Preparing for Your First Meeting with a Financial Advisor

Meeting with a financial advisor for the first time can feel overwhelming. This guide offers educational tips on how to prepare so the conversation is productive. It is not advice about whether to hire an advisor or which advisor to choose.

What to Bring

Advisors often ask for an overview of your financial situation. Consider gathering:

• Recent statements for retirement accounts, investment accounts, and bank accounts
• Information about employer benefits (pension, 401k/457, insurance)
• A list of what you own (home, other real estate, business interests) and what you owe (mortgage, loans)
• Estate planning documents if you have them (wills, trusts, powers of attorney)
• Recent tax returns

You do not need to bring originals or everything on day one; a summary is often enough to start the conversation.

Questions to Ask the Advisor

Understanding how the advisor works helps you decide if they are a fit. Questions to consider:

• Are you a fiduciary? (This means they are legally required to act in your best interest.)
• How are you compensated? (Fee-only, commission, or a combination?)
• What services do you provide? (Investment management, tax planning, estate planning coordination, etc.)
• What is your experience with [my situation]? (e.g., public safety retirement, small business owners, etc.)
• How often will we meet, and how do you communicate between meetings?

What to Expect in the First Meeting

A first meeting is usually a two-way conversation. The advisor will ask about your goals, timeline, risk tolerance, and current situation. You will learn how they work and whether their services align with your needs. There is no obligation to proceed after a first meeting.

After the Meeting

Take time to reflect on whether the advisor's approach, communication style, and fee structure make sense for you. Many people meet with more than one advisor before deciding. This is a significant relationship, and it is appropriate to be deliberate.