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Jana Kleitsch
over 1 year ago • Seattle

Questions to ask when interviewing a financial advisor

I'm in the market for a new financial advisor. What would be good questions to ask when interviewing a potential advisor?
11 replies
about 1 year ago
What sort of financial advisor are you looking for? I know a bit about the topic but it depends on your needs. Are you looking to clear up debt? Invest? Retirement planning? Make sure you don't accidentally hire someone who gets commission. Those "advisors" get paid to push products that you may not want.
  • over 1 year ago
Hi Adam, I'm looking for investments and retirement planning advice. I am looking to avoid hiring someone to take a commission, but it seems like those people don't really exist...
  • over 1 year ago
There are many types of firms that will help with financial planning, with a variety levels of experience, hands on, and fees. The general rule for the fees is they will be a percentage of your "holdings under management", and that percentage gets smaller the more money you have with them. Here's one that is unusually transparent with their fee structure: (I haven't used Valeo, but a friend recommends them)
  • over 1 year ago
Thanks Patrick, this indeed is refreshing. If someone were to make a lot of money on my behalf I would want them to get paid for their work, I just don't like the conflicting incentives for the advice.
  • over 1 year ago
My brother is a financial planner; he’d be happy to talk with you (and has done an excellent job for us). Mike Meggyesy at DA Davidson:
Financial Advisor - Downtown
  • over 1 year ago
Thank you Melinda!
  • over 1 year ago
Do they have view into *all* of the different kinds of assets - not just stocks/equities? Alternative assets?
  • over 1 year ago
That is an interesting question. Thanks Arry. By alternative assets I am guessing you mean crypto, real estate, gold and private equity deals?
  • over 1 year ago
FYI, I found this helpful podcast episode from NPR's life kit.
(in case anyone else is waffling about this too.)
  • over 1 year ago
I heard that podcast too. I'm definitely a fan of the Vanguard Retirement funds, which try to target the right level of risk depending on your age. So simple and the fees are tiny. Of course, a fund won't really help you clean up debt or structure the rest of your financial needs...
  • over 1 year ago
I am always available to talk if you want to get a perspective on what is out there - vast array of people who call themselves financial advisers with different value prop (from insurance to planning to asset management, etc) with different fee structures.
Financial Advisor
  • over 1 year ago

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