Asking an Advisor

Physician's Money DigestJanuary31 2005
Volume 12
Issue 2


When doctors go looking for a financialadvisor, they need to ask some pointedquestions to ensure that the person islooking out for their financial interests.Don't be overly impressed by a string ofletters after the advisor's name; they're justa starting point in your search. Find outwhether the advisor handles clients whosefinancial interests are like yours in termsof fiscal goals (eg, college and retirementsavings). A key question concerns reimbursement.An advisor who makes moneyon commissions from recommendedfinancial vehicles may not be as completelyobjective as one who charges a straightfee. Also ask to see the advisor's ADVform, which will list any disciplinaryactions. An advisor who balks at yourrequest is sending you a signal to lookelsewhere. You can also look up theADV form at

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