1. What services do you offer and what are your areas of specialization i.e. do you specialize in retirement planning, investment planning, tax planning estate planning, insurance planning or any others?
2. How many years of experience do you have in offering financial planning advice? Presently, how many clients do you have?
3. Describe your work history in the past five years. What financial planning credentials do you hold?
4. What are your educational qualifications and what subject have you specialized in? How can I be sure that your lack of experience in the fluctuating market can be compensated with your educational degree?
5. Have you ever managed or owned a business?
6. Can you explain financial jargons in simple terms that I can understand? Can you also explain your investment approach and philosophy in simple terms?
7. Do you have a license or are you registered with an investment firm? If so where?
8. Where is your own money invested? Explain the reason why you chose those kinds of investments.
9. What do you charge for your services? Do you work on a fee-only basis or a brokerage commission basis? Why?
10. How often do you meet your clients? Can you meet me once in three months? How receptive will you be to my queries that may arise at any time?
11. From what sources do you get new investment ideas? How do you keep abreast of the market trends and swings? Do you have a team of experts to seek advice from?
12. How often do you re-evaluate your client's financial portfolio? Will it be possible for you to provide me a quarterly assessment and advice regarding my financial portfolio?
13. Based on my needs and limitations, how do you plan to invest my money? Why do choose those investment options?
14. Have you ever filed for bankruptcy? Do you have any disciplinary action or complaints registered against you?
Always check your financial manager's track record and client satisfaction level. Never go merely by his/her words. Remember that selecting your financial manager is much like selecting your doctor. If you want the ‘sound health' of your finances, select the right manager. Never be afraid to ask questions and clear any doubt you might have, as finally its all about your money and your future.
