Financial Freedom in Retirement Blog

We believe today's saver deserves much more! Improper alignment of financial tools with your needs and preferences is the major source of missed opportunity, disappointment and regret.
And you know what? It doesn’t have to be that way!

By: George Wells


January 17, 2019

7 Basic Questions You Should Ask Every Financial Advisor You Meet

Topics: Financial Advisor Information

Seeking professional financial guidance can be an emotionally stimulating event.  For many, fears, frustrations, and fantasy of ideas can be distracting and you know what, it doesn’t have to be that way.  
It may not need to be a long term relationship, but often the products and tools you select may require a long term commitment to see results you hope for or the product itself may restrict access to your funds for a time.


In this digital age, there is a movement from the traditional relationship driven advisor roles. "My advisor may not be the best in all areas, but I know and trust them, so I am fearful to entertain other influencers" is changing to "I want to be sure my Solution Strategy fits my needs that I am aware of AND the needs that I wouldn’t even know to ask about."  As you go through these seven questions, you can determine if you are talking to the right person.

Find Out If You Have a Good Financial Advisor by Asking All These Questions

  1. Fiduciary - Give me a few examples of why being fiduciary matters, and how that fits with your practice.
  2. Specific Expertise - If you had to summarize your area of expertise in the vast world of financial advisors, how would you describe what you are best at in the field?
  3. Unique - What is your method for discovering and understanding how my situation is similar to unique from others you serve?
  4. Investment Philosophy - All professionals have tendencies to use specific investment strategies.  In general, what do you find has worked well over the years?  And Why?
  5. Passion - What about the financial services business caused you to enter as a profession?  How does it fit your personality?
  6. Education - What training and education qualify you to be an authority?
  7. Fees - I know there are obvious and not so apparent fees with any investment available.  Can you give me a few examples of those with a few of the strategies you have implemented?

As you hopefully can see, asking these questions doesn’t require significant financial knowledge.  However, his / her verbal and nonverbal response will tell you a lot about who you are dealing with and if you should proceed to a financial interview.

Before You Commit to an Advisor, Make Sure You Know

  • What’s in it for you?
  • What’s in it for them? 
  • How can the Solution Strategy be adapted as needed?

 NEXT: Financial Advisor: Searching, Rating, and Comparing Made Easy by FundMax

When used appropriately, we have seen this Report Card help to significantly aid in preparing to Retire Happily Ever After... 

Retirement Report Card Download

Our first objective will be to understand your needsthen together, affirm that you are indeed financially "All Set” or highlight areas of missed opportunity based on your Report Card score. FundMax has been affirming that savers are 'All Set' for many years by listening and facilitating. Now you can take advantage of the same experience.Let's Talk
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