Creating a productive relationship

Working with your financial advisor – clear expectations, annual meeting checklist make for a productive relationship

Like any relationship, an advisor-client relationship requires ongoing, open communication with clear expectations set on both sides (see “Responsibilities” below). At a minimum, you will probably meet your financial advisor once a year. To make the meeting a productive one, be sure you have a list of topics and questions ready using this Annual Meeting Checklist.

Your financial advisor’s responsibilities to you

  • Act in your best interest
  • Answer questions
  • Identify opportunities and make appropriate recommendations
  • Confirm expectations and investment needs
  • Disclose compensation
  • Discuss risks associated with recommendations
  • Observe and adjust strategy
  • Recognize problem areas
  • Recommend other professionals/experts
  • Report regularly
  • Respond quickly

Your responsibilities to your financial advisor

  • Ask questions
  • Be committed to achieving your goals
  • Disclose information
  • Express your risk tolerance
  • Go to your meetings prepared
  • Keep advisor up to date on your situation
  • Keep documentation
  • Provide feedback about advisor’s services
  • Respond quickly
  • Stay informed about your investments