Dedicated guidance from a Financial Advisor

Hopefully, your first meeting with your Financial Advisor is the beginning of a successful working relationship — and it’s important to establish what that relationship looks like right from the start.

• Discuss any opportunities or challenges ahead of you
• Assess your goals and objectives
• Agree on how often we’ll meet
• Address fees and compensation right from the start to avoid surprises

Your first meeting is your chance to let your advisor know what’s on your mind. And just like in any relationship, honesty, communication, and understanding are your greatest allies.

Your financial goals are important — entrust them with an advisor whose approach you’re comfortable with. Ask about their approach to risk management, both in the past and the future; how they respond to life events, both in the market and in their clients’ lives; and even about their career path.

The more you share about your own financial goals and risk tolerance, the better they’ll be able to suggest strategies and make recommendations — and in turn, the more you’ll get a sense of whether they’re the right fit for you.

Your advisor should be able to give you a sense of the services and products they offer — as well as any particular areas of expertise, such as retirement planning, estate planning, or tax planning strategies. But don’t forget, your goals are unique — as are the ways in which you reach them. So if you have an investment path in mind, ask your advisor about it.

It depends. How often you meet – and whether it’s in person, virtually, or over the phone — is something you should agree on with your advisor at the start of the relationship. But also ask about their availability in the event of any unforeseen events — whether it’s a new opportunity, or an unforeseen change in circumstances.  

Your initial meeting with your dedicated advisor will be free. Once you officially become a customer, there are a few ways advisors might be compensated based on the type of service they’re providing.

• Investment advisory (a percentage of assets held in your account)
• Brokerage (a sales charge on each transaction)
• Fee-based planning services

Ask your advisor to explain exactly which would apply to you, what you might expect in terms of fees, and when and how you would be expected to pay them.