What to ask your Financial Advisor at your first meeting

December 10, 2021
Investor's Guide

What to ask your Financial Advisor at your first meeting

what to ask your financial advisor at your first meeting

As we grow older, we want to make sure our loved ones are taken care of even after we’re gone. Whether that’s your parents, your spouse, your children, or any other beneficiary. 


Insurance is a good investment to maximize your savings while also protecting your loved ones from the unexpected. But investing in insurance requires diligence and research.


Before you commit to anyone, here are some questions to ask your Financial Advisor during your first meeting.


1. What are your qualifications?


You’ve worked hard for your money, so you want to make sure you’re entrusting it to the right person. Someone who can help you reach your financial goals and add on to your savings. When meeting your Financial Advisor, ask them about the current qualifications they have and if they’re pursuing any continuing education in order to improve their skills.


2. Can you help me set my goals and reach them?


Unless you’re in the financial world, it may be difficult to figure out what your goals are or if they’re properly aligned with your needs. It could be saving enough for your child’s future tuition, building a retirement fund, or starting the capital for a potential business endeavor. A Financial Advisor should be able to help you set your goals and more importantly, have the experience and knowledge needed to achieve these.


3. How will we measure progress?


Once you and your Financial Advisor have set your financial goals, you need to know what markers to look for in order to gauge if you’re on the right track. Success isn’t always defined by the money in your bank account. For some, it could be being able to buy a new home, retiring early, or simply increasing their assets. Ask for any references or testimonials to see if your Financial Advisor has hit their previous clients’ goals.


4. Have you worked with anybody who has a similar situation as mine?


Every client will have a different financial situation and different goals. Ask your Financial Advisor if they’ve worked with someone similar to yours and what steps they took to reach their client’s goals. Also, ask if they encountered any issues along the way and what solutions they adapted to resolve these issues. This gives you a good idea of which strategies they will apply to yours.


5. How often do you communicate with your clients?


It is understandable for you to have questions about your insurance, so you’ll need to know if you can easily reach your Financial Advisor whenever you do. Ask them about their work hours (i.e., when they’re available to respond to queries) and their preferred channel of communication.


Your Financial Advisor will be your partner in your investment journey. You’ll want to make sure you pick the right one, so you reach your financial goals. Asking your Financial Advisor these questions will help you discern if you’re with the right one.

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