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Updated by Fusion 360 on Nov 10, 2014
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8 Most Common Financial Advising Questions

Finance is a confusing topic, however, it does not have to be if one has financial advisors that can effectively answer the following questions. Run your potential financial advisors through the inquisition below and their answers should tell you how capable they are of managing your wealth.

What is financial planning?

Financial planning is an ongoing process to help make decisions about money, including how to spend and save it. This process helps budget and save money to help achieve goals and projects. Whether it is a summer home in Idaho or sending a child to school, advisors help organize the money.

Are you a fiduciary?

A fiduciary is a fancy word for trust. Although trust takes on different meaning in the financial world than it does in the world of human relationships, both are of concern when selecting financial advisors.

How much do you charge?

Clients commonly ask how much money a firm will charge. Fees fluctuate from state to state. The fees of advising in Idaho could differ from even the surrounding states. This question has an answer that is susceptible to change.

What services does the firm provide?

Some financial advising firms offer different services or specialties. The specialties range from insurance to retirement and cover everything in between. Some businesses provide advice solely on investments.

Is it just for wealthy people?

Middle or upper class citizens typically utilize financial advising. However, the advising can help turn middle-income clients into higher income clients for all groups on the wealth stratification scale. It can be argued that the middle income need more help than the upper income, though the upper income often seek help more commonly.

Is estate planning important for young people?

People who are younger do not think about financial planning very often, but it is very important. Anyone who has children, a house, property, or owns a retirement fund should invest in advising.

Do you work with a team or as an individual?

People commonly wonder if they will be working with a single person or a team of advisors. The firms differ from the coastlines to Idaho and clients are occasionally given the option.

Why can’t I do it myself?

While the initial aspect of investing may seem easy it is the plan that takes training to create. Advisors can help ease that burden and create a successful plan that can be trusted.




Ciera Putnam writes for Sanctuary Wealth Management. She is a writer at Fusion 360, an advertising agency in Utah. Find her on Google +

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