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If you are meeting a financial adviser for the first time, it can be exciting as well as a bit daunting. Exciting because you are all charged up to get your financial position in order, and daunting because you just don’t know what to expect.
If you are meeting a financial adviser for the first time, it can be exciting as well as a bit daunting. Exciting because you are all charged up to get your financial position in order, and daunting because you just don’t know what to expect.
You may also ask yourself:
You may also ask yourself:
‘Do I need to do anything or bring something to the first meeting?’
‘Do I need to do anything or bring something to the first meeting?’
To be prepared for the meeting helps to create a first meeting experience that is truly meaningful and valuable for both the client and the advisor.
To be prepared for the meeting helps to create a first meeting experience that is truly meaningful and valuable for both the client and the advisor.
Here are 35+ Meaningful Questions to help prepare you for your first meeting with a financial advisor
Here are 35+ Meaningful Questions to help prepare you for your first meeting with a financial advisor
It’s nice to kick off the relationship by setting expectations. That is, what to expect from an adviser and what is expected of you as the client.
It’s nice to kick off the relationship by setting expectations. That is, what to expect from an adviser and what is expected of you as the client.
1. What is your NOW situation?
1. What is your NOW situation?
Having a good understanding of your current situation, both personally and financially, is key to getting your financial future in order. Here are some questions to start thinking about your NOW situation.
Having a good understanding of your current situation, both personally and financially, is key to getting your financial future in order. Here are some questions to start thinking about your NOW situation.
How confident and comfortable are you about your current situation?
How confident and comfortable are you about your current situation?
What things would you like to change? What can be improved or enhanced?
What things would you like to change? What can be improved or enhanced?
Where do you need help the most?
Where do you need help the most?
What does your current lifestyle look like?
What does your current lifestyle look like?
Where are you today?
Where are you today?
Where do you want to be tomorrow?
Where do you want to be tomorrow?
What do you wish for?
What do you wish for?
What are some of your current concerns or challenges?
What are some of your current concerns or challenges?
If you can start thinking about these questions before heading off to your meeting, you’ll be better prepared and ready to plan for your future.
If you can start thinking about these questions before heading off to your meeting, you’ll be better prepared and ready to plan for your future.
2. Where do you want to get to?
2. Where do you want to get to?
Start thinking about your future.
Start thinking about your future.
What do you imagine?
What do you imagine?
What is the big picture story?
What is the big picture story?
Where do you see yourself in 5, 10 or 15 years time?
Where do you see yourself in 5, 10 or 15 years time?
What are your goals both personally and financially?
What are your goals both personally and financially?
What are your most important goals?
What are your most important goals?
What are the things you need to sort out today, tomorrow and going forward?
What are the things you need to sort out today, tomorrow and going forward?
Is retirement a concern for you?
Is retirement a concern for you?
Do you know how much income you’ll need to retire?
Do you know how much income you’ll need to retire?
When you retire, what would you like to do?
When you retire, what would you like to do?
What do you see yourself doing?
What do you see yourself doing?
Where would you like to retire to?
Where would you like to retire to?
What kind of investors are you?
What kind of investors are you?
Do you have experience in investing?
Do you have experience in investing?
How much risk are you comfortable in taking?
How much risk are you comfortable in taking?
Have you had any bad experiences with investing? If yes, what were they?
Have you had any bad experiences with investing? If yes, what were they?
3. What you’ll need to bring with you?
3. What you’ll need to bring with you?
Your honest responses to the above questions plus documentation about your current financial details, assets, liabilities, income, superannuation and other relevant information to provide a complete financial picture.
Your honest responses to the above questions plus documentation about your current financial details, assets, liabilities, income, superannuation and other relevant information to provide a complete financial picture.
Have some questions you want to ask about your current situation, and jot down a couple of immediate priorities you need to get sorted.
Have some questions you want to ask about your current situation, and jot down a couple of immediate priorities you need to get sorted.
Expect to do a lot of talking because the first meeting is all about YOU because you are the client.
Expect to do a lot of talking because the first meeting is all about YOU because you are the client.
It is an opportunity for you to get to know your adviser and vice versa. Your adviser will ask a lot of questions, and probe deeper to get to the heart of your goals, dreams and aspirations.
It is an opportunity for you to get to know your adviser and vice versa. Your adviser will ask a lot of questions, and probe deeper to get to the heart of your goals, dreams and aspirations.
4. Questions to ask your adviser
4. Questions to ask your adviser
When deciding upon choosing the right adviser, it is important you get to ask a lot of questions as well.
When deciding upon choosing the right adviser, it is important you get to ask a lot of questions as well.
This first meeting is a golden opportunity for you to interview the adviser to determine whether you are happy to proceed to the next step.
This first meeting is a golden opportunity for you to interview the adviser to determine whether you are happy to proceed to the next step.
Think of it as a job interview, and have some questions prepared so you can ask the right ones to help you decide with confidence.
Think of it as a job interview, and have some questions prepared so you can ask the right ones to help you decide with confidence.
Some questions you may want to ask:
Some questions you may want to ask:
Why are you a financial adviser?
Why are you a financial adviser?
What do you most like about your role?
What do you most like about your role?
How long have you been a financial adviser?
How long have you been a financial adviser?
What are your qualifications?
What are your qualifications?
What are your credentials?
What are your credentials?
Do you have many client testimonials?
Do you have many client testimonials?
Who do you enjoy helping the most? What kind of clients do you enjoy helping?
Who do you enjoy helping the most? What kind of clients do you enjoy helping?
How have some of your clients benefitted from your advice?
How have some of your clients benefitted from your advice?
How do you like to work?
How do you like to work?
How do you charge?
How do you charge?
What is your fee structure?
What is your fee structure?
What can I expect from you?
What can I expect from you?
How do you look after your clients?
How do you look after your clients?
What is the best way of contacting you? How often will we meet?
What is the best way of contacting you? How often will we meet?
Who will look after me if you are away?
Who will look after me if you are away?
As you can see, this is just a starting point to developing and building a long lasting relationship with an adviser.
As you can see, this is just a starting point to developing and building a long lasting relationship with an adviser.
Being prepared reveals your level of commitment to your financial future and security, so to get the most out of your first meeting with an adviser, do a bit of homework, and walk into your appointment with confidence and excitement.
Being prepared reveals your level of commitment to your financial future and security, so to get the most out of your first meeting with an adviser, do a bit of homework, and walk into your appointment with confidence and excitement.
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