Trust · 6 min read

12 Questions to Ask Any Advisor

Print this. Ask every question. A good professional will welcome all twelve.

The point of these questions is not to catch anyone out. A capable professional will answer all of them plainly, in writing, without discomfort.

Compensation and licensing

How exactly are you paid, in dollars, on what I would own? What licenses do you hold, in which states, and what are you permitted to recommend? Where can I look up your public disclosure record?

Process

What alternatives did you consider and reject for my situation, and why? What is your written process for determining that something is in my best interest? What is reviewed each year, and by whom?

Stress tests

What happens to my plan if markets drop thirty percent next year? What happens if I need extended care at 80? Who takes care of my spouse if something happens to you or your firm?

How to use the answers

Take notes. Compare answers between professionals. Clarity, willingness to put things in writing and a documented process matter more than confidence.

Key takeaways

• How exactly are you paid, in dollars, on what I'd own?
• What licenses do you hold and in which states?
• Can I see your public disclosure record?
• What alternatives did you consider and reject for me?
• What happens to my plan if markets drop 30% next year?
• Who takes care of my spouse if something happens to you?

See how your own picture fits together

The Retire Atlas assessment builds a preliminary snapshot of how income, taxes, healthcare and protection work together in your situation. It takes a few minutes and asks for ranges, never account numbers.

Start my Atlas assessment

Educational information only. This article is general education and is not investment, insurance, tax or legal advice, and it is not a recommendation about any specific product, account or person. Retire Atlas is not a fiduciary, registered investment adviser, insurance carrier or government agency. Rules, thresholds and product features change and vary by state and by individual circumstances. Confirm anything here with a qualified professional before acting. No outcome is guaranteed.