I got these questions from a recent issue of Money magazine and thought they were really great and pointed when working with a Financial Planner.
• This new fund you are suggesting I invest in, how long have you been selling it? You want them to answer more than 3 weeks and at least one year.
• How much will you make on the deal? If they say nothing, that is not true. They are always getting paid.
• Is there a less expensive way to pay for your help?
• Are there any good funds you can not sell me? I had a colleague at an investment bank that told me she loved Vanguard mutual funds but could not sell them. I appreciated her honesty.
• Why do I need to replace my current investments with this new one?
• What are the tax consequences of selling this old fund at a profit? If they answer, go ask your accountant, they are not really doing the best job.
Check out “MY MONEY MATTERS” kit.
Tools to Build Peace of Mind and Long-Term Wealth
If you are not already a subscriber, I invite you to subscribe to my FREE weekly e-mail newsletter at DownToEarthFinance-On@zines.webvalence.com for smart tips to save more money and independent advice about mutual funds and retirement or or visit Down-to-Earth Finance.