Key takeaways
A fiduciary is required to act in your best interest. Confirm that the duty applies at all times, not only while giving advice.
How an advisor is paid shapes the advice you receive. Ask for total fees in writing before you commit.
Scope matters as much as performance. Check whether taxes, retirement, and estate planning are included.
Frequently asked questions
How much does a financial advisor cost?
Fees depend on the model. Fee-only advisors commonly charge a percentage of assets managed, a flat annual fee, or an hourly rate. Ask for the total cost in writing, including underlying fund expenses.
What does fiduciary mean?
A fiduciary is required to act in your best interest. Ask whether the advisor holds that duty at all times, and request the answer in writing.
How do I know an advisor is right for me?
Compare scope of service, communication style, and how the advisor is paid. Meeting two or three advisors usually makes the differences clear.
What a financial advisor actually does
A great advisor does more than pick investments. They help you clarify your goals, coordinate taxes, retirement, and estate planning, and keep you accountable through changing markets and life events.
Before committing, make sure you understand how the advisor is compensated and whether they act as a fiduciary at all times.
Key questions to ask in your first meeting
Are you a fiduciary at all times?
How are you compensated, and what are the total costs?
Who will I actually work with day to day?
