Hiring a financial advisor can be intimidating. To make matters worse, it can be very difficult to differentiate between them. They all have "Financial Advisor" or "Financial Planner" or "Wealth Manager" etc. etc. etc. on their business cards? Does that mean they are all the same and do the same thing?
The answer to that question is a resounding no. But how can you tell? How can you make sure you are hiring the right financial advisor for you? In this podcast episode, Derek will walk through 10 questions you can use to better understand the differences and nuances between financial professionals. These questions will make it much easier to compare and contrast different financial advisors for the benefit of the consumer!
The 10 questions are:
1.) How Do You Get Paid? 2.) Are You Held To A Fiduciary Standard Of Care At All Times? 3.) What Are Your Qualifications? 4.) Beyond Investment Management, What Other Value Can You Provide To Me? 5.) Who Do You Specialize In Working With? 6.) Do You Have The Ability To Provide Proactive Tax Planning Advice? 7.) How Much Do You Typically Charge? 8.) Do Other's Stand To Gain From Our Work Together? 9.) Have You Ever Been Disciplined For Any Unlawful or Unethical Actions In Your Career? 10.) Is There Another Firm Out There That Is Better Suited To Working With Pharmacists And Their Families?