Working with a savvy financial advisor is one of the smartest moves you can make. To learn more about what you should ask your financial planner when considering them for the job, continue reading.
Why Hire a Financial Advisor in the First Place?
They can keep your money safe. You don’t have to be a millionaire to be great with your money, after all. You can also learn more about trading in the stock market and learn when to collect SS — your Social Security benefits.
However, when hiring your ideal certified financial planner, you should be aware of some of the top questions you must know before bringing them onboard.
1. Can They Outline Their Investment Philosophy?
This should be one of the first questions you ask your potential candidates. Their philosophy, when it comes to investing your money, will reveal whether the relationship will work out in the long-term. Ideally, they should have similar values to you.
2. Are They a Fiduciary?
The answer should be yes. Fiduciaries are legally obligated to act with their clients’ best interests in mind.
3. How Long Have They Been in the Business?
When hiring someone, it’s crucial to gauge their experience. You should also inquire about their past clients. Did they see the results they sought out? Look for testimonies and reviews to find out more information.
4. How Often Can They Brief You?
Aside from phone calls, you’ll also want to meet with your advisor in person to see if your money is working for you. Therefore, see what their schedule is like and how much time they can put aside for you each month.
From Social Security, and Planning for Retirement to Everyday Financial Decisions
An advisor has your best interests in mind, whether you’re debating when to collect your Social Security or need to know whether to place your money in the stock market.
However, selecting the best advisor for you can be tricky. Therefore, ensure you’re narrowing down the competition by asking the right questions. Use these questions as a guide and template to help get the dialog going!