Before You Choose a Financial Advisor, Ask These 3 Questions

Choosing a financial advisor is one of the most important decisions you’ll make when it comes to your long-term financial well-being. 

Whether you’re planning for retirement, managing investments, or simply trying to make smarter financial decisions, the right advisor can make a drastic difference in your long-term financial journey.

But here’s where many people get stuck: they’re not sure what to ask. 

It’s easy to get overwhelmed by credentials, jargon, or polished presentations, especially if you don’t know what separates a great advisor from a good salesperson.

But here’s the thing: asking the right questions doesn’t just help you vet an advisor. It gives you clarity and confidence in the process ahead. A strong financial partnership starts with transparency, trust, and shared expectations.

In this article, we’re going to walk you through three of the most important questions we believe every person should ask a financial advisor before making a decision — and why the answers you get can reveal more than you might expect.

Key Takeaways

• Knowing what a financial advisor does helps you ask smarter questions and choose the right fit for your goals.
• Always ask whether your advisor is a fiduciary; it reveals how they’re legally obligated to act on your behalf.
• Understanding how much a financial advisor costs (and how they’re compensated) is key to building a transparent, trust-based relationship.
• Ask about the advisor’s planning process to ensure you’re choosing a private wealth management firm that offers structure, not just products.
• If you’re looking for a fiduciary financial advisor near you in Columbus, GA, our team at Momentum Wealth welcomes your questions.

What Does a Financial Advisor Do?

Let’s take a step back.

Before we get into what questions to ask a financial advisor, it’s important that you understand what a financial advisor is and what they do.

At its core, a financial advisor helps you make informed decisions about your money. That could mean building an investment strategy, preparing for retirement, evaluating insurance needs, planning for major life transitions, or a combination of all of the above. 

But it’s important to remember that not all advisors take the same approach, and not all are held to the same standards.

Some focus strictly on managing investment portfolios. Others take a more comprehensive view, incorporating retirement planning, tax efficiency, estate considerations, and long-term cash flow. Some are compensated through product commissions. Others charge fees directly for their time and advice. 

And, unfortunately, not everyone who is an advisor is required to act solely in your best interest.

This is where context really matters.

When you work with a fiduciary financial advisor, you’re working with someone who is legally obligated to put your interests first. That’s the foundation of Momentum Wealth’s approach, and it’s why our clients trust us with their most important decisions.

Because ultimately, financial advice isn’t just about numbers. It’s about understanding where you want to go and building a plan to help you get there with confidence.

Now, let’s get into our 3 questions that could help you decide if a financial advisor is right for you.

Question #1: Are You a Fiduciary?

This is one of the most important — and often overlooked — questions you can ask a financial advisor.

As we’ve discussed, not all advisors are held to the same standard. Some are required to act in your best interest. Others are only required to recommend investments that are considered “suitable,” even if they’re not the best option for your situation.

This is a role that needs to be taken seriously; being a fiduciary is not a marketing term to throw around, but a legal and ethical obligation.

A fiduciary financial advisor is required to put your interests ahead of their own. That includes full transparency around fees, avoiding conflicts of interest, and recommending strategies that are best for you, not what earns them a higher commission.

At Momentum Wealth, we operate as fiduciaries because we believe it’s the only responsible way to do this work. We’re here to be partners, not salespeople. That means giving you honest, strategic advice whether you’re investing, preparing for retirement, or making decisions about long-term wealth.

If you’re searching for a financial advisor near you, one who’s going to put your needs above their own, make sure this question is at the top of your list. And if the answer isn’t a clear “yes”, that may be a potential red flag.

Question #2: How Do You Get Paid?

It’s a simple question… and one every advisor should be able to answer clearly.

Understanding how much a financial advisor costs doesn’t just help you understand how much you’ll pay for services, but it can also uncover potential incentives. How your advisor gets paid directly impacts the advice you receive and whether it’s truly in your best interest.

There are several common fee structures:

• Commission-based advisors earn money by selling products like insurance or mutual funds.
• Fee-only advisors charge a flat fee or a percentage of assets under management (AUM).
• Some use a hybrid model, using a blend of fees and commission-based products.

At Momentum Wealth, we believe in full transparency. We don’t receive commissions on trades or investment products. If we ever recommend an insurance solution, that’s always disclosed up front, so you know exactly what to expect.

At this point, many people also ask: “Are financial advisor fees tax-deductible?”

It’s a fair question, especially when you’re thinking through the long-term value and overall cost of your financial advice. 

The answer? In most cases, not anymore. 

Since the Tax Cuts and Jobs Act of 2017, investment advisory fees are no longer deductible for individuals. There are a few exceptions, such as business-related advisory costs, but for most people, this is a nondeductible expense. (Of course, we recommend speaking with a tax professional about your specific situation.)

While advisor fees typically aren’t tax-deductible, the real value lies in what you receive in return: objective advice, thoughtful planning, and a strategy built around your goals.

That’s why understanding how your financial advisor is compensated is a key part of choosing someone you can trust to give you sound financial guidance. The more transparent the fee structure, the easier it is to align your financial decisions with your long-term interests.

Question #3: What Will Our Planning Process Look Like?

When you’re hiring a financial advisor, you’re not just choosing someone to manage your portfolio, you’re entering into an ongoing relationship. That’s why it’s important to ask: What will our planning process actually look like?

Here’s how we think about it: A strong advisory relationship should be structured, consistent, and tailored to you.

At Momentum Wealth, we guide clients through a thoughtful process designed to build clarity and confidence from the start:

1. Discovery: We start with a conversation, not a sales pitch. This is where we take the time to truly learn about your goals, concerns, values, and financial picture.

2. Analysis & Strategy: We assess your current position, identify key opportunities and risks, and develop a strategy that aligns with your goals. Whether you’re preparing for retirement, managing complex wealth, or planning a major transition, we make sure your strategy is built around your unique situation.

3. Implementation: We help put your plan into action, from investment decisions to insurance strategies, with full transparency along the way.

4. Ongoing Support: Financial planning isn’t a one-time event. It’s an ongoing relationship. That’s why we regularly revisit your plan, adapt to changes, and walk with you through every season of life.

Think about it: they’re the expert who should be guiding you. If they don’t have a clear process built around your needs — or if it sounds vague or overly-focused on pushing products — that’s probably worth pausing on.

Financial planning should give you a clear-to-follow framework, not just a file folder. The right advisor won’t make rash decisions in reaction to the markets or your questions; they’ll proactively guide your strategy forward and give you confidence in your financial plan.

Bonus Questions to Consider

While the three questions above can help you learn more about an advisor, they’re just the starting point. If you’re meeting with a financial advisor for the first time, here are a few more questions worth asking:

• How often will we meet or review my plan?
• What credentials or licenses do you hold?
• What’s your investment philosophy?
• What happens if I decide to leave the firm?
• How will you help me plan for retirement, taxes, or other major life goals?

You don’t need to ask everything at once, but the right advisor will welcome your questions and provide straightforward answers.

At Momentum Wealth, we believe the best relationships are built on clarity from the start. If something’s important to you, it should be part of the conversation.

Final Thoughts

Choosing a financial advisor is about so much more than credentials or performance. It’s about building trust, alignment, and a long-term partnership. And it all starts with asking the right questions.

Knowing the best questions to ask a financial advisor today can shape the relationship (and results) that you experience tomorrow. Our team at Momentum Wealth believes that thoughtful questions lead to better outcomes. We welcome your questions, knowing that the more clarity you have, the more confident you will feel in your path forward.

Ready to talk with a team that welcomes your questions?

Here at Momentum Wealth, we’re a private wealth management firm that serves clients locally in Columbus, GA, and all across the country. 

Whether you’re looking for an investment advisor in Columbus or are simply comparing financial advisor options, we’re here to provide thoughtful, personalized guidance. If you’re seeking wealth management in Columbus, GA, or beyond, we’d be honored to help you take the next step.

Let’s talk today and start a conversation about what matters most to you. Get answers you can trust, along with a unique plan built around your goals.