9 Questions to Ask Before Hiring a Financial Planner or Tax Advisor
- Mofrad Financial Solutions
- 1 day ago
- 4 min read
Entrusting someone with your financial future is one of the most significant decisions you will make.
Whether you are planning for retirement, managing a small business, or navigating complex tax laws, the right advisor can make all the difference between financial stress and financial freedom. But how do you find "the one" in a sea of professionals?
The key lies in the interview process. Choosing the right financial planner isn't just about picking a name from a directory; it’s about finding a partner who understands your goals.
To help you navigate this important choice, we’ve compiled a list of questions to ask a financial planner or tax advisor before you sign on the dotted line.
1. What Are Your Qualifications and Credentials?
Not all financial professionals are created equal. The terms "financial planner" and "tax advisor" can be used by a wide range of individuals with varying levels of expertise.
Start by asking about their certifications. Are they a Certified Public Accountant (CPA)? An Enrolled Agent (EA)? A Certified Financial Planner (CFP)?
These designations require rigorous exams and ongoing education. Understanding their background is one of the most critical hiring tips for a financial planner because it ensures they have the technical knowledge to handle your specific situation.
2. Are You a Fiduciary?
This is perhaps the most important question on the list. A fiduciary is legally and ethically bound to act in your best interest, putting your needs above their own.
Non-fiduciaries may be held to a "suitability standard," meaning they can recommend products that are suitable for you but might also earn them higher commissions.
When you are looking for the best financial planner for small businesses or personal wealth, you want someone who sits on your side of the table, offering unbiased advice.
3. How Do You Get Paid?
Transparency regarding fees is non-negotiable. Advisors generally operate on one of three models:
Fee-only: They charge a flat rate, an hourly fee, or a percentage of assets under management. They do not earn commissions on products they sell.
Commission-based: They earn money when they sell you specific financial products (like insurance or mutual funds).
Fee-based: A hybrid of the two.
Ask directly: "Do you earn commissions from the products you recommend?" Knowing this helps you identify potential conflicts of interest.
4. What is Your Investment Philosophy?
If you are hiring a professional for wealth management, you need to know how they approach the market. Do they believe in active trading to beat the market, or do they prefer a passive, long-term strategy?
Their philosophy should align with your risk tolerance and timeline. If you are conservative and nearing retirement, an advisor who takes aggressive risks with volatile stocks is unlikely to be a good fit.
These are essential financial planning questions to ask to ensure you are comfortable with how your money will grow.
5. How Do You incorporate Tax Planning into Your Strategy?
Many people view financial planning and tax preparation as separate silos, but they are deeply interconnected. This is often where the financial planner vs tax advisor debate comes into play. Ideally, you want an advisor who understands both.
Ask specific tax advisor interview questions like: "How will your investment recommendations impact my tax bill?" or "Do you offer year-round tax planning, or just filing services?"
A proactive advisor will look for tax-saving opportunities throughout the year, not just on April 14th.
6. Who is Your Typical Client?
You want an advisor who is experienced with people in your situation. If you are a small business owner, an advisor who primarily works with corporate executives might not know the specific deductions and strategies available to you.
Ask them to describe their ideal client. If their answer sounds a lot like you, it’s a good sign they have the relevant experience to help you succeed. This is crucial when learning how to hire a tax advisor who can actually move the needle for your finances.
7. How Often Will We Communicate?
Communication is the bedrock of trust. Will you meet once a year for a quick review, or are they available for questions whenever life changes?
Clarify their service model. Do they offer quarterly check-ins? Are they responsive to emails? Knowing what to expect prevents frustration down the road.
At Mofrad Financial Solutions, for example, we pride ourselves on being accessible and responsive, ensuring you never feel left in the dark.
8. What Services Do You Offer Beyond Investment/Tax Advice?
Financial lives are complex. You might need help with estate planning, insurance analysis, education funding, or business succession planning.
Ask whether they provide comprehensive planning or focus on a narrow niche. A holistic approach often yields better results because it considers the complete picture of your financial life.
9. What Happens to My Accounts if Something Happens to You?
It’s a tricky question, but a necessary one. If you are working with a solo practitioner, you need to know their succession plan.
Who will look after your finances if they retire or pass away? Professional firms should have a continuity plan in place to ensure your service is uninterrupted.
Why Mofrad Stands Out: Your Financial Advocate
Did you know that only 30% of Americans have a long-term financial plan that includes savings and investment goals? That means most people navigate their financial future without expert guidance—making your choice of advisor more important than ever.
Our difference lies in our unwavering commitment to personalization and client care. We don’t believe in one-size-fits-all advice. Instead, you get a team that listens to your goals, communicates clearly, and acts as your financial advocate—helping you make confident decisions at every stage of life or business.
As a fully independent firm, we prioritize transparency, provide ongoing education, and ensure you have direct access to real advisors—not just automated systems.
Let's Build Your Financial Roadmap—Together
Ready to work with a team that treats your money like their own? Take the first step toward clarity and peace of mind with a no-obligation consultation.
Visit Us Today and discover how a truly client-centered partnership can secure your financial future.
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