Questions to Ask When Needing Wealth Management Services

Questions to Ask When Needing Wealth Management Services

Date: April 16, 2021,

Nearly everyone can benefit from financial planning and wealth management services. But before you hire a wealth management specialist, it’s smart to schedule an appointment where you can ask some questions about the professional, their services, and how they can best serve you. Here’s a list of important questions to ask when you’re in need of wealth management services in Indiana — 

What’s the Profile of an Average Client?

Different financial professionals specialize in helping different types of clients and providing a wide range of client services. For example, some wealth management companies may specialize in high net-worth individuals; others may focus on small business owners; and yet others may focus on average, everyday people. Be sure to ask your potential financial planner who they normally work with — this can be a clue as to whether they are a good fit for you. 

Are You a Fiduciary?

Another important question to ask a potential financial planner or wealth management professional is whether or not they are a fiduciary. A fiduciary is someone who has a legal responsibility to work in a client’s best interests. This is important because you want to make sure that your wealth management professional is making decisions based on what will serve you, not what will make them money. 

What Certifications Do You Hold?

There are a variety of different certifications and designations that a financial professional may hold. Most commonly, a person may be certified as a CERTIFIED FINANCIAL PLANNER™, Chartered Financial Analyst ®, a licensed Investment Advisor Representative, and more. This list is by no means inclusive, though — you can read more about the certifications of financial professionals on the website of the Financial Management Association. 

How Much Will This Cost Me?

You absolutely want to ask a financial professional how much they charge for their services and how you’ll be billed. You should focus on fee-only advisors, which are advisors who don’t get a commission for selling products. Fee-only advisors may charge a flat fee for services that’s based on a percentage (i.e. one percent), or an hourly fee. 

Learn More About Wealth Management Services Today

If you are in need of wealth management services and have questions about the types of services that are offered and what to expect throughout the process, call Harvest Financial Planning, LLC directly today. We are here to assist you with all of your financial planning needs. Reach us today by phone or online to schedule a free initial meeting with our team. 

Call Now Button