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You might feel uncertainty about what questions to ask and how to tell a “good” advisor from a bad one. To help you navigate these complexities, author Jesse Cramer includes key considerations when vetting a financial advisor, several of which include:

📌 Advisor Questions: An advisor should ask about your goals, timeline, risk tolerance, income, and personal circumstances rather than just answering your questions

📌 Fiduciary Status: Confirm the advisor is a fiduciary, meaning they are legally and ethically obligated to act in your best interests

📌 Compensation Structure: Understand how the advisor gets paid, whether through commissions, fees based on assets under management (AUM), retainers, or hourly rates

📌 Scope of Services: Does the advisor offer comprehensive services beyond investment advice? This can include financial planning, tax planning, retirement planning, and estate planning.

📌 Investment Philosophy: Learn about the advisor's approach to risk, asset allocation, and how actively they manage trades

📌 Value Proposition: Assess whether the advisor offers additional value (e.g., comprehensive financial planning, tax strategies, retirement coaching) beyond standard investment management

📌 Succession Plan: Ask about contingency plans for scenarios like retirement or unexpected absence

Key Takeaways: Before you entrust an advisor to protect and grow your lifelong savings, ensure you’ve paid your due diligence. And above all, always prioritize how your advisor makes you feel.