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Questions to Ask a Financial Advisor Before you Hire Them

Questions to Ask a Financial Advisor Before you Hire Them

July 01, 2022
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Questions to Ask Your Financial Advisor Before you Begin Working With One

When it comes to money, everyone has different goals and concerns. Some people want to save for retirement, while others are focused on building up their emergency fund or investing in a property. No matter what your financial goals may be, hiring a financial advisor can be a helpful step in achieving them.

A financial advisor is a professional who can provide guidance and advice on all things related to your finances, from budgeting and saving to investing and retirement planning. While there are many qualified financial advisors out there, finding the right one for you can take some time and effort. Before you start meeting with potential advisors, it’s important to have a clear idea of what you want and need from the relationship. To help you get started, here are some important questions to ask a financial advisor before you hire them:

What are your qualifications?

In addition to experience, you'll also want to make sure your financial advisor is qualified to help you reach your financial goals. Ask about their educational background and any professional qualifications they may have.

Have you ever been disciplined by a professional organization?

If your financial advisor has ever been disciplined by a professional organization, that's a red flag. Ask about any disciplinary actions taken against them and why they happened. This will help you determine if they are someone you can trust to give you financial advice.

What is your experience in the financial industry?

Experience and track record is extremely important when choosing a financial advisor. Make sure to ask about their specific experience in the industry, as well as how long they have been working with clients.

What is your investment philosophy?

It's important to make sure that your financial advisor's investment philosophy aligns with your own. Ask about their thoughts on risk tolerance, asset allocation, and active vs. passive investing.

What are the fees associated with your services?

Fees are an important consideration when choosing a financial advisor. Make sure to ask about all the fees associated with their services, including any asset management fees, transaction fees, or commission-based fees.

What is your process for working with clients?

You'll want to get a sense of your financial advisor's process for working with clients. Ask about how they develop investment plans, how often they communicate with clients, and what kind of support they offer.

What experience do you have with clients in my situation?

If you have a unique financial situation, you'll want to make sure your advisor has experience working with clients like you. Ask about their experience with clients who have similar goals, risk tolerances, and investment portfolios. What are the potential conflicts of interest in our relationship? It's important to be aware of any potential conflicts of interest that may exist between you and your financial advisor.

For example, if they are also an insurance agent, they may sell you an insurance policy even if it's not the best product for you. Make sure to ask about any potential conflicts of interest so you can make an informed decision.

How often will we communicate?

You'll want to make sure that you're on the same page with your financial advisor when it comes to communication. Ask about how often they will give updates on your investment portfolio and whether they are available to answer any questions you may have.

What is your process for handling problems or complaints?

If you ever have a problem or complaint with your financial advisor, you'll want to know how they will handle it. Make sure to ask about their process for resolving problems and what kind of support they offer if you're not satisfied with their services.

How do you plan to keep me informed about my progress?

You'll want to make sure you're kept up-to-date on your progress towards achieving your financial goals. Ask about the frequency of communication and how your financial advisor will keep you informed.

What happens if we decide to part ways?

If you decide to stop working with your financial advisor, you'll want to know what will happen to your investment portfolio. Make sure to ask about their process for transferring assets and whether there are any fees associated with it.

Do you have any questions for me?

This is an important question to ask at the end of the meeting. It shows that you're interested in working with the advisor and that you're willing to open up about your financial goals and objectives.


When it comes to finding a financial advisor, it's important to do your research and ask the right questions. By asking the questions in this article, you'll be able to get a better sense of who your financial advisor is and whether they have your best interests in mind. Ultimately, you want to work with someone you're comfortable with and who will help you achieve your financial goals.