Ask Your Financial Planner [Part II]

Here are the other questions that should be asked to your financial planner in the first interview:

3- Give me some information about two or three of your clients?

If he gives you the information you want, you won’t be sure of his honesty to you later. And if he is smart enough, he will tell you some fair information such as a problem faced him and how he solved it.

Make sure that you trust your financial planner as he/she will keep your secrets for along time.

4- What’s your experience?

A planner may have decade’s worth of experience dealing with tax-saving trusts, for example. If your needs match his experience, then choose him immediately. But what if you want a financial planner helping you to set up a retirement plan for you?

Experience isn’t good along the way, it may differ from what you want or need. It doesn’t matter if he has a high or a low experience if his goals don’t meet yours.

So your choice should be a person who helps you to achieve your financial goals.

5- What planning services do you provide?

There is a big difference between tax planning and tax preparation, insurance planning and retirement planning, etc. You should know what service your financial planner will exactly provide you.

Add, you should know whether your financial planner will solve your current financial problem or will manage your money all times. Will he review your insurance needs and your retirement needs?!

6- Will I follow all your recommendations?

The only answer you should accept is: “It’s up to you!”

This answer shows more self-confidence and a strong character. A financial planner must have skills to convince you that his opinions and recommendations are the best choice for you.

So there is no need to those kinds of people who haven’t strong decisions and opinions.

7- Do you want to ask me any questions?

You should give him a chance to talk, ask, and get some fair information too, not all of it. A good financial planner should ask you about your financial problems, goals, risk tolerance, etc.

Don’t let your financial information available for all people.

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