Ten Questions to Ask Before You Hire a Financial Advisor

Hiring a financial advisor is a relationship decision as much as a financial one. The easiest way to reduce regret is to ask questions that reveal process and fit.

Here are 10 to bring to an introductory meeting.

1. How are you compensated, and what will I pay in dollars?
   Percentages matter, but dollars matter more.
2. What services are included?
   Planning, investments, tax coordination, insurance review, estate coordination. Get specifics.
3. Who is your typical client?
   You want an advisor who routinely solves problems like yours.
4. Will you act as a fiduciary at all times?
   Do not assume. Ask directly.
5. Who will I work with day to day?
   Is it one person, a team, or a rotating staff?
6. How often will we meet and how will we communicate?
   Frequency should match complexity and preference.
7. How do you build and manage portfolios?
   Ask about philosophy, risk management, and rebalancing.
8. How do you handle taxes?
   Do they coordinate with a CPA? Do they discuss asset location and withdrawal sequencing?
9. What happens in a bad market?
   This reveals discipline and a communication approach.
10. How do you define success?
    Is it beating a benchmark, or meeting goals with a sustainable plan?

A good meeting should leave you with a clear sense of the advisor’s process, your role as a client, and the total cost. If you leave confused, slow down.