get tough, 10 second vid: wanting a hard arse for a financial planner
August 20, 2007

Kiplinger’s annual retirement planning issue gives keen & concise interview tips for your financial planner search.

One example here re: learning their client complaints policy:

I’m meeting with different planners and comparing their advice.

I liked last week’s planner, his personality & warmth. But after considering Kiplinger’s points to consider, I wouldn’t trust him with significant decisions. I’m not sure why except he seemed almost too warm and fuzzy. Professional, yes; dressed in fine business attire, yes.

But he didn’t offer that clear, decisive tone aka “Jill I want you to consider, this, this, and this.” Possibly this would emerge after that initial meeting. I led the meeting, which is what I prefer. So – ha – maybe I didn’t give him a chance to be decisive. And Russell Bailyn makes an intriguing point about emotions, financial planning, & cookie cutter advice.

More questions to ask per Kiplinger’s:
— what process do you follow to identify goals and evaluate performance?
— what are your sources of research and information?
— what’s your fee structure?

And what you should be very honest about, even if your gut says they’d be fun for beers:
are they candid & intelligent?