7 Questions to Ask Before You Hire a Financial Advisor

Choosing a financial advisor is a big decision, one that can shape whether you retire with confidence or spend those years worrying about money. Yet fewer than half of Americans currently work with a financial advisor, and about 2 in 5 workers say they simply don't know where to turn for advice (EBRI, 2025). That's a shame, because research shows a good advisor relationship can add real, measurable value over time. Vanguard's Advisor's Alpha research puts it at roughly 3% in net portfolio value per year, and Morningstar's related Gamma research puts it at about 1.59% annually for retirees using informed strategies (Kitces, 2019).

In my 30 years in this business, I've found that the clients who feel best about retirement are the ones who asked good questions up front. Here are seven questions I'd encourage you to ask any advisor you're considering, including me.

1. Who are you, and how do you work with clients? Interview a few advisors before committing. You're looking for someone who will partner with you, not just sell to you.

2. What are your qualifications? Ask about designations, licenses, and years of experience relevant to retirement planning specifically, not just financial services broadly.

3. What do you specialize in? Look for an advisor whose specialties match what you need, such as retirement income planning, 401(k) reviews, or weighing a pension annuity against a lump-sum distribution.

4. Do you specialize in a particular life stage or group? Some advisors, myself included, focus on clients in a specific stage of life or line of work, such as union members approaching retirement, who face pension and benefits decisions that are often irreversible.

5. Are you a fiduciary? A fiduciary is legally required to act in your best interest. Make sure whoever you work with is one. (For the record, I am.)

6. How are you paid? Get clarity on fees up front, whether that's a flat fee, an hourly rate, a commission, or a percentage of assets, so you know exactly what the relationship costs. Fees can have a large impact on your returns over time, so this is worth understanding fully. Transparency and education are core values here. I don't earn commissions, and my fees are competitive within the industry.

7. What should I expect once we start working together, and will you actually call me back? This one matters more than people expect. Ask how often you'll hear from your advisor and how they'll keep you informed, especially around big decisions like a pension election or 401(k) rollover. Some advisors have a reputation for being hard to reach once you've signed on. I make it a point to return calls promptly, because you shouldn't have to chase down the person managing your retirement.

If you'd like to talk through your own situation, call me at  (877) 997-7113 or visit pereirawm.com.