Are you a fiduciary?

Fiduciaries are legally required to put your best interest first, so the advice you receive should be purely focused on achieving your goals, not generating commissions for them.

How do you get paid?

The compensation structure of an advisor can influence the advice you receive and the products they recommend. Understanding whether the advisor is fee-only, commission-based, or a mix of both can help you discern an advisor's incentive when making decisions on your behalf and giving you recommendations.

What credentials do you hold?

Respected designations like CFP®¹, CPA², or CFA®³ reflect expertise, integrity, and a commitment to best practices.

What services do you provide?

It’s always worth knowing what you’re paying for. Is the value of the advisor solely wrapped up in managing your investments? Or do they (or their firm) have the resources and expertise to integrate tax strategies, retirement planning, and estate management into one comprehensive financial plan?

Do you provide tax planning and/or tax preparation?

Short-term and long-term tax planning can impact your overall financial plan and should be conducted annually. Will the advisor coordinate with your tax preparer to offer proactive tax planning year after year? Better yet, does the advisor offer tax preparation services so that both the planning and the filing of your taxes are fully integrated?

What makes you different from other advisors?

Ask what sets them apart, such as a holistic approach, a coordinated team, or specialized services, and evaluate if these differentiators resonate with your needs and values.

What experience do you have with clients like me?

Advisors often specialize in different client profiles. Whether you're preparing for retirement or managing generational wealth, knowing that the advisor has worked with similar individuals/families will give you confidence as they help you navigate your unique circumstances.

How often will we communicate and what will we talk about?

A good advisor keeps you informed and involved. Ask yourself the following questions:

Do they proactively schedule regular check-ins and updates? Or are they more reactive in their approach? When you do get together for meetings, what do you talk about?

An advisor should do more than talk about investment returns. They should ask good questions and seek to understand your goals, as well as how those play into your financial plan, tax planning strategies, insurance coverage, and current estate plan.

What are some of the mistakes you've seen people make? What are some of the successes?

A seasoned advisor will have had the distinct pleasure of walking hundreds of families through all of life’s seasons. This puts them in a unique position to say ‘I’ve seen this before’ and offer you wisdom as you navigate both the joyful and challenging seasons of life.

When you have a client pass away, what role do you play for the surviving spouse or heirs?

A good advisor will ensure all the i’s are dotted and t’s are crossed in preparation for this event. Once it happens though, it’s important to know how they will support surviving loved ones. Are they familiar with your estate plan? Will they coordinate with your attorney and tax accountant through the transition? How will they provide peace of mind?