5 Questions to Ask You Financial Planner

Financial Planner Questions

Ask these questions to any Financial Planner before you engage his/her services

1.    How will you help me reach my goals?

Our View – Helping you reach your goals is bigger than just focusing on stocks and the markets – it’s about understanding your priorities, your goals and what matters most to you. Financial planning cannot be a cookie cutter approach of recommending few mutual funds but a well thought approach to meet your goals. After having a Detailed, Honest and Meaningful conversation with you that combines your goals with your attitudes toward risk and money, your advisor should design an investment strategy around what really matters to you.

2.    How will you build my financial strategy?

Our View – Financial world is very complex with many variants of insurance, thousands of mutual fund schemes etc. Your financial planner should build a sound financial strategy keeping your goals and priorities in mind. This should be combined with your tax-ability and your appetite for risk taking.

3.    How will you ensure that I stay on course over time?

Our View – Your Financial Planner should have access to the industry-leading research, advanced analytics and actionable insights, to periodically monitor and adjust the strategy over time to make sure you stay on course, as your life and the markets change.

4.    What about risk?

Our View – Your financial planner should have open conversation with you to understand the level of risk you are comfortable with for each of your unique goals. Next, your advisor should design and clearly explain a comprehensive investing strategy that considers your risk tolerance, liquidity needs and investment time horizon and discuss possible outcomes for each recommended strategy. And, of course your investing strategy should be updated to keep up with changing needs over time.

5.    What will be the costs associated with Financial Planning?

Our View – Trust comes from Transparency. Your financial planning should be honest and straightforward with you to let you know all the costs associated with this activity. You should know what to expect before you start working with him.

Posted in Financial Planning and tagged CA, financial Planner.