18 Questions to Ask a Wealth Manager (And What Their Answers Might Reveal)

Choosing the right wealth manager can have a lasting impact on your financial future. As you evaluate potential advisors, it’s important to ask the right questions to determine whether their approach aligns with your goals. Use the following questions during your search to assess whether each candidate can provide the level of financial planning and stability you’re seeking—so you can focus on enjoying the life you’ve worked hard to build.

18 Questions to Ask a Wealth Manager

If you’re considering working with a financial advisor, asking the right questions can help you better understand their approach and whether it aligns with your financial planning needs. A thoughtful conversation can offer valuable insight into how a wealth manager operates and how their strategy may support your long-term goals. The following questions are important to consider when evaluating a potential advisor.

1. What Services Do You Offer?

When meeting with a potential wealth manager, one of the most important questions to ask is about the range and depth of services they provide. This is especially important for high-net-worth and ultra-high-net-worth individuals, whose financial needs often go far beyond basic investment advice.

Start by exploring whether their approach includes comprehensive wealth management or is primarily focused on investment management alone. An experienced wealth manager should be able to handle more than just portfolio performance. They should demonstrate fluency in retirement planning, estate planning, tax strategy, and cash flow management. These areas work together to support your financial security and long-term goals.

If you own a business, receive substantial income from real estate, or are navigating a major life event—such as a business exit or inheritance—ask about their familiarity with such scenarios. A strong advisor will either have the expertise in-house or be able to connect you with specialists who do. In many cases, successful partnerships include collaboration between your wealth manager, tax professional, estate attorney, and other financial advisors to ensure a cohesive plan.

For individuals who want to better understand financial markets or improve their investment literacy, it’s also worth asking whether the advisor provides financial education or resources to help you make informed decisions. A wealth manager who takes time to explain their strategy can help you build confidence and stay aligned with your long-term objectives, especially during market volatility.

Ultimately, the right wealth manager should not only offer services that fit your current financial picture but also evolve with you as your situation changes. Whether you’re aiming to preserve wealth, grow your portfolio, minimize taxes, or plan for future generations, their services should be structured to support you at every stage. If their offerings are too limited or overly generic, they may not be the right fit for a high-net-worth individual seeking tailored, private wealth management.

2. What Is Your Philosophy About Active Management?

As you evaluate a wealth manager, understanding their investment philosophy—particularly regarding active management—is crucial. While this question may seem technical, it reveals how your potential advisor approaches portfolio growth, risk, and long-term performance.

Active management refers to a strategy where the wealth manager or portfolio manager aims to outperform market benchmarks by making frequent investment decisions. This includes buying and selling securities based on market trends, economic analysis, and occasionally even intuition. In contrast, a more strategic or passive approach focuses on long-term asset allocation and diversification, with fewer trades and typically lower portfolio turnover.

Why does this distinction matter? Primarily because of the cost and risk associated with active management. Managers who actively trade usually charge significantly higher fees—often around 1% or more of the assets under management. By comparison, a more strategic or passive approach may cost 0.2% or less. Over time, these fee differences can significantly impact your portfolio’s net performance.

More importantly, to justify those higher fees, an active manager must consistently outperform both the market and lower-cost alternatives. However, research shows that this is difficult to achieve over extended periods, even for seasoned professionals. For high-net-worth individuals, these added costs can quietly erode returns—especially when paired with increased tax consequences from frequent trading.

Ask your wealth manager how much of your portfolio they expect to allocate to active strategies versus more stable, strategic management. If they lean heavily into active trading, request performance data that reflects after-fee, after-tax results over a multi-year period.

Understanding their investment philosophy helps you determine if their approach aligns with your own goals, risk tolerance, and expectations for long-term wealth preservation. In most cases, high-net-worth investors benefit from a disciplined, cost-efficient strategy that grows wealth sustainably rather than trying to beat the market through constant activity.

3. How Much Do You Charge?

Knowing how a wealth manager or financial advisor charges for their services is essential—both for managing expectations and for ensuring their interests are aligned with yours. The structure of their fees will influence not just how much you pay, but also the type of advice and service you receive.

Some wealth managers work on a fee-only basis, charging a fixed annual fee or a percentage of your assets under management. This model is often preferred by high-net-worth individuals because it reduces potential conflicts of interest. Advisors working under a fee-only structure aren’t incentivized to push specific financial products or services—they’re paid solely to manage your wealth effectively, whether that includes equities, government and corporate bonds, or alternative assets such as hedge funds or private equity.

If an advisor charges a percentage of your portfolio’s value, their compensation increases as your wealth grows. In theory, this encourages them to focus on long-term portfolio performance. But it’s still important to ask what specific services are included in that percentage and whether any additional fees apply for things like estate planning, insurance products, or private investments.

Some advisors also work under a commission-based model, where they earn money from selling particular investment or insurance products. In these cases, it’s important to ask whether the products being recommended are the best fit for your financial goals—or simply the most lucrative for the advisor. A commission-based structure doesn’t necessarily mean the advisor isn’t acting in good faith, but it does warrant a closer look at their recommendations.

For ultra-high-net-worth investors, whose portfolios often exceed $5 million or more, there may be flexibility in negotiating fee structures. Many firms offer tiered pricing where fees decrease as assets grow. This can be especially important for clients with complex financial needs who require more personalized portfolio management, tax planning, and estate strategies.

When reviewing a wealth manager’s compensation model, ask for a detailed breakdown of all fees—both visible and hidden. This includes trading costs, fund expense ratios, custody fees, and any charges tied to third-party services.

Ultimately, the goal is to work with someone who operates with full transparency, avoids unnecessary costs, and builds a fee structure that supports—not hinders—your long-term financial goals.

4. What Are Your Qualifications?

When selecting a wealth manager or financial advisor, their qualifications go beyond titles—they offer insight into their competence, professionalism, and ability to navigate the complexities of wealth management for high-net-worth individuals.

A key credential to look for is the Certified Financial Planner (CFP®) designation, which indicates broad expertise in financial planning, investment management, tax strategies, and retirement planning. Additional designations like Chartered Financial Analyst (CFA®) or Certified Public Accountant (CPA®) also signal specialized knowledge in areas such as portfolio construction, securities analysis, and tax compliance.

In today’s dynamic financial landscape—where investment strategies, tax laws, and market conditions are constantly evolving—your advisor should demonstrate a commitment to ongoing education. A strong qualification is not just earned once; it’s maintained through continuous learning and real-world application.

Equally important is experience. Ideally, your wealth manager should have at least a decade of experience working with high-net-worth or ultra-high-net-worth clients. Long-term experience managing portfolios through economic cycles—including downturns—can offer assurance that your advisor understands how to preserve and grow wealth under a range of conditions. Their history should reflect not only performance but also consistency, adaptability, and alignment with clients’ evolving goals.

Ask specifically about their client base and whether they typically work with portfolios similar in size and complexity to yours. An advisor who primarily serves mass-market clients may not be equipped to offer the advanced wealth advisory services needed by investors managing $5 million or more in liquid assets.

It’s also essential to verify their compliance history. Review their background on official regulatory sites such as FINRA’s BrokerCheck or the SEC’s Investment Adviser Public Disclosure database. Any disciplinary actions or legal disputes should be examined carefully—transparency is key.

Beyond certifications and experience, a strong wealth manager should communicate clearly, understand your long-term goals, and demonstrate a client-first mindset. Their ability to explain strategies involving asset allocation, risk management, and estate planning in straightforward terms is a sign of professionalism and trustworthiness.

In summary, your advisor’s qualifications should reflect a blend of formal education, relevant certifications, meaningful experience, and an unwavering commitment to your financial future. These are the foundations of a reliable partnership—one that can support your financial decisions, protect your wealth, and help you achieve your broader life goals.

5. Are You a Fiduciary?

This question is one of the most important you can ask—and the answer should be a clear and confident yes.

A fiduciary is legally and ethically required to act in your best interest at all times. That means every recommendation they make—whether it’s about portfolio allocation, insurance, tax strategies, or estate planning—must be based on what serves you, not them.

Unlike advisors who work under a suitability standard (where suggestions must only be “suitable” but not necessarily ideal), fiduciaries avoid conflicts of interest and must fully disclose fees, commissions, and any potential incentives. If they suggest a particular investment, they’ll explain the cost structure, risks, and how it aligns with your goals.

Working with a fiduciary helps protect you from hidden costs, unnecessary products, and misaligned incentives. You’ll know that your financial future isn’t being shaped by commissions or sales targets—but by a transparent strategy designed specifically around your financial objectives, risk tolerance, and long-term vision.

Answer You Want to Hear:

“Yes. I am legally and ethically obligated to act in your best interest 100% of the time—and I structure my business to support that.”

Answer You Want to Hear: Yes—I am a fiduciary and always act in my clients’ best interest.

6. What Investment Benchmarks Do You Use?

It’s important to understand which benchmarks your wealth manager or financial advisor uses to evaluate the performance of your portfolio. Benchmarks help determine whether your investments are keeping pace with—or exceeding—relevant segments of the market, and they guide strategic decisions over time.

If you’re focused on equities, ask whether your advisor compares performance to major indices such as the S&P 500 (for broad market exposure) or the Dow Jones Industrial Average (for large-cap stocks). For tech-heavy portfolios, the Nasdaq Composite Index may be more appropriate. These comparisons help clarify whether your strategy is outperforming, underperforming, or aligned with current market conditions.

For fixed-income portfolios, a relevant benchmark might be the Bloomberg U.S. Aggregate Bond Index, which represents a wide range of U.S. investment-grade bonds. This is especially important if your holdings include government bonds, corporate bonds, or other fixed-income assets—particularly during times of inflation or economic uncertainty.

If your portfolio includes real estate, your advisor should reference benchmarks like the FTSE NAREIT All Equity REITs Index, which tracks the performance of publicly traded REITs. This allows you to assess how your real estate investments stack up against the broader sector.

Ultimately, benchmarks are not just about numbers—they’re about aligning your portfolio with your financial goals, risk tolerance, and market expectations. A qualified wealth manager will use relevant, up-to-date benchmarks to help fine-tune your investment strategy and ensure your allocation evolves with your needs.

Be sure to ask how these benchmarks are selected, how often performance is reviewed, and how your advisor adapts strategies based on benchmark performance. This insight ensures your wealth is managed with a clear, transparent, and well-informed process.

7. Do You Offer Access to New Tech?

In today’s fast-evolving wealth management landscape, technology plays a critical role in how effectively your investments are managed. Ask your wealth manager whether their firm uses modern tools like financial planning software, portfolio monitoring platforms, and hybrid robo-advisors that combine algorithm-driven insights with personalized advice from human experts.

These technologies aren’t just about convenience—they can improve efficiency, transparency, and access to real-time data that supports better decision-making. For high-net-worth and ultra-high-net-worth individuals, tech-enabled platforms can assist in streamlining complex financial strategies, optimizing tax planning, and adjusting investment allocations more responsively during market changes.

Even if you prefer face-to-face or hands-on engagement with your advisor, it’s important to know whether the firm is leveraging these tools behind the scenes. Technology can enhance how your portfolio is analyzed and adjusted, and how your goals are tracked over time. It can also improve how you collaborate with your advisor, with features like secure document sharing, virtual meetings, or performance dashboards.

Ultimately, firms that stay ahead of technological trends are often better positioned to offer adaptive, data-informed planning that aligns with your long-term financial objectives. A forward-thinking wealth management firm will know how to use tech without replacing the value of human expertise—giving you the best of both worlds.

8. What Are the Best Options?

When evaluating the best investment options with a wealth manager, the conversation should go beyond chasing returns—it’s about balancing liquidity, risk tolerance, and long-term security. One of the most important roles of a wealth manager is helping you structure a portfolio that adapts to both your current needs and future financial goals.

Your advisor should be able to distinguish between short-term liquidity needs—such as cash reserves for emergencies—and long-term objectives like retirement planning or legacy building. Liquid assets, such as savings accounts or money market funds, offer flexibility and easy access, which are essential for handling unexpected events. Meanwhile, long-term investments—like retirement accounts, real estate, and select private market opportunities—may be illiquid but offer potential for growth and tax advantages.

A strong wealth manager will guide you through diversification across asset classes, including government bonds, corporate debt, and alternatives such as hedge funds or private equity, depending on your financial capacity and risk profile. They’ll help ensure that each component of your portfolio serves a clear purpose: whether it’s capital preservation, income generation, or long-term appreciation.

The best wealth advisory services will not just suggest a one-size-fits-all plan. Instead, they’ll tailor your investment strategy based on your personal timeline, lifestyle goals, and sensitivity to market fluctuations. This includes reassessing your allocation as markets shift or as your life circumstances change.

Ultimately, the “best” investment options are the ones that align with your financial priorities, reduce unnecessary risk, and support a broader, well-planned wealth management strategy that evolves with you.

9. Which Custodian Do You Use?

Asking which custodian a wealth manager uses is more than a procedural question—it’s a critical part of assessing how your assets will be safeguarded. The custodian plays a central role in holding and protecting your investments, whether you’re working with traditional securities like government or corporate bonds, mutual funds, or more complex alternatives such as hedge funds.

Begin by asking who the custodian is and what safeguards they provide. Security and regulatory compliance should be non-negotiables, particularly for high-net-worth investors who rely on the safety of their capital and access to their accounts without disruption. Find out whether the custodian has a clean track record, what protocols they follow for fraud prevention, and how they manage account privacy and cybersecurity.

Equally important is the custodian’s fee structure. While custodian fees may not be the largest line item in your financial strategy, they can affect your portfolio’s long-term performance—especially when compounded over years. Ask your advisor for a transparent explanation of all fees related to custody, including maintenance, transaction, and wire transfer costs.

Lastly, look at technology and accessibility. A reputable custodian should provide a secure digital platform where you can easily monitor your portfolio, view transaction history, track performance in real time, and access essential financial reports. Advisors using custodians like Charles Schwab, Fidelity, or Pershing often offer more robust client tools and mobile account access that support your ability to stay informed and engaged with your investment portfolio.

The custodian your advisor chooses should support your broader wealth management strategy, not limit it. Their systems, pricing, and service quality should align with your expectations for transparency, security, and efficiency.

10. How Often Should You Review and Refresh Your Financial Strategy?

In the field of wealth advisory services, regularly reviewing your financial strategy is essential to ensure it continues to reflect your goals, life changes, and evolving market conditions. For most individuals seeking high-net-worth wealth management, an annual review with a wealth manager is generally recommended. This cadence allows you to assess whether your portfolio still aligns with your current risk profile, investment priorities, and long-term financial objectives.

However, more frequent check-ins may be warranted—especially for private wealth management firms working with clients navigating major life events or economic shifts. These can include significant changes in income, business ownership, estate structures, or tax legislation. During such moments, periodic strategy updates can help optimize investment allocations, capture tax-efficient opportunities, and strengthen retirement planning efforts.

If your portfolio includes diverse assets such as real estate, government bonds, or private investments, it’s even more important to proactively manage asset allocation in response to interest rate changes or global financial trends. In volatile markets, timely adjustments can protect long-term performance while keeping your plan aligned with your broader goals.

Whether you’re building or preserving generational wealth, staying engaged with your financial strategy fosters resilience. A trusted wealth manager can help you revisit assumptions, recalibrate your investment mix, and ensure your plan evolves with you—not against you.

11. How Do You Help Minimize My Costs?

Understanding how a wealth manager helps you reduce costs is central to evaluating the quality of their service—especially for individuals seeking high-net-worth wealth management. If your advisor operates under a fiduciary standard, minimizing unnecessary expenses should already be a foundational part of their approach. But it’s not enough to hear that they “do it.” You need to know how they do it.

Ask for real examples. A qualified advisor should clearly explain how they manage:

• Capital gains taxes—including the difference between short-term and long-term gains
• Transaction fees and commissions—and whether they avoid products with hidden charges
• Fund and portfolio-level expenses—such as internal management fees within mutual funds or ETFs

In conversations with your advisor, listen for strategies rooted in private investment management rather than reactive or high-frequency trading. Look for advisors who emphasize tax-efficient asset placement, strategically timed rebalancing, and cost-aware investment vehicles.

An experienced wealth manager should not only identify how to reduce direct costs but also illustrate how avoiding overactive portfolio churn can lead to significant long-term savings. These strategies can be particularly impactful for investors with complex portfolios or those nearing retirement.

If your advisor can quantify the long-term impact of cost minimization—and explain how it integrates into your broader financial plan—you’re likely speaking with someone who prioritizes your best interest.

Answer You Want to Hear: “I use strategic, low-turnover investing, avoid unnecessary commissions or hidden fees, and take proactive steps to minimize your tax exposure.”

12. How Often Do You Update My Financial Plan?

A common oversight in wealth advisory services is treating the financial plan as a one-time deliverable—built during the onboarding phase and rarely revisited. Unfortunately, that outdated model doesn’t work for high-net-worth individuals whose portfolios are more complex and whose financial situations evolve rapidly.

The reality is this: A static financial plan becomes less relevant with every passing quarter.

In today’s dynamic markets, you need a private wealth management firm that actively updates your plan—ideally on a quarterly basis. This regular cadence allows your wealth manager to:

• Adjust your asset allocation in response to market changes or performance shifts
• Integrate new financial goals, lifestyle updates, or life events (like a business sale, inheritance, or major purchase)
• Reassess your risk tolerance and long-term projections as needed
• Refine tax planning strategies and identify new opportunities across investment vehicles
  

Annual reviews may work for more passive investors, but for individuals with $500,000+ in investable assets or complex estates, quarterly updates are often necessary to protect, preserve, and grow your portfolio effectively.

If your prospective wealth manager doesn’t proactively offer periodic plan reviews, especially tied to real changes in your life or the broader economy, it’s worth exploring other options.

What to look for: A consistent, structured review schedule—ideally every quarter—that ensures your plan evolves with you.

13. Do You Believe You Can Consistently Outperform the Market?

For those evaluating private wealth management firms, this question often reveals more than just an investment philosophy—it uncovers whether the advisor prioritizes realistic, long-term strategies or leans into outdated promises of beating the market.

According to the SPIVA U.S. Scorecard (published by S&P Dow Jones Indices), over a 15-year period ending in 2017:

• 92.33% of large-cap fund managers
• 94.81% of mid-cap managers
• 91.17% of small-cap managers

failed to outperform their benchmark indices.

These figures underscore an important reality: long-term market outperformance is extremely rare, especially after accounting for management fees, transaction costs, and taxes. While some advisors may tout short-term wins, few can sustain that edge over time. For high-net-worth investors, these performance gaps can result in significant opportunity costs.

That’s why experienced wealth managers don’t rely on beating the market. Instead, they focus on strategic planning, risk-adjusted returns, tax efficiency, and personalized asset allocation that aligns with your broader financial goals.

If a wealth manager claims they can consistently outperform the market, it may signal a sales-oriented mindset rather than a grounded, long-term planning approach. It’s wiser to seek advisors who acknowledge the evidence and focus on building resilient, goal-aligned portfolios.

Answer You Want to Hear: “Outperforming the market over the long term is highly unlikely, so I follow a strategic approach built on your specific goals.”

14. When I Call With a Question, Who Will I Be Speaking With?

If you’re exploring wealth management near me or evaluating private wealth management firms, this question matters more than it seems. It’s not just about access—it’s about who is prioritizing your financial goals when it counts.

High-net-worth individuals often have complex portfolios and nuanced financial plans. In those moments when clarity is needed—whether it’s a market shift, tax question, or life event—you don’t want to be passed off to a generic customer service rep or a rotating team of junior staff.

You want to speak directly with someone who knows your plan, understands your long-term goals, and can offer informed insight based on your financial profile—not a script.

The best wealth advisory services provide continuity and accountability. That means having a direct line to your dedicated wealth manager or lead advisor—someone you’ve built a relationship with over time and who understands the full scope of your financial picture.

Answer You Want to Hear: “You’ll speak with me directly, or a member of your assigned advisory team who knows your situation inside and out.”

15. How Can You Help Me Feel Confident My Money Won’t Run Out?

One of the most common concerns among high-net-worth and ultra-high-net-worth individuals—especially as they approach retirement—is long-term financial security. It’s not just about achieving growth; it’s about sustaining it through life’s uncertainties.

An experienced wealth manager won’t offer vague reassurance. Instead, they’ll show you how your portfolio is structured to withstand a wide range of economic conditions and personal life events—ensuring your money continues to support your lifestyle and goals well into the future.

To accomplish this, some private wealth management firms rely on comprehensive stress testing. This process models your portfolio across hundreds or even thousands of real-world market scenarios, including periods of high inflation, deep recessions, geopolitical crises, and personal life disruptions. These models use historical data from as early as the 1920s to simulate how your assets would hold up in extreme but plausible financial environments.

The goal? To identify a “Comfort Zone”—a performance range where your portfolio continues to support your financial objectives in at least 75–90% of modeled situations. If your plan falls outside that zone, a skilled wealth manager will proactively recommend adjustments to bring it back in alignment—before minor issues grow into serious risks.

Quarterly plan reviews and dynamic rebalancing are key. This is how long-term wealth management shifts from reactive to preventative, ensuring your strategy evolves alongside changing market conditions and personal milestones.

Answer You Want to Hear: “We use real data, advanced stress testing, and ongoing planning updates to ensure your portfolio is resilient across scenarios—so you feel secure now and decades from now.”

16. What Is Your Minimum Asset Requirement?

If you’re searching for high-net-worth wealth management, one of the first things to clarify is whether the advisor or wealth management firm specializes in clients like you. A key indicator? Their minimum asset requirement.

If a wealth manager primarily works with individuals whose portfolios fall well below your own, they may not have the experience, tools, or network to address the complexities that come with managing larger, more diversified portfolios. For example, advisors unfamiliar with private wealth management firms may overlook critical opportunities in areas like estate planning, multi-generational wealth transfer, or strategic tax mitigation.

This question helps ensure your advisor understands the level of customization, risk management, and financial planning needed for clients with $5 million or more in investable assets. An advisor accustomed to serving this segment is more likely to deliver tailored solutions that align with your investment goals, risk tolerance, and long-term legacy planning objectives.

Answer You Want to Hear: “We typically work with clients who have $5 million or more in investable assets.”

17. How Long Do Your Clients Typically Stay With You?

In wealth advisory services, client retention speaks volumes. A long-standing relationship between a wealth manager and their clients can signal trust, satisfaction, and consistent delivery of value—especially when navigating the financial complexities that come with high-net-worth wealth management.

This question gives you insight into whether the advisor fosters lasting partnerships or experiences frequent turnover. If a wealth manager has built decade-long relationships with clients, it suggests they offer personalized, adaptive planning that evolves with the client’s needs over time. Conversely, short-term relationships may signal misalignment, underperformance, or a lack of proactive service.

You’re not looking for a transactional relationship—you’re looking for a strategic partner who helps safeguard and grow your wealth through retirement and across generations.

Answer You Want to Hear: “Most of my clients have been with me for 10–20 years or more, depending on the length of my practice.”

18. How Long Have You Been a Wealth Manager?

When evaluating private wealth management firms, it’s important to ask not just about years in the financial services industry, but about direct experience serving high-net-worth individuals in a wealth management capacity.

You’re not just looking for a licensed advisor or someone who’s worked in general finance—you want someone who has managed complex portfolios, overseen asset allocation across market cycles, and provided personalized wealth advisory services for clients with $500,000 or more in liquid assets.

Keep in mind that even if a firm has decades of combined experience, that doesn’t guarantee every advisor has the same depth. Ask specifically how long the individual you’ll be working with has provided wealth management—not just how long they’ve been in finance.

Answer You Want to Hear: “I’ve been directly managing high-net-worth portfolios for over 10 years.”

Asking thoughtful, informed questions is a key part of evaluating whether a wealth manager’s approach aligns with your financial goals. Once you have clarity on your preferences, the next step is to explore qualified professionals who match your criteria.

To begin evaluating a financial advisor or wealth manager, here are 10 key questions to ask—along with considerations for interpreting their responses:

1. What is your minimum asset requirement?

Look for wealth managers who serve individuals with portfolios starting at $500,000 or more, depending on the level of service and complexity of planning required.

2. How long have you been working in wealth management?

Experience matters, especially when managing long-term strategies. Many high-net-worth individuals seek advisors with at least 10 years of relevant experience, though this can vary.

3. How long do your clients typically stay with you?

Client retention can offer insight into the quality of the advisor’s long-term relationships. Consider whether clients tend to stay with the advisor for multiple years—ideally reflecting consistency and satisfaction over time.

4. Are you a fiduciary?

Some financial professionals operate under fiduciary standards, meaning they are obligated to act in their client’s best interest. It’s helpful to ask whether the advisor adheres to this standard and under what circumstances.

5. What is your approach to active vs. passive investment management?

Advisors may use active, passive, or hybrid strategies. A clear explanation of how they align investment decisions with your risk tolerance and financial goals is key.

6. How do you help manage investment costs?

Look for transparency around fees, including advisory fees, fund costs, and transaction charges. Ask how they structure costs and whether tax-efficiency is part of their planning process.

7. How often is my financial plan reviewed and updated?

Regular reviews help ensure that your strategy aligns with life changes and market shifts. Many advisors offer quarterly or annual updates.

8. Do you aim to outperform the market?

Some advisors focus on beating benchmarks, while others prioritize consistent, goal-based planning over time. It’s important to understand the advisor’s philosophy and how they measure success.

9. Who will I communicate with when I have a question?

Ask whether you’ll be working directly with the advisor or through a support team. Clarity on accessibility and communication expectations is helpful.

10. How do you help ensure I won’t outlive my wealth?

This question should lead to a discussion of retirement financial planning, withdrawal strategies, and risk management approaches tailored to your long-term lifestyle needs.

Finding the right wealth manager involves more than just experience and credentials—it’s about alignment with your values, communication style, and long-term planning goals. By asking the right questions and understanding what to listen for, you can take meaningful steps toward building a financial strategy that fits your life today and evolves with your needs.

Ready to move forward with your search?