10 Questions You Should Ask a Financial Advisor

Choosing a financial advisor is a major decision. You are trusting someone with your goals, your money, and your long term financial well being. Whether you are just starting your search or evaluating your current advisor, asking the right questions can help you understand how they work, how they get paid, and whether their approach aligns with what you value. These ten questions address the most common concerns people bring up and are also widely searched online, making this a helpful resource for anyone beginning the process.

1. Are you a fiduciary at all times?

A fiduciary is required to put the client’s best interest first. Some advisors act as fiduciaries all the time, while others switch between fiduciary and suitability roles depending on the product or service they are offering. Ask for a clear explanation of when they are acting as a fiduciary and how that impacts the advice they give.

2. How do you get paid?

Advisors can be fee only, commission based, or a combination of both. Common structures include a percentage of assets under management, hourly planning fees, flat fees, and commissions on certain financial products. There is no single correct model, but you should understand exactly how your advisor is compensated and how that aligns with the type of relationship you want.

3. What services are included in your financial planning?

A complete financial plan usually covers cash flow, debt management, investments, taxes, insurance, retirement income planning, and estate considerations. Some advisors focus primarily on managing investments and offer financial planning as an add on that is not deeply integrated into the relationship.

Others build the entire engagement around planning and use investments as one part of a broader process. Clarify what is included, what costs extra, and whether the plan is ongoing or a single project so you know exactly what you are signing up for.

4. What is your investment philosophy?

A strong investment approach should be disciplined, repeatable, and easy to explain. Your advisor should be able to walk you through how portfolios are built, how risk is managed, and how decisions are made over time. This is your opportunity to understand whether the strategy fits your comfort level and your goals.

5. How will you help me with taxes?

Many financial decisions have tax implications. Ask how the advisor integrates tax planning into the relationship. This may include tax efficient investing, Roth strategies, retirement distribution planning, loss harvesting, or coordinating with your CPA. You want to know whether they are thinking ahead or simply reacting at the end of the year.

6. What does your ongoing service model look like?

Some advisors meet quarterly, some semi annually, and some annually. Others reach out only when something changes. Find out how often you will meet, what reviews include, whether proactive outreach is part of the relationship, and how the advisor monitors your financial picture over time.

7. Who will I actually be working with?

In some firms, the advisor you meet at the beginning is the person you work with long term. In others, most of the ongoing service is handled by a team. Neither structure is inherently better, but you should know who will answer your questions, who monitors your accounts, and who steps in if your main advisor is unavailable.v

8. What does your planning process look like from start to finish?

Ask for a step by step overview of what happens after you decide to work together. A clear process builds trust and helps you manage expectations. This may include an onboarding meeting, data gathering, analysis, recommendations, implementation, and regular check ins.c

9. How do you measure progress or success?

Success is not just about performance. A strong advisory relationship should track progress toward goals, tax efficiency, spending sustainability, and overall financial organization. Your advisor should be able to describe how they evaluate your plan and how adjustments are made along the way.

10. What makes your approach different?

Every advisor has a unique background, planning style, and service approach. Listen for specifics. Do they specialize in your profession or retirement system? Do they focus on education, organization, or coaching? The goal is not to find the perfect advisor but the one whose approach matches your needs and communication preferences.

These questions can help you build clarity around how an advisor works and whether their process fits what you value. If you want to see how our firm approaches these same questions, you are welcome to schedule a conversation at your pace.