7 Ways to protect yourself and your family

Find out if your financial advisor is a fiduciary

  1.  Ask your advisor or any prospective advisor if they would be willing to complete the questionnaire provided by the organization “Focus on Fiduciary”
  2. Insist on full fee disclosure.  If the prospective advisor is not willing to provide this information, walk away.  Remember, a commissioned sales person by law does not have to disclose all their fees.
  3. Ask your advisor if he/she accepts referral fees.  This is important.  If your advisor accepts referral fees when he recommends someone to you, this is a warning sign.
  4. Check the FINRA BrokerCheck to see if there are any registered complaints against the advisor.
  5. Do not pick an advisor just because a relative or friend recommended him/her.  While references are very important, do your own due diligence.
  6. Arm yourself with knowledge.  Do your homework.  Sit down and make a check list of qualities you would like in a planner.  Then, look for a planner that meets those specifications.
  7. Watch this 3 minute video on Top Questions to ask your Financial Planner. (It may take a minute to load)