An important aspect of working with a financial advisor is understanding what they’re talking about. It doesn’t matter the topic, investments, taxes or retirement plan, it should be clear and concise. Their job is to simplify everything for you, but you’ll need to be informed and ready to ask questions.
It can be a stressful experience, but it doesn’t have to be. Follow these conversation topics and tips to get the most out of it.
The overarching theme
Make sure you ask your advisor a lot of questions and make sure you are getting to all the available different options.
It’s key to know exactly where your money is going and they should be able to help you do that. A lot of options in terms of investments, advisors and other ideas will come your way, but take a step back and analyze the situation.
In any case, the first thing you must do is have a budget, a foundation and a plan to guide you. Then and only then, you can decide what your plan will be.
Mostly, work closely with your advisor and build trust, it’s the only way it will work.
If you really want to do your homework, send these five questions to your advisor ahead of time and you will leave the meeting with what really matters.