DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing Choosing an Advisor
Jun 11, 2025
Discover the essential questions to ask when hiring a financial advisor. Learn about the importance of fiduciary duty and fee structures that prioritize your interests. Explore the pitfalls of incentivization practices that can compromise client welfare. Uncover key factors for selecting the right advisor, including qualifications and the significance of building a trusting relationship. Finally, navigate the selection process with confidence by understanding the role of effective communication and teamwork in financial planning.
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Prefer Fiduciary Fee-Only Advisors
- Choose a financial advisor who is a fiduciary and fee-only to avoid conflicts of interest.
- Fee-only advisors charge for managing money only, not commissions or selling products.
Clients Ignoring Paid Advice
- Quint shared a story where clients paid for a plan but never followed advice, frustrating him greatly.
- This experience led him to reject a pay-for-planning-only model and focus on fee-based asset management.
Check Advisor Credentials and Team
- Verify how many CFPs and CPAs are on the advisor's staff to ensure professional expertise.
- Tax and investment knowledge combined is critical for quality financial planning.