Financial Planner Checklist

Before You Meet With a Financial Planner

Write down your financial goals.

Think what specific things you wish to save for.

Determine how much progress you have made toward obtaining each of your goals to date.

Check how much you have saved

Decide how soon you wish to accomplish these goals.

Break each goal into short-term, medium-term (1 - 3 years) or long-term (5+ years).

Interview Guidelines

Ask about the services he provides.

Ask what licenses and/or qualifications he holds.

Ask about types of investments he is licensed to offer.

Check how he would prepare your financial plan.

Check what continued services you will receive after the initial plan.

Ask what his typical clients are like, and how have their portfolios performed.

Ask how many clients he has.

Find out about the advisor's fees.

Check how your compensation is calculated.

Ask if he provides an initial meeting at no cost.

Ask for a written estimate of what the fees will be.

Tips

Ask questions that will allow you to judge the professional's ability to manage your finances appropriately.

Make sure to interview each advisor thoroughly so that you feel confident in your decision.

Have the advisor answer as much information as possible.

Write down the responses so that you are able to compare several advisors objectively.

Look for a financial advisor who provides ongoing services to advise and assist in your plan's implementation as well as future plan revisions.

Make sure to select advisors based upon their qualifications rather than their personalities.

Find advisor with a strong track record of providing the services you need at a reasonable cost.

Check the references.