Broker Check

Evaluating a Potential Advisor

When evaluating a potential advisor, answers to the following questions will assist you in the evaluation process:

  • How is the advisor compensated?
  • What are the advisor’s professional credentials?
  • What type of service does the advisor provide?

How is the advisor compensated?

It is a good idea to ask the following questions:

  • Is the advisor compensated by a management fees or upfront commissions?
  • Is the advisor independent and do they receive incentives to recommend proprietary products?
  • Do the advisor’s recommendations directly impact their paycheck?

What is the advisor’s background?

  • Find out if the advisor has expertise in your specific area (for example, retirement transitions)
  • Understand whether the advisor or firm has an investment philosophy to help ensure your goals are being met

What type of service does the advisor provide?

  • Ensure the advisor provides personal service, including meeting face-to-face regularly and as needed
  • Assess whether the advisor really listens to what is important to you
  • Insist on honest, direct communication, even if this includes delivering a tough message
  • Verify the investment recommendations are not a “product sale,” but truly taking a comprehensive approach to your complete financial picture

Jones Kirkpatrick and Associates Financial Services, LLC is an independent financial services firm committed to working with you to determine a financial strategy to help meet your needs.