The 5 Things People Ask Potential Advisers and Why They Are Wrong

Finding the right financial planner takes more thought than asking the same old questions. Here's where people are going wrong, and what they should ask instead.

(Image credit: baona)

We recently had a prospective client ask us to send out our Form ADV Part 2. That was their only question. This SEC filing is essentially a marketing brochure that duplicates information on our website. We sent it, of course, but we’re certain it didn’t really tell much about what we do and how it would — or would not — match this person’s needs.

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Lorraine Ell, CEO
Investment Adviser Representative, Better Money Decisions

I'm the CEO of Better Money Decisions (B$D) and co-author of the blog Better Financial Decisions. As a principal of B$D, I'm excited to continue my long career as an investment professional. Living and working in places as diverse as Saudi Arabia and Budapest, Hungary, has given me a unique perspective on the world of investing. My book, "Bozos, Monsters and Whiz-Bangs: Bad Advice from Financial Advisors and How to Avoid It!" is an insider's guide to finding the right adviser.