Define your goals (retirement, investing, tax planning, debt, insurance, estate planning)
Clarify your needs and complexity (one-time plan vs ongoing management; taxable vs retirement accounts)
Set a budget for advice (hourly, flat fee, retainer, or percentage-based)
Check the advisor’s credentials (CFP, CFA, ChFC, CPA; verify with issuing organizations)
Confirm fiduciary status and suitability obligations (look for “fiduciary” and written commitment)
Understand compensation and conflicts of interest (fee-only, fee-based, commission-based; review all revenue sources)
Verify licensing and disciplinary history (FINRA BrokerCheck, SEC Investment Adviser Public Disclosure, state regulators)
Evaluate investment approach and alignment with your preferences (risk tolerance, diversification, time horizon)
Ask how the advisor builds and monitors your plan (process, frequency of reviews, performance reporting)
Review the fees and what they cover (advice, implementation, account management, custody, trading)
Request a sample fee schedule and account cost breakdown (advisor fees plus fund/ETF expenses)
Check whether they use low-cost, transparent products (understand expense ratios, loads, and surrender charges)
Assess tax-awareness (tax-loss harvesting, asset location, withdrawal strategy, rebalancing discipline)
Confirm access and communication (how you contact them, response times, meeting cadence)
Determine who you’ll work with (advisor vs team; credentials and roles)
Ask about custody and where assets are held (use reputable custodians; understand how you access statements)
Review account minimums and service scope (what’s included, what’s not, and any additional charges)
Request references or client reviews (and verify independently where possible)
Ask detailed questions about risk management (downside planning, rebalancing rules, emergency fund strategy)
Ensure they coordinate with other professionals (CPA, attorney, insurance agent) when needed
Confirm insurance and estate planning capability (or referral network) if relevant to your goals
Evaluate transparency of recommendations (why each recommendation fits your plan)
Look for evidence of long-term consistency (avoid overly complex or overly proprietary strategies)
Conduct an initial interview and compare multiple advisors (at least 2–3)
Trust fit and communication style (clarity, responsiveness, and willingness to explain tradeoffs)
Document everything (scope of services, fee agreement, investment policy, and meeting notes)
Reassess periodically (annual reviews or after major life events)