Questions to Ask a Financial Advisor

What questions should you ask a financial advisor?

Before hiring an advisor, ask a short set of direct questions that reveal how they are paid and whose interests come first. The essentials are: are you a fiduciary at all times, how are you paid, what are your fees in writing, what services do you provide, do you have conflicts of interest, and what experience do you have with people in my situation. A good advisor welcomes every one of these.

1. Are you a fiduciary, all the time?

This is the most important question. A fiduciary is required to act in your best interest — for a Registered Investment Adviser (RIA) that duty is set by law, while a CFP professional is held to it by the CFP Board. Listen for a clear "yes," and ask them to confirm it in writing. Be cautious if the answer is "only sometimes" or vague.

2. How are you paid?

How an advisor earns shapes the advice they give. Ask whether they are fee-only, fee-based, or commission-based, and whether they earn commissions on anything they might recommend to you. The fee-based vs. commission-based guide explains each model.

3. What are your total fees, in writing?

Ask for every cost in writing, including any underlying fund or product fees. A clear figure lets you compare advisors and judge value. See typical ranges in how much a financial advisor costs.

4. What services do you provide?

Some advisors only manage investments; others handle comprehensive planning — retirement, taxes, insurance, and estate coordination. Make sure their services match what you actually need.

5. Do you have any conflicts of interest?

Every advisor has some potential conflicts. What matters is that they disclose them plainly. A fiduciary must tell you when a recommendation could benefit them.

6. What experience do you have with clients like me?

An advisor who regularly works with people in your situation — for example, nearing retirement, business owners, young families — is more likely to anticipate your needs.

What good answers sound like

The answers matter, and so does the way an advisor responds. Watch for these good signs:

• They explain things in plain words.
• They are clear and upfront about fees.
• They take time to understand your goals.
• They put their answers in writing.

And these warning signs:

1. They dodge questions about how they are paid.
2. They promise high returns with no risk — no honest advisor can.
3. They rush you to decide.

Bring this list to your match

You do not have to find candidates on your own. Our free service matches you with vetted fiduciary advisors, so you can focus on the conversation and ask these questions with confidence — with no obligation to hire anyone. For the full search process, see how to find and vet a financial advisor.