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Questions to ask a financial professional prior to working with them . . .
1. What experience do you have?

2. What are your qualifications?

3. What services do you offer?

4. What is your approach to financial planning?

5. Will you be the only person working with me?

6. How will I pay for your services?


 Questions to ask a financial professional . . .
 1. What experience do you have?   (back to questions)
     Find out how long the professional has been in practice and the number and types
     of companies with which he has been associated.  Ask him to briefly describe his/
     her work experience and how it relates to his current practice.  Choose a financial
     professional who has experience counseling individuals on topics specific to your
     financial needs.

 2. What are your qualifications?   (back to questions)
     Ask the professional what qualifies him/her to offer financial advice.  Look for a
     professional who has proven experience in financial topics such as insurance, tax
     planning, investments, estate planning or retirement planning.  Determine what
     steps the professional takes to stay current with changes and developments in the
     financial field.  If the professional holds a financial planning designation or
     certification, check on his background with FINRA (www.finra.org) or other relevant
     professional organizations.
 3. What services do you offer?   (back to questions)
     The services a financial professional offers depend on a number of factors including
     credentials, licenses and areas of expertise.  Generally, financial professionals
     cannot sell insurance or securities products such as mutual funds or stocks without
     the proper licenses, or give investment advice unless registered with state or
     Federal authorities.  Some professionals offer financial planning advice on a range
     of topics but do not sell financial products.  Others may provide advice only in
     specific areas such as estate planning or tax matters.

 4. What is your approach to financial planning?   (back to questions)
     Ask the financial professional about the type of clients and financial situations he/
     she typically likes to work with.  Some professionals prefer to develop one plan by
     bringing together all of your financial goals.  Others provide advice on specific
     areas, as needed.  Make sure the professional's viewpoint on investing is not too
     cautious or overly aggressive for you.  Some professionals require you to have a
     certain net worth before offering services.  Find out if the professional will carry
     out the financial recommendations developed for you or refer you to others who
     will do so.

 5. Will you be the only person working with me?   (back to questions)
     The financial professional may work with you himself or have others in the office
     assist him. You may want to meet everyone who will be working with you.  If
     the professional works with others outside his own practice (such as attorneys,
     insurance agents or tax specialists) to develop or carry out recommendations,
     get a list of their names to check on their backgrounds.

 6. How will I pay for your services?   (back to questions)
     The financial professional should clearly tell you how he/she will be paid for the
     services to be provided.  The following are a few example:

       - A salary paid by the company for which the professional works. The
         professional's employer receives payment from you or others, either
         in fees or commissions, in order to pay the professional's salary.

       - Fees based on an hourly rate, a flat rate, or on a percentage of your
         assets and/or income.

       - Commissions paid by a third party from the products sold to you to carry
         out the recommendations. Commissions are usually a percentage of
         the amount you invest in a product.

       - A combination of fees and commissions whereby fees are charged for the
         amount of work done to develop financial recommendations and commissions
         are received from any products sold.  In addition, some professionals may
         offset some portion of the fees you pay if they receive commissions for carrying
         out their recommendations.