Use this checklist to help you assess a possible long-term adviser. The more "yes" answers you give, the better the fit.
Does this adviser make me feel comfortable and fully understood?
Y N Comes across as the kind of person I want to work with for years to come
Y N Seems to understand me as a person and can relate to my goals
Y N Has other clients like me
Y N Has an approach to investing that I understand and feel comfortable with
Y N Feels like someone I can trust to put my interests first
Y N Shows an understanding of my feelings about risk
Y N Gives me a feeling of trust when I share personal information
Does this adviser show me a high level of professional skill and knowledge?
Y N Has a strong background, with good references and a demonstrated track record
Y N Has the proper qualifications and works for a company that is known and trusted
Y N Shows me different models and mixes of investments to help me reach my goals
Y N Will monitor and change the mix of my portfolio from time to time as conditions change
Y N Works with me to write up an investment policy statement that covers things like my target rate of return and my tolerance for risk
Y N Works with a broad range of products, not just one or two specialties, to help me find the right investments for my stage in life
Y N Can give me good advice in a number of key areas, including taxes, managing debt, investing, insurance, and estate planning,
and can bring in other experts as needed
Y N Shows me how I can get long-term growth that compares well with what the overall market does
Is this adviser easy to work with?
Y N Answers my questions clearly and patiently
Y N Clearly explains the risks in any investment
Y N Explains other options and the pros and cons
Y N Provides quarterly performance reports so I will know how I’m doing
Y N Is willing to speak with me throughout the year
Y N Will meet with me at least once a year to talk over my finances
Does this adviser charge competitive fees?
Y N Explains fees and any extra charges clearly, in advance, so there are no surprises
Y N Provides value for what they charge