Do you feel your financial advisor adequately explains and discloses all relevant facts related to an investment or insurance product recommendation? What responsibilities does your financial advisor have to place your best interests before their interests? If you cannot readily answer these questions you need to ask specific questions which any True North Financial Advisor can answer clearly and to your complete satisfaction.
In our society, personal property is protected by many laws. According to the Constitution, the pursuit of happiness is considered an inalienable right. So why are investors hesitant about asking questions about their money? Is it because they do not want to embarrass their financial advisor or maybe hurt their feelings? It’s your money why not ask. Perhaps, you do not know what questions to ask. What are the duties and responsibilities that govern a financial advisor? The following questions will help you determine where your stand on many issues and whether a comprehensive review with a True North Financial Advisor might be advisable. Make sure to ask the following questions:
- How long have you been offering financial planning advice to clients?
- Do you have experience and expertise in providing financial advice on what topics?
- What financial planning designation(s) or certification(s) do you hold?
- Do you have a business affiliation with any company whose products or services you recommend?
- Is any of compensation based on selling financial or insurance products?
- Are you required under law to act as a fiduciary by always placing my interests first?
- What are the potential conflicts of interest that you have when recommending certain products for sale to me?
- How will you disclose these to me prior to purchase, including any special cash payments or incentives that you receive?
- Do you provide a written client engagement agreement?
- Do you have client references that you can provide to me?
For a satisfactory explanation of the reason why these are important questions to understand and have answered ask a True North Financial Advisor.
