This week we continue to explore investing fears. For some, they know that they need a financial advisor, but they feel intimidated when thinking about meeting one. That could be because they have no idea what to ask during the meeting. While the financial advisor will guide the conversation, you want to make sure they address your questions and concerns. Here's a checklist for the first meeting and subsequent meetings.
Once you have selected the right advisor, it's important that you meet at least once per year. It does not need to be an in-person meeting. However, you must let your advisor know about any significant life changes so she can recommend any relevant adjustments to your strategy.
To prepare for your annual review, think back over the last year. Have you had any significant life changes that could impact your plan? Do you need to update your beneficiaries on your accounts? If so, have that information available at your appointment.
Do you have other accounts that your financial advisor does not manage? Bring your statements so your advisor can make sure your overall portfolio is aligned with your goals.
Make a list of any specific questions you want to ask and have the list available when you talk to your advisor.
Over time, as you meet with your financial advisor regularly, you will naturally feel more comfortable. If you don't, that's a red flag that you're not working with the right person.
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Other related posts in our series about facing your investment fears:
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