Questions to Ask of a Potential Advisor

What are 10 Questions to ask of a potential advisor?

The Certified Financial Planning Board has published ten questions to ask before establishing a relationship with a financial planner.


Listen and evaluate

The Melone Private Wealth Advantage

1) What experience do you have?

Financial planner’s work experience as it relates to their current practice

Our team has over 20 years experience in financial planning.

2) What are your qualifications?

Credentials and how the planner stays up to date with current changes and developments in the financial planning field

Lou Melone is a CERTIFIED FINANCIAL PLANNER™ professional.

Additionally, please see Lou’s biography to learn more about him on our Associates page.

3) What financial planning services do you offer?

Licenses and credentials as generally, financial planners cannot sell insurance, or securities products without proper licenses.  And they cannot give investment advice unless registered with state or federal authorities.

Portfolio management, wealth planning, risk management, and estate management

4) What is your approach to financial planning?

Make sure you understand and agree with the planner’s investment philosophy

We believe in behavioral investment principles and our clients join the ark of pursuing financial independence when they join our firm
5) What types of clients do you typically work with?

Some planner’s want client’s to have a certain amount of assets or net worth

Our ‘Cup of Coffee and a Second Opinion’ approach is designed to make sure our clients and our firm are a good fit.

6) Will you be the only financial planner working with me?

Some financial planners work directly with their clients, others have a team of people.  Make sure you know who you will work with and understand who if any outside professionals you might work with and be sure to check their backgrounds.

Our clients work directly with Lou Melone who owns the firm. Our team of professionals have been thoroughly vetted and we are happy to supply their names to you.

7) How will I pay for your financial planning services?

Planners can be paid in several ways: fees, commissions or a combination of both.

Please contact Lou for our compensation model.

8) How much do you typically charge?

The financial planner should be able to provide you with an estimate of possible costs based on the work to be performed.  Costs should include the planner’s hourly rates, or flat fees, or the percentage of commission received on products you may purchase

We disclose our fees up front.

9) Do others stand to gain from the financial advice you give me?

The planner should provide you with a description of his or her conflicts of interest in writing.

CFP® professionals abide by a strict code of professional conduct and have an ethical obligation to put your needs first when providing financial planning advice. We are a fiduciary and therefore act in the best interest of our clients at all time.

Melone Private Wealth adheres to the Fiduciary Standard.

10) Have you ever been publicly disciplined for any unlawful or unethical actions in your career?  

The financial planner should be able to provide you with the organizations he or she regulated by so you can contact these groups for a background check.

Our financial planners have not been disciplined for any actions.