Questions to Ask When Interviewing a Financial Advisor
Kimberly Green | 2026-03-29
6 Questions to Ask a Financial Advisor Before You Hand Over Your Money A financial advisor discovery call is a sales call. The advisor is trying to win your business. They're warm, they're credible, they ask thoughtful questions about your goals, and by the end of the call you feel like they understand you. That feeling is not the same as vetting. The right questions don't just make conversation—they reveal conflicts of interest, capability gaps, and mismatches that wouldn't surface in a standard discovery call. They make the advisor demonstrate fit rather than just assert it. Here are six questions that do exactly that. Question 1: Are You a Fiduciary 100% of the Time? This is the most important question on the list. And the qualifier—100% of the time—matters more than the question itself. A fiduciary is legally required to act in your vetted interest. Not just required to recommend suitable products, but to actively prioritize your interests over their own. It's a legal standard with real consequences. Many advisors are fiduciaries in some contexts but not others. A fee-based advisor might operate as a fiduciary for planning work but revert to a suitability standard when selling investment products. That hybrid is common and genuinely confusing. The specific answer you want: "Yes, I am a fiduciary 100% of the time, and my only compensation comes from client fees. I receive no commissions or payments from third parties for any recommendations I make." Anthony Syracuse at Dynamic Financial Planning is explicit about this. He's a fiduciary 100% of the time, charges no commissions, and is a NAPFA member—which requires fee-only status. That combination is the cleanest possible answer. If an advisor hedges, qualifies, or pivots when you ask, you have your answer. Question 2: How Exactly Are You Compensated? Follow up the fiduciary question with specifics. You want to understand exactly how money flows to this advisor—from every source. The possible models: AUM Fee Only They charge a percentage of the assets they manage, typically 0.5% to 1.5% annually. Clean model, though it creates an incentive to grow assets under management rather than recommend moving money elsewhere. Flat Annual Retainer A fixed fee for comprehensive financial planning regardless of asset size. Bull Oak Capital charges a flat $15,000 per year covering financial planning, investment management, tax strategy, and tax prep. No AUM fee on the first $1M. Hourly Billed by the hour for specific advice. Appropriate for one-time engagements or targeted questions. Commission Paid by product...
