Questions to Ask a Financial Planner

by Galia Gichon on October 23, 2007

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.

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