• Mike V.

How to Find a Financial Advisor You Can Trust

The right advisor can add 3.75% of added value to a portfolio. With the stakes so high, how can Americans pick the right advisor for them?


Here are the 7 questions Tony Robbins would ask a potential advisor to work with:


1. Are you a Registered Investment Advisor?

If the answer is yes, he or she is required by law to be a fiduciary.

2. Are you (or your firm) affiliated with a Broker-Dealer?

If yes, he or she can act as a broker and receive commissions for guiding you into specific investments.

3. Does your firm offer proprietary mutual funds or separately managed accounts?

These products will likely compensate them with additional revenues, at your expense.

4. Do you or your firm receive any third-party compensation for recommending particular investments?

This is the ultimate question you want answered. You want products to be recommended because they are right for you, not because they give the best kickbacks.

5. What’s your philosophy when it comes to investing?

This will help you understand whether your advisor believes he/she can beat the market.

6. What financial planning services do you offer beyond investment strategy and portfolio management?

Financial planning is much bigger than just investing – it also involves planning for your child’s education, handling vested stock options, estate planning, and tax advice. You want someone that can help you in all stages of your life.

7. Where will my money be held?


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VIMA Registered Investment Advisors • 46 E. Square Lake Rd. • Troy MI 48085 • 248-526-6700

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