Asking an Advisor

Physician's Money Digest, January31 2005, Volume 12, Issue 2

Tip:

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 www.adviserinfo.sec.gov.