The Financial Professional Questionnaire

Updated: November 20, 2025

Finding a financial professional can be similar to choosing a doctor, a home remodeler, or another service provider – you want someone you can trust. You can start by searching online, asking friends, checking professional directories, or reviewing ads to find the right match. Once you’ve identified candidates, reach out directly with questions to learn more about their approach. Asking questions early could help you narrow down your options. Ultimately, once you’ve hired and are working with a financial professional, continue asking thoughtful questions to get the most value from the relationship.

Here are some key questions to ask a current or potential financial professional, along with explanations to help you understand why these questions are essential.

Questions to Ask When Looking for a Financial Professional

 

Am I confident that I’ll have enough money to retire comfortably?

Understanding your current financial situation could help you better assess your future needs and convey them to a financial professional. Without a complete picture of your finances as well as your goals and aspirations, a financial professional may not be able to support you as effectively. When you share this type of information, your financial professional can create a retirement strategy tailored to your holdings, goals, and financial outlook.


Do I have a clear understanding of the investment fees I currently pay – without any professional guidance?

In order to accurately assess the value of a relationship with a financial professional, evaluate how much you currently pay in fees for any self-directed investments. If you’re considering partnering with a new financial professional, it would be helpful to know exactly what you’re currently paying for any financial services – whether guided or self-managed. Also, consider that a financial professional can provide insight, expertise, and guidance that you may not get from personally managed investments.

Questions to Ask When Interviewing a Financial Professional

 

What type of services do you provide?

It’s important to know what a financial professional can and cannot do for you. The financial services industry is broad, and a range of professionals from tax preparers to fund managers may offer financial advice that may not align with your long-term interests. Common services like creating a budget, choosing insurance, managing taxes, and planning for retirement can fall under the scope of a financial planner or financial professional. Find a financial professional whose services match and, preferably, exceed your expectations.

What should I know about a financial professional’s background and experience?

A financial professional’s record is an important topic to explore because it can reflect their credibility and reliability. Before you commit to working with them, ask about any past client disputes or regulatory issues, and verify their record through BrokerCheck – a registry maintained by the Financial Industry Regulatory Authority (FINRA). It’s also recommended that you inquire about their education, certifications, and employment history, and request references from current clients.

How often will we connect, and in what ways?

Many financial professionals share updates through newsletters, podcasts, blogs, or emails, but direct communication is essential. Your financial professional should also conduct regular check-ins via face-to-face, phone, or video meetings – typically annually, semi-annually, or quarterly. Financial professionals should provide additional outreach during key events like market volatility, tax season, or as your retirement date approaches. You should have the flexibility to reach out anytime, whether you’re planning a major expense, navigating a life change such as divorce or inheritance, or simply want to review your options.

Who will I work with if I become a client?

Ideally, you’ll work regularly with the person you recruited or were referred to. If not, you’ll want to meet the person or team you’ll be working with, especially if you’re working with a larger practice. Be sure that you feel comfortable with all the members of the team before committing to the partnership. Also ask about business continuity planning – for example, what happens if the financial professional you signed on with retires, leaves the firm, or is otherwise not available.

What is your approach to investing?

There are many approaches to investing, and financial professionals often have different philosophies. Some may take a contrarian approach, looking for undervalued opportunities that others may overlook. Other financial professionals may follow momentum strategies, focusing on investments that gain value quickly. Beyond these styles, a financial professional may also have different priorities. Some may emphasize stability through guaranteed income streams, while others may pursue higher-risk opportunities for potentially greater rewards. To feel confident in your choice, look for a financial professional whose approach aligns with your goals and comfort level.

How do you charge for your services?

Don’t be shy about asking how you’ll pay for the services they provide. Financial professionals may charge a flat one-time fee for basic offerings like preparing financial plans, an ongoing annual fee based on a percentage of the assets they manage, or earn commissions from you or the company that provides the investments.

Working With Your Financial Professional

 

What strategies have you recommended to clients in my situation?

Financial professionals often specialize in certain types of investments. Some focus on individual stocks and bonds, while others prefer mutual funds or private equity investments. Some financial professionals also consider tax-advantaged options such as annuities or municipal bonds. Whatever their specialty, recommendations should align with your needs, goals, and risk tolerance. Also, it’s recommended that you never invest in anything you don’t understand. If anything is unclear, ask your financial professional to explain it in detail

What concerns should we discuss, and what might I be overlooking?

Understanding your financial professional’s perspective on market risks and economic trends can help you gauge how they’ll help guide your plans for retirement. It’s also important to explore your own blind spots as an investor, and a good way to address them is by asking questions like: “Is this a good decision?” “Do you see any biases affecting my choices?” or “Is there anything I’m missing?” Being open to your financial professional’s feedback could help you see your finances more clearly and make better choices. These conversations can also build trust and help ensure that your strategy stays aligned with your goals.

How can we maximize the value of my portfolio?

Your financial professional should regularly evaluate and stress test your portfolio and plans for retirement, making adjustments as needed. Your expectations should be for your investments to work as hard as they can so it’s not a “set it and forget it” approach. Make sure your financial professional is optimizing your investments so they support your long-term plans.