Key Questions to Ask in Hiring Financial Planner/Advisor
Are you always a fiduciary, and will you state that in writing?
How are you compensated?
Do you receive commissions based on certain products or services you recommend?
Will you itemize all your fees and expenses in writing?
Do you earn fees for referring clients to specialists like estate attorneys or insurance agents?
Do you earn fees as an advisor to a private fund or other investments that you may recommend to clients?
Do you focus solely on investment management, or do you also advise on taxes, estates and retirement, budgeting and debt management, and insurance?
What is your investment philosophy?
Do you believe you can beat the market?
How often do you trade?
After inflation, taxes and fees, what is a reasonable estimated return on my portfolio over the long term?