Seven
Questions
to Ask Your
Advisor
When it comes to picking the right financial advisor, what prospects sometimes forget is that it’s not a simple decision. In fact, it’s probably one of the biggest financial decisions someone will make for their financial future. Regardless if you’re getting ready to retire, starting to create an investment portfolio, or trying to seek help in El Paso because of the uncertainty in the market, the financial advisor you pick could change your financial future more than you had anticipated.
With hundreds of wealth managers to choose from, how can you decide which one is the best for you?
If you are looking for a financial advisor in El Paso, finding the right questions before deciding who you’re going to go with could ensure you’re finding that advisor who understands you, your goals, communication style, and provides investment strategies that fit with your unique financial journey.
At Stratos Investments of OneSeven, we believe these seven questions are what every person should ask before making that final decision on a financial advisor.
Not all financial advisors are legally demanded to put your interests first. Shocking right?
A fiduciary must legally act in your best interest when it comes to financial advice. So, knowing if your advisor is running under this procedure can give you better reassurance that the decisions your wealth manager has, is based on what you need rather than personal objectives.
So, ask:
“Do you implement as a fiduciary 100% of time when you provide your investment advice?”
For my Stratos Investments family, they have learned that every manager is unique in their managing of their clients’ assets.
Some’s priority is passive investing, while others (like me) are constantly adjusting their portfolios based on the continuous changes in the market, economic trends, or risk management strategies.
When you understand an advisor’s investment philosophy, it shows whether your personal financial goals and comfort level aligns with their portfolios.
So, when you meet a financial advisor, ask them:
Transparency matters.
When people talk to financial advisors, they sometimes forget that it is still a paid service. So, any financial advisor might charge:
When you figure out how an advisor gets compensated, you can get an understanding on the services you’re being charged and why these individuals set up their structure.
Ask them:
“Can you give more insight on how you’re compensated?”
All advisors specialize with a variety of people. Some assist with retirees, business owners, physicians, executives, or high-net worth families.
Choosing an advisor that has clients with a similar background as yourself, often leads to personalized planning tailored to you.
A good example is you are a high-net worth family. When you have a financial advisor who specializes in this area, you can benefit from someone with expertise with income planning, tax-efficient withdrawal strategies, long-term wealth preservation, and strategic planning with higher education for your kids.
Just ask:
“Who is your ideal client and how do you benefit them with their particular situation?”
When it comes to building a strong foundation with your advisor, it typically goes above just investment management.
Ask if your advisor also provides guidance on:
Consistent planning helps make sure that every aspect of your financial life is put together.
Communication is another important part of developing an advisory relationship.
Clients and investments prefer annual reviews, while some enjoy more consistent check-ins during life events (such as marriage, vacations, and college), or when the market condition changes.
Ask your advisor:
Now this might be an uncomfortable question, but it’s also an important one as it shows the biggest differences between other advisors
Listen for answers that focus on:
A well-rounded financial partnership should include education, planning, and guidance tailored to your goals.
With technology opening the doors for investors and clients to meet individually throughout the country, having a local financial advisor that you can meet face-to-face is important because those advisors understand the economy and the community in the city.
That’s why working with a financial advisor in El Paso could make communication easier and build a stronger long-term relationship that is built on trust and more personal service.
Whether you’re getting ready for retirement, managing different assets, or needing more guidance as the market changes, having a local advisor available when you need help could add confidence.
When it comes to hiring a financial advisor, it’s more than just managing your investments. It’s also about creating a long-term relationship with someone who not only understands your financial goals, but also helps maneuver important decisions in your life.
Hopefully when you ask these seven questions with your next potential financial advisor, you can be better prepared to find an advisor who you can work well with, provide guidance, and help create a strategy more aligned with your goals.
If you are considering finding a financial advisor in El Paso, take some time for yourself to look at all your options, as those important questions, and find somebody not only has the experience, but also can meet your potential financial goals.
At Stratos Investments of OneSeven, we do believe that every client has their own needs, and we strive to meet those needs with personalized investment strategies designed around their goals.
If you want to reach out and learn more about our personal investment philosophy, discuss your financial goals, or just want to have an open conversation, we’d be happy to discuss and open the conversation.
Contact Info:
Address: 210 N Stanton St Ste 3 El Paso, TX
Phone: (915) 312-6117
E-Mail: Bernard@stratosoneseven.com
Stratos Investments is a DBA of OneSeven, an investment adviser in Ohio. OneSeven is registered with the Securities and Exchange Commission (“SEC”). Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Commission. OneSeven only transacts business in states in which it is properly registered or is excluded or exempted from registration. A copy of OneSeven’s current written disclosure brochure filed with the SEC, which discusses OneSeven’s business practices, services, and fees, is available through the SEC’s website at: www.adviserinfo.sec.gov. All titles listed for Individuals associated with Stratos Investments represent the individual’s role with Stratos Investments.
Please note, the information provided in this presentation is for informational purposes only and investors should determine for themselves whether a particular service or product is suitable for their investment needs. Please refer to the disclosure and offering documents for further information concerning specific products or services. Investments in securities entail risk and are not suitable for all investors. Past performance is not a guarantee of future returns. This is not a recommendation nor an offer to sell (or solicitation of an offer to buy) securities in the United States or in any other jurisdiction.
