Looking for a financial advisor can be tricky. You and your financial advisor will hold a significant professional relationship, and no two financial advisors are the same. When looking for an advisor that you feel you will work with comfortably, it is common to be thinking about the appropriate questions that you should be asking when you meet with them for the first time. But, did you know that you should be listening carefully to the questions that they ask you? The questions that your potential financial advisor asks you can be great signs as to the attention and quality of advice they will be able to provide. Here are five questions that you should hear your financial advisor ask you.
What are your financial concerns?
This is an important opening question to hear from your financial advisor. Many times, you are going to a financial advisor because you have a specific financial situation that either you need to prepare for or that you are experiencing, so hearing these questions is excellent. This is your chance to let your advisor know precisely why you are seeking one out in the first place and helps you feel reassured that their focus is on you and your goals.
What would make this relationship successful for you?
This is a wonderful question to hear from your financial advisor. It means that they care about you and your expectations coming into the relationship. This question gives you an opportunity to tell your financial advisor what you value and how they can help you embody your goals and work towards achieving them. You can outline any fears that you have and both of you have the opportunity to set expectations for the other.
What are you looking to accomplish?
This question is related to the first one but with a little bit more of a future focus. This allows you the opportunity to talk even more in-depth about your goals and aspirations as you begin your financial planning journey. Answering this question gives you another chance to define your expectations.
Why did you choose to come to a financial advisor?
This question will give your financial advisor insight into your overarching goals and situations. As mentioned earlier, many people go to a financial advisor because they have a particular situation to work through. But maybe your reasoning is broader and this is the time to give the advisor all of the background information into your decision for seeking them out.
Have you worked with a financial advisor before?
Your answer to this question will help your current advisor gauge the amount of knowledge that you have about the financial advisement process. That information gives them the opportunity to either reset any expectations on the process that you have, affirm the current ones, or set brand new ones, especially if you are new to the process.
Important Questions You Should Hear From a Financial Advisor
