5 Questions to Ask a Financial Advisor

Young couple meeting financial advisor for investment
28 Jan 2019
If you’re looking for a financial advisor, you want to find the best fit for your needs. We look at 10 questions to ask a financial advisor.

Getting and keeping your finances in order is vitally important especially so in today’s world where everything is going up in price on a daily basis. Understanding what you have and what your money can do for you will help you navigate life’s financial waters.

How can you best do this? By obtaining the services of a financial advisor – specialists who can help you manage, save or even invest your money sensibly. As good as these services may be you do not want to just jump in without doing your homework.

Keep reading to see the five key questions to ask a financial advisor before committing to their services.

How Do I Pay You?

Before entering into any agreement, it is important to understand how transactions will be handled. There are different payment plans and schemes operated by different financial advisors.

You are best to start with a fee-only agreement, as there is no commission due. Just a standard fee payment. Nice and simple. For those just starting out and in need of basic advice a robo-advisor could also be an option.

What Fees Do I Pay?

Understanding how to pay your advisor is important, but second to that is knowing what it is you are paying for. When looking to invest or bank your money, there will always be fees involved.

You need to get these lined up and written out, because over time these fees can be a real killer, stripping away your savings without you even realizing it.

What Is Your Investment Methodology?

There is no one tried and true investment methodology. Every financial advisor has a different approach and tactic base they rely on.

One of the best questions to ask a financial planner is what their preferred approach is. Make sure you are both on the same page with what you want and how do you want to get there. If you don’t line up, then it’s best to keep looking.

How Much Contact Will We Have?

Do you want to have regular contact with your advisor, or are you happy to hand the reigns over to them and let them work their magic?

One of the first financial advisor questions you can ask is about how frequently you want to have contact. Much like the tactic discussion, if you cannot reach a satisfactory compromise on contact, then you are best to keep looking.

What Are Your Qualifications?

Qualifications are all important. When you hire a financial advisor you are looking to put your trust and your finances in the hands of someone that knows what they are doing.

It stands to reason therefore that one of the first questions to ask a financial advisor are about their qualifications. Where did they go to school, how long have they been in the business? These are fundamental questions that can put your mind at ease before you signed on that dotted line.

Now You Know the Questions to Ask a Financial Advisor

When you are talking about your finances and investment plans, you are talking about your future. This is a topic you should never stop asking questions about. So be sure you follow these questions to ask a financial advisor.

Are you ready to take control of your financial future? Get in touch with us today, and we can see how we can help you plan best for tomorrow.

Feel free to check out some of our other posts for more information on how to best manage your investments and assets.


Daryl Seaton