Questions to Ask When Selecting a Financial Advisory Firm

Choosing the right financial advisory firm is a foundational decision and one that can deeply influence your family’s financial wellbeing for generations to come. Whether you're evaluating a new partner or assessing your current advisors, these questions are designed to help you uncover the depth, transparency, and alignment a truly integrated advisory relationship should provide.

1. Fiduciary Commitment

Are you a fiduciary at all times when advising me and my family?

2. Scope of Services

Beyond investment management, what additional services does your firm provide?

3. Fee Transparency

Can you provide a complete breakdown of all costs, fees, and compensation structures?

4. Advisor Compensation

How are your advisors compensated? Are there any incentives I should be aware of?

5. Custodians & Reporting

Which custodians do you work with, and who provides reporting and billing services?

6. Experience & Tenure

How long have you and your team been in practice? What is your collective experience?

7. Credentials & Education

What professional designations and educational backgrounds do your advisors hold?

8. Client Engagement

How frequently will we meet, and what is your approach to client communication?

9. Access & Technology

What tools or software will I use to track my accounts and performance?

10. Investment Philosophy

What core investment principles guide your decision-making process?

11. Investment Management

Do you manage assets in-house or work with third-party managers? If outsourced, to whom?

12. Liquidity & Access

How quickly can I access my funds if needed?

13. Generational Engagement

How do you involve my heirs, beneficiaries, and other trusted decision-makers?

14. Professional Collaboration

How do you coordinate with my tax and legal advisors?

15. Regulatory Disclosures

May I review your firm’s regulatory filings, including Form ADV?

16. Privacy Protection

Can you share your privacy policy and data handling procedures?

17. Cybersecurity

What measures do you have in place to protect my sensitive information?

18. Performance & Value

How do you measure the value and performance you deliver to clients?

19. Professional Challenges

What do you find most challenging about serving clients in your role?

20. Final Considerations

What else should I understand about you and your firm that sets you apart?

A Relationship Built on Transparency and Trust

These questions aren’t just a checklist. They’re the foundation of a relationship built on clarity, confidence, and shared values. At J.M. Arbour, we welcome these conversations and are committed to full transparency at every step.