5 Questions You Must Ask Your Financial Advisor Before Making Any Major Decisions

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Your financial advisor should be able to answer all of these questions, or at least point you in the right direction to find an answer. If you feel like your advisor doesn’t want to answer these questions or they’re vague and misleading with their answers, it might be time to find another one. Here are the five questions you should ask your financial advisor before making any major decisions regarding your finances

What experience do you have?


You want to make sure that your financial advisor has experience in the industry, and more importantly, with the type of investment you’re looking to make. Find out how long they’ve been working in the field and what their success rate is.

How long have you been in practice?


It’s important to ask your financial advisor how long they’ve been in practice. This will give you some insight into their experience level and comfort with handling your finances. If they’re a newer advisor, they may be more hesitant to take risks.

If they’ve been in practice for a long time, they may be more set in their ways and less willing to try new things. Either way, it’s important to know where your advisor stands before making any major decisions.

What’s your specialty?


A financial advisor’s job is to help you grow and protect your wealth. But with so many different specialties out there, how do you know which one is right for you? Here are five questions to ask your financial advisor before making any major decisions

Are you affiliated with any banks or financial institutions?


It’s important to know if your financial advisor is affiliated with any banks or financial institutions because they may have a vested interest in steering you in a certain direction. While there’s nothing wrong with this, it’s important to be aware of so that you can make the best decision for yourself. Here are 3 questions to ask:

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  1. What are your qualifications?
  2. What is your experience?
  3. What do you recommend I do with my money?

How can I contact references?


Before making any decisions, it’s important that you speak with a financial advisor to get professional guidance. Here are five questions you should ask your financial advisor before making any major decisions:

  1. What experience do you have with investments?
  2. What is your investment philosophy?
  3. What are the fees associated with your services?
  4. How do you get paid?
  5. Do you have any conflicts of interest?