How to Write Sample Questions for a Financial Supervisor

Getting great financial advice could mean a difference of hundreds of thousands of dollars for your family's financial future. Having sample questions prepared in advance can help you determine whether the financial adviser you're working with has the same goals, priorities and concerns that you do. Some advisers are trained simply to make sales and are more concerned with getting a commission than with putting you in the best financial position possible. Each question needs to help you establish trust, or send you out the door before making a bad commitment.

• 1

  Ask him about his qualifications. This should include his education, years of experience, how many clients he serves and how many assets are under his management. Obviously, the better his credentials, the safer you can feel about his planning your financial future.

• 2

  Have the adviser explain what services she offers and who else will be working with her on your plan. Depending on what services you approve, the adviser may partner with an insurance agent or a loan officer. Get the names and contact information of the other agents with whom you'll potentially be dealing. You may want to ask them a few questions as well, because they are licensed to work in those particular areas. Usually, the more services the adviser has at her disposal to deal with asset protection, debt elimination and investments, the better.

• 3

  Find out where the adviser wants to place your assets. Roth IRAs, 401k's and other qualified plans can make a difference of up to 15 percent in after-tax wealth when you retire. See if your adviser is aware of how the income on various investments will be taxed.

• 4

  How will the adviser help you get out of debt faster? Some advisers won't even ask about your debt because they don't have a vested interest in getting you debt-free. The more money that goes toward your investments, the higher their commission. Depending on interest rates, your debt could be costing you more than your investments earn.

• 5

  What kind of life insurance is your adviser recommending? Permanent, also called cash value, insurance offers a higher commission to the adviser, but is costlier for the consumer. Particularly if you're lower-middle to upper-middle income, you need term life insurance, which offers more coverage at bargain premiums for a specified period of time. Check if the adviser is getting you the amount of coverage you need to replace your income for eight to 10 years should something happen to you or your spouse.

• 6

  How much do you charge? How much will that cost? Can I get that in writing? These are questions you should ask throughout the process. Before signing up for each service offered, find out what fees are involved. This is the only way to know whether you're getting a good deal and will ensure you are not surprised by a bill later.