Fiduciary & conflict questions
- Will you sign a fiduciary acknowledgment in writing for our entire relationship?
- Are you fee-only or fee-based? (Fee-based includes commissions.)
- Do you receive any 12b-1, revenue-sharing, or referral compensation from any source?
- Do you sell any proprietary products or products of an affiliated company?
- Are there any disclosures on your Form ADV Part 2A or your BrokerCheck record?
Fee & cost questions
- What is the all-in annual cost — advisory fee, fund expense ratio, platform fee, and any other charge?
- What are the breakpoints in your fee schedule as my assets grow?
- Will you bill from the account or invoice me?
- Are planning, tax projection, and ongoing reviews included or billed separately?
Scope & service questions
- What does ongoing service include — quarterly reviews, annual tax projections, RMD coordination, beneficiary review?
- Who is my day-to-day point of contact, and what is their tenure?
- How many client households does each advisor serve?
- What is your average response time on a client email?
Investment philosophy questions
- What is your investment philosophy in one paragraph?
- Do you use index funds, active funds, individual securities, or a mix — and why?
- How do you decide on asset allocation and rebalancing thresholds?
- How do you handle tax-loss harvesting and asset location?
Track record & process questions
- How long has your firm been in business and through which market cycles?
- What is your client retention rate over the last five years?
- Can I speak to two or three current clients with situations similar to mine?
Tax & planning coordination
- Do you coordinate directly with my CPA and estate attorney?
- Do you produce annual tax projections and Roth conversion modeling?
- How do you handle estimated tax payments and year-end planning?
What if I want to leave?
Educational only. This article is for general education and is not individualized investment, tax, or legal advice. Consult a qualified fiduciary advisor and your tax professional before acting on any strategy discussed here.
About the author
Stephen Arnold
Founder & CEO of Wealth Protection Advisory. Pension and retirement planner with 20+ years advising small business owners. Creator of the Designer DB Plus® strategy and author of Designer DB Plus® Game-Changing Tax Reduction & Retirement Strategy.