8 Questions to Ask When Choosing a Fiduciary Advisor

Choosing a financial advisor that is the right fit for your situation is crucial as you work towards your financial goals. While there are many factors to consider, one key distinction is whether they are a fiduciary. A fiduciary advisor is legally required to act in your best interests, which can offer peace of mind that your finances are being handled with your well-being in mind. However, not all advisors are true fiduciaries and this can be confusing for people. Even among those who are fiduciaries, it’s essential to choose an advisor who aligns with and understands your specific goals.

Here are 8 key questions to ask when selecting a fiduciary Advisor:

  1. What are your qualifications and experience?
    Ask about their certifications, licenses, and how many years they’ve been in practice. Designations like Certified Financial Planner (CFP®) or Certified Public Accountant (CPA) are strong indicators of expertise. Their background will help you assess whether they’re equipped to handle your financial needs.
    Meet our team of Advisors and Partners which include CFPs and CPAs.
  2. What does your team look like and how do they work together to serve clients?
    Choosing a fiduciary Advisor with a support team give you more stability, better service, and peace of mind. While the team handles day-to-day tasks, the Advisor can focus on your long-term financial goals. If your Advisor is ever unavailable, a strong continuity plan and team-based approach ensures someone familiar with your situation can step in and keep your plan on track.
  3. How are you compensated?
    Understand whether they charge fees, earn commissions, or follow a fee-only model. Fee-only Advisors are generally preferred due to fewer conflicts of interest. It’s important to ensure that an Advisor’s compensation structure aligns with your comfort and expectations.
  4. Are there any products exclusive to your firm that you offer?
    Advisors at large firms may offer products created by their own company, which can sometimes lead to conflicts of interest. Even fiduciaries might be encouraged to recommend these products, so it’s important to compare them with other options to make sure they fit your goals and wallet. Independent Advisors usually don’t use proprietary products, which can lead to more objective and personalized advice. Copper Leaf Financial, LLC is registered with the Securities and Exchange Commission as an investment advisor. For details including our firm’s full disclosure and policies, click here.
  5. What are your services?
    Fiduciary Advisors may focus on services like estate planning, investment management, or tax strategies. It’s important to ask about their services because not every Advisor offers the same support. Choosing one whose services match your needs helps you get the right guidance for your situation.
    Read more about how Copper Leaf develops a customized plan integrating every aspect of your financial life.
  6. How do you make investment decisions?
    Learn about their investment philosophy and how they tailor it to your risk tolerance and goals. Some use a holistic strategy, while others focus on specific asset classes. Make sure their approach aligns with your short- and long-term goals.
    We believe that portfolios are designed to help you achieve your financial goals. Risky practices like trying to time the market, anticipate trends or identify mispriced investments may be highly unreliable ways to build wealth. Instead, we apply an Evidence-Driven Investing approach fueled by data and research. Our philosophy is rooted in diversification and tax- aware investments.
  7. What is your approach to financial planning?
    Some Advisors offer a full-spectrum plan covering retirement, taxes, insurance, and estate strategies. Others might zero in only on investments or another niche. Choose one whose approach matches the complexity of your financial life.
    Click here to learn more about Copper Leaf Financial’s holistic approach to planning.
  8. What are the potential risks involved in your recommended strategies?
    A trustworthy Advisor will explain both the benefits and risks of their recommendations. Understanding these risks helps you make informed, confident choices. Transparency is key to building long-term trust.

Our team of Advisors meets with clients on a regular basis to assess and discuss risk as we review their current strategies to ensure alignment with their current circumstances and long-term goals.

Asking the right questions is crucial to finding a trusted, fiduciary Advisor who is committed to acting in your best interest. Click here to learn more about why fiduciary advice matters.

Copper Leaf Financial is a member of the National Association of Personal Financial Advisors (NAPFA). We are held to the fiduciary standard which ensures that we act in your best interest. We work with you over the long term and develop a plan that acts as a roadmap – one that evolves over time and reflects changes in your life and goals. Contact us today for more information and to begin your journey.

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