The theme this week on the Retirement Quick Tips Podcast is: When Should I Hire A Financial Advisor?

If you’ve been listening to the podcast this week, maybe you’ve made the decision that it’s time to look into hiring a professional to help you with financial and retirement decisions, and for a variety of reasons, you’d like someone else to manage your investments as well. 

Or maybe you already have a financial advisor, but you haven’t heard from him or her in 2 years, they never call you back or respond to your emails, or you can’t shake the nagging feeling that your advisor is more concerned with their commission or fee than they are about making sure your portfolio is growing. 

But sometimes, when hiring an advisor, you don’t really know where to start. Many people find their advisor through word of mouth from a trusted friend or family member, or their personal network, or through a recommendation from their CPA or another trusted advisor. 

When you find an advisor that seems to be worth talking to, where do you go from there? I recommend that you come prepared to that first meeting with several questions to ask that will help you determine if the person sitting across the table from you is one you should hire. 

1. Do you adhere to a fiduciary duty in all circumstances for all clients, and is that in writing? 
   1. Non-negotiable
   2. Unfortunately it’s also rare that the advisor your meeting with is a fiduciary in the fullest sense of the word - maybe 10-20% are fiduciaries 
2. What can I expect in terms of ongoing communication & frequency?
3. How often will we meet and update our financial plan? 
4. What is your investment philosophy?
5. Will you contact me before making changes to my investments? 

That’s it for today. Thanks for listening! My name is Ashley Micciche and this is the Retirement Quick Tips podcast.  

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Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance