What are the best questions to ask a financial planner during the first meeting?
“You should expect your first meeting with a financial planner to be a balance of give and take of information,” said FPA member Kelly Lent-Paul, CFP®.
Lent-Paul suggested you ask the following questions:
- How are you compensated?
- Do you have a minimum investment requirement?
- How often should I expect to hear from you and/or meet with you if I become a client?
- Do you have model portfolios and who does the research and due diligence on the investments you recommend?
“In return you should be prepared to provide enough information about your income, investable assets, age, timeframe, and expectations to help the planner decide if you are a good fit for their practice,” she said.