What to Ask a Financial Planner


A financial planner will help you with your most important asset – your money. However, before you hire someone to help you manage your finances, there are a few questions you should ask them to see how they work. what services they provide and what they charge for their services.

These questions will give you a better idea of ​​whether they are a good fit for you. It may feel a little awkward, but it’s important to do a thorough review of everyone you trust with your money.

What can a financial planner help with?

First of all, you should know what a financial planner can help you with. A financial planner offers advice and actionable steps to help clients achieve their financial goals, whether those goals are large or small. Every situation looks different depending on the customer and personal or business needs. Contrary to popular belief, financial planners can help anyone, regardless of their income level or number of investments. An excellent financial planner simply wants to help you grow your money.

Some common areas that financial planners can help are:

  • Reduce debt

  • budgeting

  • Saving an emergency fund

  • Save for specific destinations

  • Tax optimization (minimization)

  • Investment advice

  • Estate planning

  • Prepare a complete financial plan

  • Insurance advice

Before consulting financial planners, decide what type of financial advice you want. Are you struggling with debt? Or are you hoping to save up for a home? Are you looking for investment advice? There is no wrong reason to seek out a financial planner. Knowing ahead of time what you want your money to achieve will make it easier for you to find out which type of financial planner will best suit your needs.

For example, if you’re not looking for investment advice, but want to create a complete financial plan, look for a certified financial planner.

Make sure you are honest with every counselor you speak to. Let him know your full plans and help. If you are completely lost, tell them. You will immediately know if he or she can help you. If they seem overwhelmed with what you bring to the table, they are not the right advisor for you.

Since advisors work with your money and ultimately help you build your net worth, you want someone you can trust and have a long-term relationship with. Take your time looking for financial advisors as ideally you will only want to search for a financial advisor once in your life.

How do you interview a financial planner?

Interviewing a financial planner is similar to interviewing a person for a job. After all, they care about your money. Whether you have a large fortune or are overwhelmed with credit cards and other personal debts and need a way out, you should make sure that you are working with the right person.

Before you meet or speak to a counselor, prepare yourself. Write down your list of questions in advance so you don’t forget anything important. As you write down the questions, make sure you ask everything you think, as talking to counselors may get you distracted or even overwhelmed. You shouldn’t worry about asking too many questions or harassing counselors. You are used to being interviewed by potential customers. That way, they get the “job” to work with their customers.

It’s also a good idea to bring a pen and paper so you can write down the answers to the questions to make sure the counselor meets your needs.

There is no wrong way to interview a financial planner and no checklist of things to make sure you found the perfect person. However, here are some signs to watch out for:

  • A good relationship between the two of you; You should be comfortable with the person who is handling your money

  • Affordable fees, whether the advisor is paying or charging a percentage of your net worth

  • A method of communication using a medium, such as email or phone calls, that you are familiar with

  • Methods and principles that are consistent with your beliefs

  • A plan that you believe is achievable and that you feel good about

The bottom line is that you want to work with a consultant who understands your perspective, has similar ideas, and will help you achieve your financial goals. If you are uncomfortable with him or her or you are reluctant to share your thoughts or goals, this may not be the counselor for you.

When you are working with a financial advisor, whether it is for necessity, because you cannot get out of debt, or because you want someone to guide your financial decisions, you want someone you can trust.

What should you ask a financial planner?

Each person has their own questions that should be answered. However, here are some frequently asked questions to get you started. You will likely want to tweak it when you speak to a financial planner, depending on your personal circumstances and goals.

  1. How many years have you been a financial planner?

  2. What kind of clients do you usually work with?

  3. Are you a trustee with every client?

  4. Do you give investment advice?

  5. What qualifications do you have?

  6. What services do you offer?

  7. How and how often will we communicate?

  8. What are your fees and what is included? What can lead to additional fees?

  9. What certifications and training do you have?

  10. What kind of experience do you have with clients with similar goals as me?

What is the difference between a financial planner and a financial advisor?

In general, there isn’t much of a difference between a financial planner and a financial advisor. Both professions offer financial advice and help you organize and manage your finances.

However, a financial advisor is better equipped to offer you investment advice. For investment advice, you should only partner with a registered investment advisor who has passed the 65 series exam or is working under an exam.

If you are NOT looking for investment advice, it doesn’t matter whether you work with a financial planner or financial advisor, as long as you can find someone to work with. These interview tips will help you find someone to trust with your money.


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