When it comes to enlisting the services of a financial advisor, the process is a bit like dating. Just like you want to find a partner who shares your goals, communicates clearly and inspires trust, you want to find a financial pro who exhibits those qualities.
U.S. News asked financial planners which questions they wish their clients would ask them. Their responses are below.
“How do you get paid?” This question is absolutely essential for clients who are visiting a financial advisor for the first time. “It’s an important question because you want to know if you are paying hidden fees or commissions. For instance, a fee-based advisor will charge fees plus commission, whereas a fee-only advisor is paid only by the client,” says Stephanie Genkin, certified financial planner and founder of My Financial Planner LLC in Brooklyn.