When it comes to your financial future, finding the right advisor is a major life decision that can impact the trajectory of your finances throughout your lifetime. Finding the right person can be challenging, but it’s not impossible. That said, here are three questions you should always ask.
1. What are your credentials?
Our industry is full of fancy acronyms, designations and certifications that mean different things, such as fiduciary, or CFP, or insurance licensed. Different credentials denote different areas of expertise. You’ll want to ensure you are working with an advisor whose expertise aligns with your needs. So, don’t be afraid to ask about their current credentials and follow up with ‘what does that mean?’
2. How do you get paid?
Transparency of fees is really important within our practice. That said, I can’t tell you how many prospective clients we meet who don’t know how their existing advisor is compensated. Advisors can get paid in a multitude of ways – so make sure you ask. After all – you want to know how much you’re paying, right?
3. How often will I hear from you?
Sometimes we hear prospective clients say that they hadn’t heard from their existing advisor in years. In our practice we have annual, sometimes bi-annual meetings with our clients, and strive to get back to clients on the same day. You’ll want an advisor who is proactive with communication and easy to reach when you have a question. You deserve an advisor who makes you a priority.
We hope these tips are helpful along your journey to find the right financial advisor. If you think we might be that firm, let’s have a conversation.
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