Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

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Monday, October 15, 2012

Questions That A Financial Planner Should Ask

IRAWhen a person first sees a financial planner, that person needs to be aware that a financial advisor should ask questions about the following topics:

  1. A financial planner might want to consider asking a new client their goals in seeing the financial planner. If a financial planner understands the goals of the client, they can tailor their advice to their client's particular needs.
  2. The planner might also want to ask about the financial situation of the client, his or her current assets, and if the client expects his or her income to change.
  3. In addition to the assets and income of a client, a financial planner might want to ask about whether the client has a formal household budget that he or she follows.
  4. Fourth, a financial planner might want to ask the client how involved the client wants the financial planner to be involved.
  5. Finally, a financial planner needs to discuss the fees that the client needs to pay and how the fee payment would be structured.

See Jacoba Urist, Five Questions a Financial Planner Should Ask You, Life Inc., Today Show, Oct. 14, 2012.

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