Questions You Should Ask Your Financial Advisor

Do I really need a financial plan?

Many clients ask me if they are too old or too broke to make a prudent investment plan. Since I coach my clients to do what is best by using a holistic approach my answer is that it is never too late to create a retirement strategy. Advisors have a tendency to over complicate what needs to be done and how it works in order to impress their clients, making them think that the advisor is really smart. I believe the client should understand what they are investing in and believe it will work to fit their needs.

Are you going to tell me what I need or help me select what I want?

No one can plan a better retirement than the client themselves with the help of a properly trained and properly positioned coach. The definition of coach itself is helping an individual by guiding them through a process. The process of learning how to make your money work for you can make the experience much more rewarding and less stressful. In the world of financial coaches I believe that should go one step further and they should also be an advocate for their clients wealth. The definition of advocate is some one who acts or intercedes on behalf of another. Someone giving support.


Are you a fiduciary or a broker?


In the spirit of giving support my firm practices as an Investment Advisor Representative; someone who has a fiduciary responsibility for the client, putting the client first in all matters. A broker sells products to his/her client and has to adhere to a suitability standard of doing business and not fiduciary unless they are licensed as such.

For those who want a different approach to their investing options I use a co-advisor. They have much more knowledge on investing and have been doing it a lot longer than me. For a quick explanation on how they differ from your ordinary third party money manager you can go to my personalized website by clicking here.

What are the fee's of the product I am buying?

In the world of investing there are many hidden fees below the surface of a mutual fund or stock market like investment. Ask for a prospectus for a mutual fund if you are contemplating buying into one. Check the fee schedule and the amount of trading activity, there are fees associated with each.

How often do you communicate with your clients?

Communication is also a key to great coaching and I communicate with all clients on a daily basis through email. The investor needs support especially when we are going through the ups and downs of the market we've experienced recently.