Common Questions for Your Financial Advisor

Common Questions for Your Financial Advisor

November 1, 2019

There’s no doubt that having a financial advisor can be of immeasurable value to people at every rung on the economic ladder. That said, not all of us have the extensive financial know-how needed to get the most benefit from a financial advisor. Fortunately, you don’t need a degree in economics to communicate effectively—you just need to know some of the right questions for your financial advisor in Hayward, CA.

What are your qualifications?

We’re not necessarily talking about college degrees here. We’re talking about the various accreditations and extra certifications that financial planners may earn throughout their careers. A quick Google search will tell you the meaning of any extra qualifications that your financial planner may claim.

Are you a fiduciary?

The difference between a fiduciary and a non-fiduciary is simple: a fiduciary acts on the client’s behalf, while a non-fiduciary acts from a place of self-interest. When seeking out a financial planner, obviously, you want a professional who will put your needs before their own bottom line.

What are the associated fees?

The financial world is filled with hidden fees that may not seem evident to you at first glance. So, before you invest your money with a financial planner, find out what kind of “all-in” fees are associated with your financial planner in both the short and long term.

How much access will I have to you?

You likely won’t need to get in touch with your financial advisor every day. Still, when you do have questions for your financial advisor in Hayward, CA, it’s essential to trust that you’ll be able to contact them personally.

Who are your typical clients?

As a prospective individual customer, you may not be interested in engaging the services of a financial planner who focuses on commercial interests. Perhaps the opposite is true. As a result, it’s important to know where your financial planner’s professional focus lies so you can take advantage.

What asset allocation will you use?

Even if you know practically nothing about finance, you probably know that it’s best to have a diversified portfolio. When talking with a financial planner, the way to ask, “How diversified will my portfolio be?” is to question your advisor’s plan for asset allocation.

It’s important to make sure that your financial planner will put your money in a lot of different places, rather than focusing on just one or two economic sectors.

The financial team to trust

Throughout the Hayward, CA area, Menjivar & Company CPAs, Inc. has built a reputation for honesty and reliability among all our customers. In the financial community, we are something of an oddity because we’re here to serve each of our customers with sterling support, no matter how big or small your bank account may be.

If you’re unsure of all the questions you should be asking your financial advisor in Hayward, CA, there’s no need to get frustrated. Call the pros who know—call Menjivar & Company CPAs, Inc. today and let us help you find a brighter financial future.

Categorised in: