10 Questions To Ask Yourself When Choosing A Wealth Advisor

Categories: Insights |

Choosing an advisor to manage your wealth can sometimes feel like a game of “eeny, meeny, miny, moe.” One advisor can seem as good as the next one on paper and it’s difficult to tell what sets them apart when unfamiliar terms and certifications begin to appear by names. However, armed with the right knowledge and the right questions to ask, you’ll be able to choose the best wealth advisor to capture the opportunities that tomorrow has to offer.

You may ask yourself, do I really need a wealth advisor? You can certainly take a do-it-yourself approach when it comes to managing your money. You could also do the same when it comes to your health. In both areas, tackling it yourself is a brilliant idea for a select few and a flawed plan for many others. Managing personal wealth often requires many hours of research. For most, it’s not worth the time and ongoing effort. Even if you know the basics, it’s a comfort to know that you have a professional helping along the way. The right wealth advisor can give you advice about managing your overall wealth, help you with specific needs or goals and save you time in achieving those goals.


Here are 10 questions to ask yourself when choosing a wealth advisor:

  1. How much experience do they have?
  2. What are their qualifications and credentials?
  3. What services do they offer?
  4. What is their approach to financial planning?
  5. Will they be the only one working on my account?
  6. How will they be compensated?
  7. How much do they typically charge?
  8. Could anyone besides me benefit from their recommendations?
  9. Have they ever been disciplined for any unlawful or unethical actions in their professional career?
  10. Can I have it in writing?

Most importantly, sit down and talk with your potential choice for a wealth advisor before you start to do business. A face-to-face meeting in person or virtually can always tell you more about whether the advisor is right for you, more than any email or phone conversation will be able to do.

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