14 Questions to Ask A Financial Advisor

  1. Are you a fiduciary?

Yes. I am a fiduciary. From an SEC perspective, that means I list in my ADV form 2 how I get paid, the services I offer, and any conflicts of interest. Being a fiduciary means more than that to me: I put my clients interests ahead of my own. I work with trusted 3rd parties. I look for the best products for clients, taking into account quality, cost and timing. I don’t take any commission of any sort.

2. How do you get paid?

There are three ways I get paid:

  1. Providing financial services on an ongoing basis. Monthly subscription of $125/month.

  2. Creating a financial plan ($125/hour approximately 8-12 hrs).

  3. 1% of assets under management

    For details on these offerings see Services.

3. What IS YOUR “all in” cost?

In addition to the services I outlined above, you would pay:

  • If I am managing your accounts, you would pay $15.95 per trade through my custodian, SSG.

  • Standard capital gains/losses on trades

  • .04%/year on ETFs (that comes to 40c per $1000/year)

4. What sort of tools do you use for budgeting?

I have a spreadsheet that utilizes a range of custom formulas that makes itemizing expenses, income and savings simple and easy to understand . Additionally, I have a variety of software and tools that facilitate the financial planning process.

5. How Do you deal with security?

My clients security is my top priority and is integral to my business. All of our assets are protected by multiple sets of encryption. Online access to accounts are protected. I use 2- factor authentication when sharing client information. Any spreadsheet/worksheet that I use is protected with unique and secure passwords.

It’s not easy finding a financial advisor

He or she needs to be someone you can trust with your hard earned money and you need to feel comfortable speaking candidly with them about your concerns, wants and needs. Asking these questions can help you decide if this person is a good match for you and your family.