Wise Information for K‑12 Employees



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Investment Tips & Tools: Advisor Questionnaire

Before you begin working with an advisor, it is important that you do your research. Our questionnaire below will help guide you in this process.

The 403(b)wise Advisor Questionnaire

Each advisor you are considering should be asked the following questions. Download a printer-friendly copy of these questions

  1. What is your educational background?
  2. What is your CRD (Central Registration Depository) number?
  3. What financial credentials do you hold?
  4. What is your financial planning education?
  5. How did you become a financial advisor?
  6. How long have you been offering financial services?
  7. What state and/or national oversight agencies are you registered with?
  8. How many hours of continuing education do you take each year?
  9. How many clients do you currently serve?
  10. Will I work directly with you?
  11. How do you educate your clients about the investment process and their specific portfolio?
  12. Explain how you will diversify my portfolio.
  13. What is your investment philosophy?
  14. Please detail all fees or commission involved, including all costs of mutual funds or variable annuity sub accounts.
  15. How will my plan be implemented?
  16. How often will we meet?
  17. Please include any fees related to closing an account (i.e. surrender or back-end charges.)
  18. Please provide me with a written agreement that details services that will be provided.
  19. Please provide in writing your pledge to act as fiduciary on my behalf.
  20. How are you compensated?

Additional Reference

The Financial Industry Regulatory Authority (FINRA) maintains a computerized database that contains information about most brokers and the firms for which they work. You can search if a broker is licensed in your state and if they have had any issues with regulators or received serious complaints from investors. This service is called FINRA BrokerCheck.