Ask Your Financial Advisor These Six Questions by Bob Lowry
Not everyone agrees that a financial advisor is necessary. Some of us are quite good at fiscal discipline, understand how investments work, and have the experience and temperament to handle our financial future on our own.
For the rest of us (me!), having someone who can help us minimize mistakes and help us reach our goals is prudent. Just like we shouldn't self-diagnose ourselves when a funny-looking skin growth appears somewhere on our body, our financial health benefits from guidance.
In thinking about this post, I figured there are a probably two dozen questions or concerns I could come up with if I were hunting for a new financial advisor (which I am not). But, that is a bit overwhelming. You might look at such an extensive list and assume that finding the right person is too difficult.
So, I have trimmed the list of key questions to six. The answer to each might lead you to another question or two, and that is good. Though not on the list, the most important question is one you have to ask yourself: are you willing to put in the time and effort to make this selection a good one?
Like most of what I write on Satisfying Retirement, I know that your input and followup are what makes these posts helpful to all of us. My thoughts might suggest other questions or concerns that we need to consider. Your experience may raise a red flag that everyone needs to watch out for. Since I make it quite clear I am not a financial wiz, take a look at my list and then add your ideas.
By Bob Lowry