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10 Questions to Ask Before Hiring a Financial Advisor
Find the right person to guide your money decisions—with confidence, clarity, and the right questions.
- Written By: Jason Vitug
- Last Updated:
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When it comes to building wealth, planning for the future, or just making smart moves with your money, a financial advisor can be a game-changer. But not all advisors are created equal.
Some are genuinely in your corner. Others? More interested in selling products than serving your best interests.
Before you hand over your trust—and potentially thousands of dollars—make sure you know exactly who you’re working with. These 10 questions will help you cut through the noise and find the advisor that aligns with your goals, values, and money mindset.
1. Are You a Fiduciary?
This is the question. A fiduciary is legally required to act in your best interest. That means they must prioritize your goals, not their commissions.
💡 Smile Money Tip: Always choose a fiduciary. If they hesitate to answer or say “sometimes,” that’s your cue to walk away.
2. How Do You Get Paid?
Some advisors earn a flat fee. Others earn commissions from selling financial products like insurance or investments. Some do both.
- Fee-only advisors are typically more transparent.
- Commission-based advisors may have conflicts of interest.
- Fee-based is a mix—know the breakdown.
You deserve to know how your advisor is compensated—because it affects the advice you get.
3. What Are Your Credentials?
Not all financial professionals are created equal. Look for reputable designations like:
- CFP® (Certified Financial Planner)
- CPA (Certified Public Accountant) with financial planning focus
- CFA® (Chartered Financial Analyst)
Avoid generic titles like “financial coach” or “money expert” without clear certification or experience.
4. What Services Do You Offer?
Are they just focused on investments, or do they provide a full picture—budgeting, tax planning, estate guidance, debt management, and more?
You want someone who aligns with where you are and where you’re going.
5. Who Is Your Typical Client?
An advisor who typically works with high-net-worth retirees might not be the best fit if you’re in your 30s, managing student loans, and building your first investment portfolio.
You want someone who gets your stage of life and knows how to support your journey.
6. What Is Your Investment Philosophy?
Are they into long-term, diversified investing or day-trading hype?
A good advisor should have a clear, evidence-based strategy—and it should match your comfort level, values, and financial goals.
7. How Will We Work Together?
Ask about communication style, meeting frequency, and tech tools.
- Do they offer virtual meetings?
- Will you have access to a dashboard?
- Are they available between check-ins?
This relationship should feel collaborative, not transactional.
8. Can You Break Down All the Fees I’ll Pay?
This includes account management fees, fund expense ratios, trading costs, and any hidden fees.
Ask for a sample client scenario so you can clearly see how the numbers play out.
9. Have You Ever Been Disciplined or Had Complaints Filed Against You?
It might feel awkward, but it’s fair game. You can also verify their record with:
This is about your trust—and your money.
10. Why Did You Become a Financial Advisor?
This question gets to the heart of who they are. You’re not just hiring technical skills; you’re choosing a guide. Their answer can tell you a lot about their values, passion, and whether they’ll genuinely support your vision of financial wellness.
My Final Thoughts: You Deserve a Financial Ally, Not Just an Advisor
Money is personal. The person guiding you through financial decisions should make you feel empowered, not confused or sold to.
Take your time. Ask these questions. And trust your gut.
Because when you have the right advisor, you’re not just investing your money—you’re investing in your peace of mind.
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Author Bio
Jason Vitug
Jason Vitug is the founder and CEO of phroogal. His writings explore the intersection of money, wellness, and life. Jason is a New York Times reviewed author, speaker, and world traveler, and Plutus-award winning creator. He holds an MBA from Norwich University and a BS in Finance from Rutgers University. View my favorite things→
Jason Vitug
Jason Vitug is the founder and CEO of phroogal. His writings explore the intersection of money, wellness, and life. Jason is a New York Times reviewed author, speaker, and world traveler, and Plutus-award winning creator. He holds an MBA from Norwich University and a BS in Finance from Rutgers University. View my favorite things→
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