Rockbridge Named #81 on CNBC's Top 100 Fee Only Wealth Mgmt Firms List
Sep 20

What to Ask Your Financial Advisor

by Patrick Rohe, CFP®

  1. How does/and how much does your advisor get paid?

Fees matter.  It is important to know how much you are paying and the value you receive for that payment.  If you’re paying 1% or more for only investment management with no in depth retirement planning, we should talk.

  1. Is your advisor required by law to act in your best interest? If not, why?

Most advisors are only required to do what’s “suitable” for you and are not required to act in your best interest.  If your advisor is anything but a fee-only registered investment advisor (ex. Fee-based, commission based, insurance salesman, bank advisor etc.) they have intentionally decided against being held to a fiduciary standard (acting in your best interest).

  1. Does your advisor invest his own money in the same manner he recommends to his clients?

Rockbridge advisors believe all money (theirs, as well as their clients) should be invested according to an evidence-based investment philosophy studied by academics since the 1960s. If your advisor is investing their own money differently than they are recommending you should invest yours, it should make you stop and think.

  1. Does your advisor help you save money on taxes?

We help clients focus on factors they can control.  Together, we build and create a financial plan incorporating a tax-efficient investing and withdrawal strategy so you end up with more of your own money (and the government doesn’t!).

  1. Does your advisor help you understand how much money you can spend in retirement?

Investment management is just one piece of sound financial advice.  We solve financial problems beyond just the investment management component.  The first step of our process is to help you understand how much you are able to spend throughout retirement relative to how much you are spending today.

  1. Does your advisor have industry professionals to help you in all aspects of your financial life? If not, why?

At Rockbridge, we have built a team of industry professionals (CFP’s, CFA’s, CPA’s, and Legal),  that are committed to client care.  We have the expertise to provide unrivaled advice in all aspects of your financial life.

About the Author

Patrick Rohe CFP is a Certified Financial Planner at Rockbridge. “Upon graduation from Cornell University, I was recruited by a large brokerage firm. After months of sales training and minimal help in understanding even the basics of investing, I quickly learned that the brokerage firm model was not for me. I then made the transition to Rockbridge, a fee-only financial planning firm, where I truly enjoy helping people and making a difference in their financial lives!”. Patrick is a graduate of the Applied Economics and Management and Animal Science (B.S.), Cornell University, and the CERTIFIED FINANCIAL PLANNER™, (CFP®) program. Learn more and/or Contact Patrick.


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