You’ve worked hard and saved carefully, and have decided to make your money start working for you. This is a good time to partner with a trusted professional to help invest your savings properly. At Adviser Investments, we’ve been helping our clients build wealth and achieve their financial goals since 1994. And whether you’re considering working with us, or with someone else, we’d like to help you find the right adviser.
Before signing the paperwork, we believe it is important to ask a series of questions to figure out whether you’re hiring someone compatible with you and what you expect to get from the relationship. No two financial advisers are alike, and neither are their clients.
As you look over the questions we’ve compiled, some may be particularly relevant to your circumstances, while others may not. So take the time to think not only about these questions before interviewing your next financial adviser, but also about the kind of answers you’d expect to hear from that person. This is not an exhaustive list; it is merely intended to help you further this important conversation. So don’t be shy about asking any other questions you may have.
After all, it’s your money. Deciding how it’s managed and finding the right partner to help you do it are the foundation of a successful, long-term investment relationship.
Subjects to Consider
Philosophy
Before diving into the details, we believe it’s important to get an overall sense of the adviser’s approach to investing and the markets. Not only is it prudent to understand the adviser’s investment philosophy, but also to know if it meshes with your own. An adviser who believes in diversification and long-term investing, for instance, will not be compatible with an investor looking for rapid trading and market-timing.
Experience and Qualifications
It doesn’t take a lot to hang out a shingle and claim to be an investment adviser. Years of experience in the business and a strong core of clients are several characteristics that can demonstrate the stability of someone you’re entrusting with your money. And while it might be uncomfortable to bring up, you should always ask whether the prospective adviser has ever been disciplined by any professional or regulatory bodies.
Services
Services and specializations vary widely from firm to firm. It’s important to understand, up front, how an adviser’s particular expertise or the services provided line up with your needs.
Costs
How is your adviser paid? In an industry where technical jargon can quickly become confusing and overwhelming, an adviser should clearly communicate what services you’ll be getting and what you’ll pay for it as well as the ways the adviser is compensated.
The Right Fit
In our 20-plus years of listening to and working with clients, we’ve learned that no financial adviser is right for every type of client. Yes, you want to make sure their investment strategy is the right fit for you, your family and your individual objectives. But chemistry with you and commitment to clients are also important to gauge.
Sample Questions to Ask
This material is distributed for informational purposes only.
Our statements and opinions are subject to change without notice and should be considered only as part of a diversified portfolio. You may request a free copy of Adviser Investments’ Form ADV Part 2, which describes, among other items, risk factors, strategies, affiliations, services offered and fees charged.
Past performance is not an indication of future returns. The tax information contained herein is general in nature, is provided for informational purposes only, and should not be construed as legal or tax advice. We do not provide legal or tax advice.
Always consult an attorney or tax professional regarding your specific legal or tax situation.
©2017 Adviser Investments
