How to Break the Ice
You'll probably be asked in advance to submit a profile and answer a questionnaire about yourself. Once you arrive at an adviser's office, however, take charge firmly but politely. Even if you're upset because the misjudgments of some other financial outfit cost you a bundle, don't come across as belligerent. And even though fees and charges are important, haggling rubs many advisers the wrong way. Use these icebreakers:
Q: Here's my situation. Any ideas on how to fix it? Ask how the adviser has handled similar situations.
Q: How will we work together? How long will it take to develop a plan and put it into effect?
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Q: What is your policy regarding phone calls, e-mails, or just sounding off about the awful stock market? Some advisers like to chat, while others will ask you to make an appointment or have a quarterly sit-down.
Q: What's your investment philosophy? Some advisers swear by index funds. Others want you to hand over your money for professional management, often in a RwrapS or separately managed account for a percentage fee. You need to agree on who has the final say.
Q: What's your procedure for telling me how I'm doing? Some advisers have access to extensive asset-allocation and risk-assessment software, such as LPL's WealthVision, which measures your holdings every night and compares them with your benchmarks. Others have less-sophisticated programs.
But this isn't a software arms race. You want to be taken seriously and given time and courtesy in exchange for your money, plus a road map to solving a problem or retiring richer.
-
What Is a Qualified Charitable Distribution (QCD)?Tax Breaks A QCD can lower your tax bill while meeting your charitable giving goals in retirement. Here’s how.
-
Embracing Generative AI for Financial SuccessGenerative AI has the potential to reshape how we approach learning about and managing our personal finances.
-
Best Banks for High-Net-Worth Clients 2024wealth management These banks welcome customers who keep high balances in deposit and investment accounts, showering them with fee breaks and access to financial-planning services.
-
Stock Market Holidays in 2024 and 2025: NYSE, NASDAQ and Wall Street HolidaysMarkets When are the stock market holidays? Here, we look at which days the NYSE, Nasdaq and bond markets are off in 2024 and 2025.
-
Stock Market Trading Hours: What Time Is the Stock Market Open Today?Markets When does the market open? While the stock market does have regular hours, trading doesn't necessarily stop when the major exchanges close.
-
Bogleheads Stay the CourseBears and market volatility don’t scare these die-hard Vanguard investors.
-
The Current I-Bond Rate Until May Is Mildly Attractive. Here's Why.Investing for Income The current I-bond rate is active until November 2024 and presents an attractive value, if not as attractive as in the recent past.
-
What Are I-Bonds? Inflation Made Them Popular. What Now?savings bonds Inflation has made Series I savings bonds, known as I-bonds, enormously popular with risk-averse investors. So how do they work?
-
This New Sustainable ETF’s Pitch? Give Back Profits.investing Newday’s ETF partners with UNICEF and other groups.
-
As the Market Falls, New Retirees Need a Planretirement If you’re in the early stages of your retirement, you’re likely in a rough spot watching your portfolio shrink. We have some strategies to make the best of things.
