How to choose a financial advisor and the questions you should ask him


6. Does your business hold my money and my investments?

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Your financial advisers should not come into contact with your assets (except for the fees you pay for their services). Instead, the advisor should contract with a reputable custodian, which could be a third party or owned by his company.

Well-known third-party custodians include Charles Schwab, Fidelity Institutional, Pershing / BNY Mellon, TD Ameritrade, and LPL Financial.

7. What is your investment philosophy?

How to choose a financial advisor - Investments

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This is the most basic question that any retirement advisor should be able to answer without hesitation. You should hear about the discipline behind investing strategies and how those strategies will help you achieve annual returns designed to meet your investment goals. All of this should be provided in simple terms that you can understand.

8. How will we approach my investments?


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You should expect quarterly contact at a minimum. The monthly is even better. Your advisor should explain each buy or sell transaction, and he should provide periodic reviews of the condition of your portfolio, including educational resources, if applicable (or if you request them).

9. What happens to my money if something happens to you?

How to choose a financial advisor

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Your advisor should be able to answer this question in sufficient detail that you are sure there is an exit plan if he retires, leaves the company for another job, or is unable to continue to do so. to serve. You need to know how your financial affairs will be managed and who will look after it.

10. Is there something I forgot to ask you?

Money - Life Insurance

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Finally, ending an interview with this question can be very revealing. Even if you think the answer is no, it can demonstrate a level of engagement with a potential financial advisor. Still, it’s possible that you missed something in your conversation, and now is a good time to advise him to bring up something important.

The basics of how to choose a financial advisor

How to choose a financial advisor

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Asking the right questions and listening carefully to the answers you receive can especially help you decide if there is a good match. If you are in a relationship, both partners should feel comfortable with the financial advisor. Philosophy, fees, qualifications and more come into play.

Remember, choosing a retirement advisor is no easy task. You may need to interview multiple candidates before you find the right one.

Working with qualified advisors like Teton Wealth Group Advisors can really help you get to where you want to be in your retirement. Even though it’s in a recession.

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