What Should You Look For In a Financial Advisor or Financial Planner?

* Ask if they have been subject to any disciplinary actions or have received any client complaints in the past.
* Ask for a copy of all compensation, fee and/or commission schedules.
* Ask for references, specifically from clients who have similar goals as yours.
* Inquire about the financial advisor’s experience, education, professional affiliations, credentials and general background.
* Make sure the financial advisor is properly licensed, bonded and insured in the states where they do business.
* Review the advisor’s methodology prior to committing your investment.
* Is the financial advisor using an institution to “clear” or execute trades?  If so, become familiar with that institution and double-check the fees associated with this activity.  There may be hefty ”commissions” involved.

NOTE: Some experts recommend contacting 2-3 financial advisory firms, so that one may compare/contrast each firm, thus making the best-qualified choice.

What Is Fiduciary Duty?  A fiduciary duty is a legal or ethical relationship of confidence or trust between two or more parties, most commonly a fiduciary or trustee and a principal or beneficiary (Wikipedia).

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