What are financial advisors for, anyways?
When you’re interviewing an advisor, there’s one surprisingly simple question that can reveal a lot about their integrity and track record: “Can I speak to a few of your current or former clients?” If they hesitate or refuse, that’s a red flag. Reputable planners should be comfortable providing references who can speak to their service, communication, and results.
What to listen for
Clear, specific references. Advisors who readily share client references (with permission) show confidence in their work and transparency.
How they get paid—exactly. Ask whether they’re fee-only or fee-based, their fee structure (hourly, flat, or % of assets), and whether they accept commissions or 12b-1/trailing fees. Vague answers here are another warning sign.
Fiduciary commitment in writing. Don’t just ask if they’re a fiduciary—request that they sign a fiduciary oath. A solid advisor won’t balk.
Plain-English communication. If they can’t explain strategies without jargon—or make you feel small—that’s not your person.
Right-fit expertise and service. Do they specialize in clients like you? How often will you meet? What happens between check-ins? Get specifics before you sign.
Quick script you can use
“Before we move forward, could you share two or three clients I can speak with about their experience working with you? Also, are you fee-only, and will you sign a fiduciary oath?”
Bottom line
Plenty of questions matter—but asking for client references cuts through polish and promises. Pair that with clarity on fees, a signed fiduciary oath, and straight talk you understand, and you’ll dramatically improve your odds of choosing the right advisor.
Read the full MarketWatch article here.