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25 questions to ask when selecting a financial advisor

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Are you considering hiring a financial advisor? Or are you unhappy with your current wealth manager? Here are top 25 questions to help you evaluate and select a financial advisor that is right for …

Are you considering hiring a financial advisor? Or are you unhappy with your current wealth manager? Here are top 25 questions to help you evaluate and select a financial advisor that is right for you.

Published in: Economy & Finance, Business
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  • 1. © 2013 GV Financial Advisors, Inc. All Rights Reserved. Click to Download a Print Friendly Version
  • 2. We like to think of ourselves as “choice architects.” Choosing a financial advisor is just one of many choices we hope to help you evaluate. Here are 25 Questions you could ask to help you select a financial advisor that’s right for you. © 2013 GV Financial Advisors, Inc.
  • 3. Question 1: With my level of wealth, can you please explain why I should expose myself to the risks of the stock market? © 2013 GV Financial Advisors, Inc.
  • 4. Question 2: How does your process help me implement the most basic investment wisdom of “buying low and selling high”? © 2013 GV Financial Advisors, Inc.
  • 5. Question 3: With a portfolio of my size, I am concerned about my income tax liability. Can you share with me how you might reduce that liability? © 2013 GV Financial Advisors, Inc.
  • 6. Question 4: Can you please describe the process by which you create opportunities for me by communicating with my CPA, attorney or other professional advisors? © 2013 GV Financial Advisors, Inc.
  • 7. Question 5: I have heard that there are ways to “gain by giving it away” and that there also may be ways to “give away my taxes”? What experience do you have doing that for clients, especially for people in my circumstances? © 2013 GV Financial Advisors, Inc.
  • 8. Question 6: Can you share some of your best ideas and financial tools that you offer to your clients? © 2013 GV Financial Advisors, Inc.
  • 9. Question 7: Will you be the only person who would be working with me or would I have a team? © 2013 GV Financial Advisors, Inc.
  • 10. Question 8: Can you please give me a profile of both your “front stage” and “back room” people whom would affect my relationship with your firm beyond yourself? © 2013 GV Financial Advisors, Inc.
  • 11. Question 9: Great communicators generally instill the most confidence in their clients. Can you share some of the ways that you communicate with clients? © 2013 GV Financial Advisors, Inc.
  • 12. Question 10: What types of customized communications will I receive from you and how often? Will someone be available when I call? © 2013 GV Financial Advisors, Inc.
  • 13. Question 11: Can you share how you create, implement and tweak an estate plan to fit my family’s priorities? What experience do you have in helping reduce or eliminate estate taxes? © 2013 GV Financial Advisors, Inc.
  • 14. Question 12: An effective advisor assumes a leadership role in his client’s life beyond investments. Can you share with me the role you play in your clients’ lives? © 2013 GV Financial Advisors, Inc.
  • 15. Question 13: Everyone is naturally endowed with certain strengths. What is your unique genius? © 2013 GV Financial Advisors, Inc.
  • 16. Question 14: Can you help me evaluate private investment opportunities outside of publicly traded securities? © 2013 GV Financial Advisors, Inc.
  • 17. Question 15: Does your firm sell proprietary products? How do you handle a situation where a better investment opportunity might be available outside your firm? © 2013 GV Financial Advisors, Inc.
  • 18. Question 16: Can you share with me evidence of both your experience and expertise in your industry, perhaps examples of books or articles you have written, recognition from major media outlets or other achievements? © 2013 GV Financial Advisors, Inc.
  • 19. Question 17: Can you help me understand how your firm is structured and how you are my advocate? © 2013 GV Financial Advisors, Inc.
  • 20. Question 18: Please describe your firm’s relationship with and responsibilities towards its clients. Do you have a fiduciary duty toward clients, a suitability standard or both – and under what circumstances? © 2013 GV Financial Advisors, Inc.
  • 21. Question 19: Have you ever been disciplined by any government regulator for unethical or improper conduct or have you been sued by a client who was not happy with the work you did? © 2013 GV Financial Advisors, Inc.
  • 22. Question 20: How does your fee compare to that of your competitors? If you are at the lower end of the fee scale among your competitors, why? Same question if you are the higher end. © 2013 GV Financial Advisors, Inc.
  • 23. Question 21: How long have you been with your current firm? How does your current firm represent your best opportunity? © 2013 GV Financial Advisors, Inc.
  • 24. Question 22: If you were to move to another firm 24 months from now, would your investment recommendations remain the same? In other words, would your thinking change just because your new firm might have different ideas, incentives or business relationships? © 2013 GV Financial Advisors, Inc.
  • 25. Question 23: Is it important to you and your firm that you help your clients use all of their resources – their time, talents, network and opportunities – to create the life they desire and not just manage their money? © 2013 GV Financial Advisors, Inc.
  • 26. Question 24: Do you have tools to help me figure out what it is I really want to do with my wealth? © 2013 GV Financial Advisors, Inc.
  • 27. Question 25: What questions would you ask a prospective financial advisor that I have left out? For More information, Please Visit Website : GV Financial Advisors Email : info@gvfinancial.com For disclaimers and privacy policy, please visit http://gvfinancial.com © 2013 GV Financial Advisors, Inc. Click to Download a Print Friendly Version

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