by Lance Gilman
With so many people marketing themselves to the public as financial advisors, it is clear why some consumers are confused about who to select, and more importantly, why to select a certain person or firm. In this month’s column, I’m sharing thirteen questions you should ask any person you are considering as a potential financial advisor.
If you already have a financial services professional, use the following as a quiz to see how well you know your advisor.
- Are you a fiduciary?
- What are all of the services that your firm offers?
- What are all the costs and fees associated with investing/working with your firm?
- Specifically, how are you compensated as an advisor?
- Who does your firm use as a custodian?
- How long have you been a financial advisor? Please tell me about your experience so far.
- What is your educational background? Do you have designations or are you credentialed in the financial planning industry?
- Can you please share a copy of your disclosures with me?
- How do you communicate with your clients and what is the frequency?
- What type of access will I have to track my accounts?
- What is your firm’s investment philosophy?
- How quickly can I access my money should I need it?
- What are the most important concepts that you want me to remember about you and your firm?
As always, I hope this helps you and your family to make better financial decisions. See you next month.
Jac M. Arbour, CFP®, ChFC®, President
J.M. Arbour Wealth Management
77 Water Street | Hallowell, ME 04347
phone: 207-248-6767 | cell: 207-431-3376 | fax: 207-620-7264
What is the maximum Social Security wage limit for 2018? A. 108,750 B. 128,700, C. 132,570, or D. 142,250?
Answer can be found here.
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