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Questions You Should Ask a Financial Advisor Before Hiring Them

Posted by Nicole Gomes on May 16, 2022 3:35:56 PM


Even those well-versed in personal finance know that there’s still so much to learn. From budgeting and saving to investing and retirement planning, it can feel like a constant struggle to stay on top of your finances. If you’re looking for the best way to learn how to invest, save, and pay off debt, then a financial advisor is where you need to start. That’s why we’re sharing these five crucial questions you should ask a financial advisor before hiring them.

Top 5 Questions to Ask a Financial Advisor

1. Why Should I Hire You?

Prior to meeting with any financial advisors, you need to make sure you’re hiring the right person. You want someone to help you build a plan that works for your specific situation.

This means finding an advisor who can help you identify your strengths and weaknesses as a person and an investor, as well as your financial goals. You also want to make sure the advisor you choose is someone you’re comfortable working with.


2. How Long Have You Been in Business?

When you’re looking for a financial advisor, you’ll need to focus on certain criteria, such as how long the advisor has been in business? The longer they’ve been in business, the more experience they have.

3. Do You Have References?

When looking for a financial advisor, you want to make sure they’re the right fit for you as a person and as an investor. This requires you to spend some time getting to know the person you’re hiring, as well as their company. One of the best ways to do this is to ask for references.

You can ask your prospective advisors for names of people they’ve worked within the past, as well as any information you can get about their experience with those individuals.

4. How Much Do You Charge?

You’ll also want to make sure the financial advisor you choose is a good fit for your budget. This is where charging an appropriate fee comes into play so that you’re not getting taken advantage of.


5. What Type of Clients Do You Work With?

Another important factor to consider when hiring a financial advisor is the types of clients they work with.

Some of the most common ways to classify investments are according to risk level. This refers to the likelihood that an investment will lose money. There are high-risk investments with a very high chance of losing money and low-risk investments with a small chance of losing money.

These Questions Will Help You Build a Better Relationship with Your Advisor

You want to make sure you’re hiring someone who is specifically suited for your situation. This will ensure that your plan is a good fit for your needs as an investor. Finding the perfect advisor doesn’t have to be difficult, contact the financial experts at Satty, Levine & Ciacco, CPAs. P.C. to get started today!

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Topics: Financial planning

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