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May 9, 2018

CNBC | May 9, 2018 | The Questions you need to ask a financial advisor


The questions you need to ask a financial advisor


Straight talk from the money editor

Investors can, of course, go it alone when it comes to managing their money. You can also try the "do it yourself" approach to fix a leaky pipe, rewire the house or repair that car engine. In some cases, doing it yourself is a great idea — but in many others, it's a disaster.
Let's face it: Financial planning and investing can get complicated. It may give you peace of mind to know you have a trusted financial pro in your corner. If you are ready to hire a financial advisor, you need to take the time and do the research to find the right person.
Check various sites (such as the Financial Planning Association and the National Association of Personal Financial Planners ) to get names of advisors. Once you have some names, interview three or four candidates before settling on one. Also, ask tough questions. You want to get a complete picture of an advisor's background, specific expertise, fee structure and investment philosophy. Also, run a background check on the advisors you interview and ask for references from other clients. But in the end, you need to trust your gut. Ask yourself: Is this the right person to entrust with my money decisions?
For more cool stuff like this, please follow me on Twitter @jimpavia.

Jim Pavia
Money Editor



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