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March 7, 2024

7 Essential Questions to Ask A Financial Advisor in 2024
David Hicks

Navigating today’s complex economic landscape demands robust financial planning. Whether you’re in Albuquerque, NM, or anywhere else, partnering with a financial advisor is a strategic move. Here are seven critical questions to ask any prospective advisor, along with reference links to deepen your understanding:

  1. Are you a fiduciary? Ensure your advisor is legally obligated to prioritize your interests. Learn more about the fiduciary standard from Investopedia.
  2. How do you get paid? Transparency in compensation is crucial. Explore common advisor compensation models from NerdWallet.
  3. How will we work together? Clarify communication methods and service offerings. Uncover important questions about advisor services with guides like those provided by The Balance.
  4. What are all associated costs? Understand the full spectrum of fees beyond base compensation. Enhance your knowledge of hidden fees through resources such as Forbes.
  5. Are you independent or affiliated with a broker-dealer/wirehouse? Know the limitations of their product offerings. Explore the differences between independent and captive advisors with insights from Investopedia.
  6. Who is your custodian? Gain insight into where your assets are held and associated fees. Understand the role of custodians through resources like The Motley Fool.
  7. What investment fees will I incur? Be clear on all costs impacting your financial success. Delve into different types of investment fees with guidance from the Securities and Exchange Commission (SEC) here.

By asking these questions and leveraging the provided resources, you’ll gain valuable insights into the advisor’s approach and suitability for your financial goals. Remember, thorough due diligence is essential when selecting a financial advisor.

Oakmont Advisory Group – Albuquerque Fiduciary Financial Advisor

To learn more about Oakmont’s unique Retirement Design process, which establishes a personalized financial plan to help you love your retirement, click here to learn more.

Top Financial Advisors in Albuquerque, NM

If Oakmont doesn’t seem a good fit for you, or if you want to interview several advisors before selecting your financial advisor in Albuquerque, we recommend you check out the following Registered Investment Advisory firms:

Need to Talk to a Financial Advisor in Albuquerque Right Now?

If you need to chat with a fiduciary financial advisor about your situation, schedule a 15-minute Chat with a financial advisor at Oakmont. We’re happy to answer your questions and point you in the right direction. Just click here to schedule your chat.

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