Questions to Ask Your Advisor

Choosing a Financial Advisor is a big decision. It’s imperative you feel comfortable with the beliefs and options of your investment firm. Here are a few questions to ask your Investment Professional.

Are they a fiduciary?

Being a fiduciary means having to put your best interest first.  While we think that everyone working with money should have to be a fiduciary, it's not the case.  Some products pay advisors BIG upfront commissions and the "advisor" isn't obligated to ever speak to the client again.  At True Wealth Advisors Group we are fiduciaries and have put our clients best interests first for many years.

How long have they been in the financial services industry?

Experience is important in this industry.  You are relying on someone to help make some of the biggest financial decisions you will make in your life. The advisors at True Wealth Advisors Group have decades of experience in the financial advisory industry.

 

Have they ever been suspended by a regulatory agency?

No one at True Wealth Advisors Group has ever been suspended or penalized by a regulatory agency.

 

How do they get paid?

At True Wealth Advisors Group we are compensated through money management fees or commissions (based entirely on the actions taken by our clients and on the recommendations made by the advisor and other team members).  We work hard to have a level compensation schedule so that our clients know that our decisions are never made based on the level of compensation that we will received. An initial consultation is free of cost and obligation. Our asset management services range from a high of 1.25% of AUM down to 0.41% depending on your level of assets. 

 

Are they obligated to sell any propriety products?

The advisors at True Wealth Advisors Group are independent and do not sell any proprietary products.  They can select from a wide array of investment options to meet the clients financial needs.

Will there be penalties or surrender charges on your investments and for how long?

Some products have holding periods that need to be met in order to avoid penalties.  Being aware of this can help you to make sure that you have enough money in other types of accounts that are more liquid so that you aren't penalized for withdrawing money if you need it.  Our managed money solutions have no surrender period or charges.

 

How will you be kept informed and what ongoing service will you receive?

Our Advisors and staff proactively review each client’s portfolio on a regular basis.  We like to have a minimum of an annual in person review and we are on call to answer any questions you have and to meet with you more often, if requested.  We also send out periodic market updates via email, have various events throughout the year, and notify clients of changes within the industry that may affect them.

What asset allocation will you use?

You’ve heard how important it is to be diversified, right? Your asset allocation is how you create a diversified portfolio. You will likely want to make sure that you are diversified geographically, as well as by company size and/or sector.  Our advisors use industry leading risk software that helps to allocate your hard earned money into investments suitable for you.

Who is your custodian?

Ideally, your financial advisor has hired an independent custodian, such as a brokerage, to hold your investments, rather than act as his or her own custodian.  This provides an important safety check so that you know there is third party auditing your account on a regular basis and all of your numbers are correct.  True Wealth Advisors uses only independent third party custodians.

What’s your investment philosophy?

It’s important to ensure you agree with the investment philosophy you will be implementing. You have to believe in what they’re doing to stick with it when markets go down so that you don’t sell at the bottom of a market cycle.  Not only do we have best in class investment options but we have several different investment philosophies to cater to most people.

How will I know if I'm on track to meet my goals?

Will you have a financial plan that illustrates the likely outcome of your financial decisions?  Putting money into an investment account is a good place to start, but if you don't have good projections, you may not be happy when it's time to start taking withdrawals. All of our clients get a financial plan that includes, all investment accounts, Social Security, Pensions, Real estate, and about anything else you can think of.

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