Welcome to the Successful Financial Strategies blog! Lately on our blog, we have been discussing those questions that are important for you to ask your financial advisor before you start working with them. Not all financial firms are created equal and neither are financial advisors. Before you commit to work with any particular organization or person and allow them access to your assets, make sure that they are the right fit for your goals. In our last blog, we talked about five of the ten questions that you should ask a financial advisor before you work with them.

  • Are you a fiduciary?
  • How do you get paid?
  • What are my all-in costs?
  • What services are included?

Read 10 Things to Ask Your Financial Advisor (part one), and if you have questions about what is is like to work with Successful Financial Strategies, visit our website and contact us! We provide financial planning and other services to the Arden area. We pride ourselves in not only offering client-focused services, but also educating our clients about those pertinent financial terms, ideas, and the weight of current events. Visit our website to learn more.    

Questions to Ask A Financial Advisor – Part 2

How will our relationship work?

It is important to know how much of a role a financial advisor will play in protecting, growing, and investing your assets, as well as how much access you will have to them. Will you be able to reach your advisor by phone, email, and scheduled appointments? Also, ask how often you will meet to discuss your current financial planning strategy.

What’s your investment philosophy?

To have full confidence in your financial advisor, you need to understand their investment philosophy. Only if you believe in what they are doing will you retain their services, have peace of mind about your financial future, and make progress towards your goals.

What asset allocation will you use?

When someone is talking about asset allocation, they are speaking to the diversification of your portfolio. To create a healthy portfolio, you need to have various types of stocks instead of ones just invested in large domestic companies.

Who’s is your custodian?

In most cases, your financial advisor should have an independent custodian to hold your investments. Making sure that they have a custodian can be a great way to make sure you are hiring someone who is trustworthy.  

What investment benchmarks do you use?

When you are speaking with a financial advisor, it’s important that you ask about their benchmarks relating to what they are investment strategies. Before you partner with an advisor, understand their investment method.

What tax hit do I face if I invest with you?

Your investments and returns on investment will be affected by taxes, so it’s important that your financial planner is taking that into consideration as they create a strategy for you. By discussing taxes and fees, you can find out more about your expected net return on investment.

To learn more about your options in Arden, visit the Successful Financial Strategies website.