1. Do you have experience in providing advice on the topics below? If yes, indicate the number of years.
• Retirement planning
• Investment planning
• Tax planning
• Estate planning
• Insurance planning
• Integrated planning
• Other
2. What are your areas of specialization? What qualifies you in this field?
3. How long have you been offering financial planning advice to clients?
• Less than one year
• One to four years
• Five to 10 years
• More than 10 years
b. How many clients do you currently have?
• Less than 10 clients
• 10 to39
• 40 to79
• 80 +
4. Briefly describe your work history.
5. What are your educational qualifications?
Give area of study.
• Certificate
• Undergraduate degree
• Advanced degree
• Other
6. What financial planning designation(s) or certification(s) do you hold?
• Certified Financial Planner (CFP)
• Certified Public Accountant-Personal Financial Specialist (CPA-PFS)
• Chartered Financial Consultant (ChFC)
• Registered Financial Planner (RFP)
• Others
7. What financial planning continuing education requirements do you fulfill?
8. What licenses do you hold?
• Insurance
• Securities
• Mutual Funds
• Others
9. What services do you offer?
10. Describe your approach to financial planning.
11. Who will work with me?
• Planner
• Associate(s)
b. Will the same individual(s) review my financial situation?
• Yes
• If no, who will?
12. How are you paid for your services?
• Fee
• Commission
• Fee and commission
• Salary
• Other
13. What do you typically charge?
a. Fee:
• Hourly rate Php _________
• Flat fee (range) Php _________ to Php_________
• Percentage of assets under management _________ percent
b. Commission:
What is the approximate percentage of the investment or premium you receive on:
• stocks and bonds _________
• mutual funds _________
• annuities _________
• insurance products ________
• other _________
14. Do you have a business affiliation with any company whose products or services you are recommending?
• Yes
• No
Is any of your compensation based on selling products?
• Yes
• No
Do professionals and sales agents to whom you may refer me send business, fees or any other benefits to you?
• Yes
• No
Do you have an affiliation with a broker/dealer?
• Yes
• No
Are you an owner of, or connected with, any other company whose services or products i will use?
• Yes
• No
15. Do you provide a written client engagement agreement?
• Yes
• If no, why not?
Guest Post by:
Alijeffty C. Gonzales, CIS, RFP
ACG Advisors and Management Limited Co.
July 31st, 2007 at 4:50 pm
Are there financial planners for the middle class or do we just have to rely on self-help guides and stuff? I can just imagine planners expect their clients to be millionaires, or someone who’s just about getting there.
July 31st, 2007 at 4:41 am
What to Look for in a Financial Adviser by Suze Orman
http://finance.yahoo.com/expert/article/moneymatters/40578
July 28th, 2007 at 1:42 pm
Hi jeff,
I have no problem with that if you were my Financial Planner. I just wanna make sure my questions are all answered before I get a professional to work for me. It also helps to get other professionals’ opinions or at least browse the net like this..
http://www.aarp.org/money/financial_planning/sessioneight/what_questions_should_you_ask.html
“Client References”
Some financial professionals are willing to provide you with a list of clients who are willing to vouch for them. Some may not be able to do so due to privacy concerns. If you are able to speak to a current or past client of this professional, questions you can ask a client include:
How long have you worked with this professional?
Are you satisfied with his or her services?
What are the professional’s strengths and weaknesses?
How often do you hear from your professional regarding your situation?
How quickly are your calls returned?
Would you recommend this professional to a family member?
In closing, remember that a productive relationship with a financial professional depends on good communication—and your interview process is the first step on that important road. As you ask your questions, take note of the professional’s demeanor. Does he or she welcome your questions or seem irritated by them? Are you comfortable with how information is exchanged? It’s important that after the interview that you feel all your questions were fully and honestly answered. After all, this could be the professional you will be looking to for help planning your financial future.
July 28th, 2007 at 5:32 am
hi dinno,
on investment and performance:
a 43 year old planner like myself would have a different set of goals as compared lets say to a 30 year old call center supervisor who just got married, i would probably have a higher level of risk tolerance and would not hesitate to take a position in a third liner listed stock, i have a comfortable current cash flow balance so i won’t mind the inherent immediate volatility of these types of securities, while our call center guy is just discovering the intricacies of financial planning after he accidentally stumbled into salve’s blog. do you think it would be right to “recommend” to him to put his money on the same third liner stocks i have without first clarifying his goals, risk tolerance, investment objectives etc?
while i agree with you that “credibility” can be established by knowing if a planner has money where his mouth is, using investment performance as a benchmark might lead to a situation wherein the planner might unconsciously suggests higher yielding (higher risk) instruments even if these are not suitable to a client.
Hi scud,
if you were my client i would have in my possession your list of assets and liabilities, your income and expense patterns, your objectives, your investments etc.. would you allow me to use these to get new clients?
thanks,
July 27th, 2007 at 9:03 pm
Is it improper to ask a Financial Planner for the names of their past and present clients?