Investment advisors or brokers must ask many personal questions to understand their clients’ goals, needs, and their attitude toward risk-taking and capital preservation. These financial professionals quickly discover more details about their wealthy clients’ lives than they really may wish to know. Only a pastor, priest, rabbi or psychiatrist hears the same level of intimate information of family life: The sad events and the happy occasions, the divorces, the marriages, and the fights over money all happen on the advisor’s watch. Throughout, advisors must maintain an even hand, avoid taking sides, and make their clients’ money grow. Clients and their families depend on that investment advice to stay rich.
So you must know who you are dealing with before divulging all your personal information. The linked Questions to Ask an Investment Advisor or Broker is a key document in your due diligence process. It should be completed by all investment advisors or brokers you wish to employ. If they balk at the task, then rest assured they are not the investment professional for you.
Disclaimer:
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