Checklist for Interviewing a Financial Planner

Print this checklist and use it when you are interviewing a financial planner.

Planner's Name:

Company:

Address:

Phone:

Date:

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. a. 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 to 39
* 40 to 79
* 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(tm) or CFP(r)
* Certified Public Accountant-Personal Financial Specialist (CPA-PFS)
* Chartered Financial Consultant (ChFC)
* Other

7. What financial planning continuing education requirements do you fulfill?

8.What licenses do you hold?

* Insurance
* Securities
* CPA
* J.D.
* Other

9. a. Are you personally licensed or registered as an investment adviser representative with a state(s)?:

* Yes
* No

If no, why not?

b. Are you or your firm licensed or registered as an investment adviser with the:

* State(s)?
* Federal Government?

If no, why not?

c. Will you provide me with your disclosure document Form ADV Part II or its state equivalent?

* Yes
* No

If no, why not?

10. What services do you offer?

11. Describe your approach to financial planning.

12. a. Who will work with me?

* Planner
* Associate(s)

b. Will the same individual(s) review my financial situation?

* Yes
* No

If no, who will?

13. How are you paid for your services?

* Fee
* Commission
* Fee and commission
* Salary
* Other

14. What do you typically charge?

a. Fee:

Hourly rate $ _________

Flat fee (range) $ _________ to $ _________

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 _________

15. a. Do you have a business affiliation with any company whose products or services you are recommending?

* Yes
* No

Explain:

b. Is any of your compensation based on selling products?

* Yes
* No

Explain:

c. Do professionals and sales agents to whom you may refer me send business, fees or any other benefits to you?

* Yes
* No

Explain:

d. Do you have an affiliation with a broker/dealer?

* Yes
* No

e. Are you an owner of, or connected with, any other company whose services or products I will use?

* Yes
* No

Explain:

16. Do you provide a written client engagement agreement?

* Yes
* No

If no, why not?

Provided by the Certified Financial Planner Board of Standards'. For more information, visit cfp.net.

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Finance

Checklist for Interviewing a Financial Planner