Whether you dream of retiring early or traveling the world, the right wealth management professional can be vital in achieving your goals. Because so much depends on the financial planner you choose, it’s best to meet with several trusted providers before making a decision. Asking the questions below will help narrow down your options and ensure you get the professional with the financial expertise you need.

3 Questions to Ask Before Hiring a Financial Planner

1. Can You Describe Your Investment Strategy?

Many wealth management companies claim to have a brilliant strategy that will return eye-popping returns, but those unorthodox approaches rarely meet expectations. Instead, find a financial planner who aims for reasonable returns with a time-tested investment strategy. They should also recommend a diversified portfolio that protects you from severe downturns in particular sectors. You want to ensure that you see growth, but this needs to occur in a way that protects your future interests.

2. Are You a Fiduciary?

Fiduciaries have a legal responsibility to act in the best interests of their clients, even if that means selling products with lower commissions. Wealth management professionals who aren’t fiduciaries, on the other hand, only have to provide suitable products, which may not be the best for your situation. They can attempt to place your money in funds that are risky for the sake of trying to receive a higher commission. Knowing your financial planner has a fiduciary duty to protect your finances provides substantial confidence and peace of mind.

3. What Is Your Fee Structure?

Wealth management providers who work on commission may face conflicts of interest, so it’s best to find an advisor who works on a fee-only basis. You want your wealth management consultant to be focused on your interests as opposed to their own. Some might charge a percentage of the assets they manage, while others might work for an hourly or flat fee. Whatever the structure, make sure you understand the costs before signing on with a financial planner.

Combining the traditional elements of wealth management with cutting-edge technology, Sage Wealth Planning offers a streamlined process designed to make investing as simple as possible. They provide customizable service packages to clients throughout the St. Louis, MO, area, and will give your finances the dedicated attention you deserve. Visit their website to learn more about their unique approach to financial planning, or call (314) 301-9812 to make your first appointment today.