5 Questions to Ask Any Financial Advisor Before You Hire Them

Jim Scanlon

Jun 02 2025 14:00

Understanding the Importance of Choosing the Right Financial Advisor

Hiring a financial advisor is a critical step toward securing your financial future. With myriad options available, determining the right advisor for your needs can be daunting. As a fiduciary advisory firm, we at Scanlon Wealth Management champion transparency and integrity, helping our clients make informed decisions without sales pressure or commissions. Here's what you need to know to choose wisely.

What Makes a Financial Advisor Worthy of Consideration?

At its core, a financial advisor’s role is to provide expert guidance on managing your money—whether for investing, retirement planning, or handling sudden wealth. Choosing an advisor who aligns with your financial goals and values is crucial.

Why Does Choosing the Right Advisor Matter?

Entrusting someone with your financial health is significant. The wrong choice can lead to poor investment decisions, higher fees, or even legal issues. Finding an advisor who acts in your best interest is vital to avoiding these pitfalls.

Five Key Questions to Ensure Your Advisor is the Right Fit

• Are You a Fiduciary?- A fiduciary is legally obligated to act in your best interest, reducing conflict risk from commission-driven advice.
• What are Your Qualifications?- Verify certifications like CFP (Certified Financial Planner) or CFA (Chartered Financial Analyst) to ensure competency.
• How Do You Get Paid?- Understand their fee structure. Fee-only advisors might better align with your interests compared to those earning via commissions.
• What's Your Investment Philosophy?- Make sure their investment approach aligns with your risk tolerance and financial goals.
• Can You Provide References?- Talking to current clients can provide insights into the advisor’s reliability and effectiveness.

Common Challenges When Hiring Advisors

Many clients find themselves overwhelmed by jargon or charmed by the promise of high returns. Others struggle with transparency regarding fees or the advisor's motivations. These pitfalls underscore the importance of thorough questioning and due diligence.

How We Support Our Clients

At Scanlon Wealth Management, we prioritize personalized, conflict-free guidance, helping you navigate financial decisions confidently. Our role is to simplify complexities and foster trust through open communication and transparency.

Your Next Steps

If you’re in the Pittsburgh area or Western Pennsylvania and ready to achieve your financial goals with clarity and confidence, reach out to us at Scanlon Wealth Management. Schedule a consultation and let’s embark on this journey toward securing a brighter financial future together.

Empower yourself by asking the right questions, and remember, the right advisor is integral to your financial peace of mind.