Jill Mollner, MBA, CFP®
Wealth Advisor, RJFS
Branch Operations Manager, CFS
You’ve worked hard for your money and choosing who to trust with your finances is a big decision. Finding the best financial advisor might seem intimidating at first, but it doesn’t have to be.
Here are 7 questions to ask when interviewing potential advisors:
1. What services can I expect?
While some advisors only offer basic investment planning, we cover all 5 areas of wealth management, so nothing falls through the cracks.
The 5 areas of wealth management are:
- Investment Management
- Risk Management
- Retirement Planning
- Estate Planning
- Tax Planning Strategies
2. What type of education, accreditations and licenses do you have?
Most people think all financial planners are “certified,” but the fact is anyone who is licensed to sell these products and give advice can use the title “financial planner.” The wealth advisors at Cornerstone Financial Solutions have committed to hold the CFP® (Certified Financial Planner) designation or be working to complete the rigorous certification process.
The CFP® designation is considered the standard of excellence in financial planning, requiring a college degree. CFP® professionals have developed theoretical and practical knowledge by completing demanding education, examination, experience, and ethical requirements, and agree to continued monitoring and continuing education.
3. How long have you been in business?
Most people only retire once in their life, but through helping our clients, our team has essentially retired thousands of times. It is easier to avoid a mistake than correct one, so let us provide our knowledge and lessons we have learned over the years (140 years combined team experience and 30 years in business) to help you.
4. How many people are on your team?
Team-based wealth advice offers many advantages over a solo-advisor approach. More advisors and team members mean having access to a broader scope of knowledge, expertise, capabilities, and service offerings, and you won’t lose years of valuable planning to someone you don’t know.
5. Are you a fiduciary?
Advice from our advisors is conflict-free and is never related to the possibility of earning a potential commission. Acting in a fiduciary capacity, our advisory clients’ best interests are always at the center. We don’t offer products designed to generate unnecessary or excessive fees. Our advisors offer comprehensive financial planning and make investments that are consistent with your risk tolerance and goals.
6. What are your fees?
We believe in full transparency and full disclosure – especially when it comes to fees. At Cornerstone Financial Solutions, we offer mostly fee-based planning. Simply put, we are on the same side of the table as you, we participate in the gains, and we participate in the losses. When you do well, we do well.
7. What is your succession plan?
A succession plan ensures that a business can continue to run smoothly after an important role becomes vacant. At Cornerstone, we have an internal, built-in succession plan so that any transition will be smooth.
When choosing a wealth advisor, you are likely starting what will be a life-long relationship. You will be sharing personal details about your financial situation, dreams, and goals, so it’s important to work with someone you trust and feel comfortable with.
We’ve created a guide, “How to Choose a Wealth Advisor,” to empower people like you, who want to dream big, build wealth, and lead a life of impact. The guide includes a full list of questions and considerations to use when interviewing advisors. Download the guide or call our office at 605-357-8553 to request one.
I’d love to visit with you about your dreams. Feel free to contact our office at 605-357-8553 or firstname.lastname@example.org.