When people hire a financial planner or an IFA/ RIA most of the times they do not know what to expect. Most of the advisers too do not tell them what they should expect. This is not a good situation for a good relationship to develop….so go and ask him this….
- Which is your best communication mode? – sms, phone, FB messanger, wassup, …and how much is your TAT?
- Will you immediately respond and calm me? I may be worried about something silly, but I do not know it is silly!
- How often will YOU communicate with me?
- Will you have my portfolio in front of you in a jiffy for me to ask you or will I have to send it to you?
- Is there any website you own or like where I can maintain my portfolio and share my login and pw with you?
- How often will you monitor my portfolio and talk to me about it – maybe say ‘no action is needed’?
- Will you communicate with me for all things or will you have some assistant assigned to me?
- Is there any time for us to communicate or should I just call you on your cell?
- I assume that when some of my funds are not doing well and action has to be taken YOU WILL CALL ME
- If you maintain my portfolio will you give me a login and pw so that I can have a look at it when I want?
- If there are products that are good for me (our joint view) will you help me execute EVEN if you do not have them?
- When I wish to shift from a remunerated asset (mutual fund) to a non-remunerated asset (real estate) is there a conflict?
- When I need capital gains statements for my tax purposes, will you send it to me automatically?
- How do I compensate you for the direct shares advice? I know you are not a broker
- If you are not registered with a fund house with whom I wish to deal – how will you handle the compensation?
- My wife likes to read things slowly, so I would love all communication to be in writing on email – is this too much to ask?
well, there are more, but will let you handle these 16 for now!!
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