Want to see if you’re getting all of the benefits you’re entitled to from your advisor? Ask yourself, and your advisor, these tough questions...
Does the advisor offer a satisfaction guarantee?
You should be able to request a refund for any planning advice you deem unsatisfactory.
Is the advisor acting in your best interest?
Only a registered investment advisor is held to a fiduciary standard, meaning that he or she is required to place your needs above all others. Ask your advisor for form ADV part 2, a required disclosure document.
Does the advisor offer a written agreement covering services and fees?
Advisory agreements should be in writing and provide important clarification of roles and responsibilities.
How much experience does the advisor have?
Look for an advanced designation such as the industry leading CFP®, and a minimum of 10 years of experience to cover a wide range of market environments.
Are the advisor’s registrations, licenses and designations valid?
Do your due diligence. Check the consultant with the:
Certified Financial Planner Board of Standards, Inc.
Financial Industry Regulatory Authority
Securities and Exchange Commission
North American Securities Administrators Association
National Association of Insurance Commissioners