Best Questions to ask a Financial Advisor in 2023

Hope you enjoy the video and find a nugget or two of information to help you on your financial planning journey.
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Timestamps / Chapters:
0:00 - Intro
1:06 - What Questions Should I Ask?
1:50 - #1 How do you get paid?
4:32 - #2 Are you a Fiduciary?
6:08 - #3 What are my all-in costs?
8:03 - #4 What services do you provide?
9:52 - #5 What are your qualifications?
12:44 - #6 Why are you a Financial Advisor?
13:29 - #7 How will our relationship work?
14:40 - #8 How often will we communicate?
16:15 - #9 Why did your last two clients leave you?
17:36 - #10 - What happens when we stop working together?

ABOUT ME 👇

I've been involved in people's financial decisions for 15+ years (7 yrs Real Estate experience & 8+ yrs as a former Financial Advisor)...I now bring the financial successes, mistakes, failures, and best financial habits/tips to you through these videos.

My mission is to bring Financial Awareness to the forefront of your daily decisions so you can: improve your quality of life, increase your net worth, and grow upon your financial literacy. My videos are a reflection of my real-world experience as a real estate investor, stock market investor, student of finance, entrepreneur, and of course...my experience as a Former Financial Advisor.

This channel allows me to share my passion for personal finance, stock market investing, real estate investing, and entrepreneurship. I produce content that I would want to watch, and because of that, I give 100% effort in every video that I make. I also believe in complete transparency and open communication with my audience.

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[Riggsnic_co]

This is quite educational. It's crucial for newcomers to keep in mind that the financial markets are highly irrational in the short run. You should constantly be ready for the unexpected. That is how chance operates. Because of the inherent risks in the market, I always favor long-term investments.

[patb]

How about, "what have been your average year over year net returns been for the last 10 years?"

I wld think at the beginning of each year, i want to know:

1. What is the current balance?
2. What was my balance at the beginning of last year?
3. What has been the Gross ROI from last year?
4.What have been any distributions i have taken for the year?
5.What Fees have i paid to you for the year?
6. What are my net earnings for the previous year?

[Manila-wopi]

Great video! I recently declined my advisors because they didn't respect my request to not upsell their insurance, they also were filling in forms for me over Zoom pressuring me to sign, and when I refused sending it to my email with a time cap. Even if you know nothing, please go in with full confidence and YOU call the shots, this is your money that THEY need not the other way around. There's no time limit on learning, you do things when you are ready and if the vibes are off do not be afraid to make them just as uncomfortable as they make you with their pitches and say "You're not a fit". It will be awkward but hey, I'd rather have that awkward 5 minutes over years of dodging sales calls. You have wealth to build not other mouths to feed. My advisors said I wasted their time, and that response only told me they didn't value me and saw me as a sale, not a person, our time is of equal importance. Had they kept their greedy mouths shut they would have had me for life, some people tell on themselves when you let them ramble.

[JasonRostro]

Thanks this is Beneficial for someone in my 30’s trying to be financially smart with my money.

[FreeToBe]

Definitely think speaking to a qualified advisor is the most important thing here! Thanks for sharing!

[by_katrin]

Wow, I started as financial advisor this year in Switzerland and I try to answer all these questions before the client has to ask, but number 9 is genious. ❤

[MrMaxamillion]

I was with Edward Jones, they had me in 9 different funds. The average expense ratio was over 1% and they were all front-loaded fees. when asked what my investments were costing me, my advisor blow me off and continued to try and sell me her long-term care insurance.IMOP she was no fiduciary, just a salesperson trying to increase her bottom end.

[jessruhl]

As a new business owner and investor, this was so helpful! Thanks K

[mickeypow]

Awesome content. I am binging on your videos now that I found your content

[gissellepalmaa]

im going to have my first meeting with a cfp tomorrow and this video really helped! i would of never thought of asking any of these questions! I'm kind of nervous to be asking some of these but I really want to know if this guy will be able to help me, so I'm gonna try my best. thank you !

[gregb]

I really appreciate you taking the time making this video to put these wonderful and critical questions together for the viewers I really like them thank you very much.

[JohnLawrence-ew]

I almost NEVER make a comment on YT... I suppose you could call me a frequent "Silent Consumer" of YT. With that said, I am compelled to say this is EXCELLENT information and actual contains questions that I will use. Your content in this video far exceeded my expectations - especially compared to other ones I have recently watched.

[Tefanitkm]

Great video! I'm near to have the test to get certified as a finantial advisor and all this question clarify many topics for me

[themissmay]

Such a helpful video, thank you so much!!

[davekelly]

So, here I am.. 62 years of age with a reasonable personal pension pot. Every time I speak with advisors about planning for my imminent retirement I am left with more doubt than confidence. I think one of my main worries is that this is a one time decision and if I get it I am doomed. Also, once I have the time, I would like to be very involved in the type of investing moving forward. I just feel that the whole thing could go drastically wrong after 35 years of graft. Thoughts please. Dave.

[raypalermo]

Mr Ramsey said in one of his videos if you feel like your working with a salesman then run!!!.He said they should teach you and guide also, not just take your money and not tell you where its going and why.

[mariaelisagonzalez]

Great video! I am looking forward to be a financial advisor in the future so this is good information as a professional and as a customer

[Huschai]

Great questions. Thank you for posting!

[benshorthouse]

I am about to go into the final stages of my interview for the wealth management service, watching your videos were one of the reasons to push my down into that industry instead of FX Broking, thank you!

[brianfella]

This was excellent and very informative! Thank you!