Will all fees that are charged by you and the products you use be disclosed to me?
  • Do you accept commissions, revenue sharing and/or soft dollars, will those costs be disclosed to me?
  • Are you compensated for selling products, proprietary or otherwise?
  • Are you an independent advisor or are you affiliated with a larger organization?
  • Are you a Fiduciary and are you willing to take a Fiduciary Oath?