Midpack
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
A decent site occasionally (link below), but I'm NOT recommending this article. I was just trying to imagine any FA that would sit still for all this, even if you had 7 figures to invest. Not to mention how few potential clients would know how to interpret good answers.
You do see novice investing looking for what questions to ask, I would not recommend this list...
You do see novice investing looking for what questions to ask, I would not recommend this list...
Questions To Ask And Think About Before Hiring A Financial Advisor | Financial SamuraiQUESTIONS TO ASK YOUR FINANCIAL ADVISOR BEFORE HIRING
Basic Background Questions
* How long have you been a financial advisor?
* What are your credentials? (undergrad, graduate school, certifications, online presence)
* Do you believe credentials matter if one has proven they can properly manage their finances over time?
* How long have you been in your current job?
* What were you doing before your current job and how long were you there?
* How are you incentivized?
* Give me an example of where you helped turn around a client’s financial situation for the better.
Investment Philosophy And Financial Acumen Questions
* What is your fundamental belief on asset allocation? How often? Why should we do it? What signals do you use?
* How would you go about building the right investment portfolio for someone 5 years, 10 years, 15 years, 20 years, and 30 years from retirement?
* If history has shown time and time again that the majority of active fund managers underperform their benchmarks, why do actively managed mutual funds still exist?
* What is your current outlook for the housing market and why?
* Where do you see the 10-year risk free rate going over the next several years and why?
* What do you think is the proper withdrawal rate during retirement?
* Do you think annuities a good idea for someone my age with my income stream and assets?
* Why do so many people bash whole life insurance policies?
* What is the S&P 500 currently trading at in terms of forward P/E and why do you believe the earnings estimates are achievable?
* Where do you see the S&P 500 or Dow Jones over the next 12 months, 24 months, and 36 months and why?
* If there’s a mile-long track and you completed the first lap at 30 mph, how fast do you have to go on the second lap to average 60 mph?
Character Discovery Questions
* Please explain why you are different from other financial advisors?
* What is an area of weakness you need to work on, and how do you plan to get there?
* What was your biggest financial mistake and how did you recover?
* Why do you think people spend more than they earn?
* If you were not a financial advisor, what would you be?
* What is the best means of communication? (to end on a soft note)
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