Six Key Questions For Interviewing A Finance Manager

Here are six key questions to ask when interviewing a wealth manager/financial advisor...

1. Are you legally a fiduciary required to put your client's interests ahead of your own?

2. Do you provide advice regarding investments, retirement, insurance, cash management and budgeting, estate planning, education planning, and income taxes (planning and return preparation)?

3. Is your compensation from fees only (no commissions, no referral or finders fees, no 12(b)(1) trailing marketing fees)?

4. Are you required to disclose to your clients all of your sources of compensation and any potential conflicts of interest?

5. Are your client's assets maintained at an independent custodian and not accessible to you or your employees?

6. Do you hold a professional designation (e.g. Certified Financial Planner (CFP®), CPA, etc.) that subscribes to a code of ethics and are you required to maintain your professional skills with annual continuing education?