By: MoneySense staff | MoneySense.ca | October 4, 2010
Read More, and see what Scott Plaskett says about how to interview a potential planner.
Once you’ve narrowed your financial planner search to three candidates, you’ll want to arrange a little face time. A simple halfhour interview can be very revealing. Not only will you find out exactly what service each planner offers and how much it costs, you’ll also get a sense of how well you interact with each—and how much you trust them.
Each planner will likely ask you to bring your financial records to the initial consultation. But Scott Plaskett, a fee-only planner and founder of IRONSHIELD Financial Planning, says they shouldn’t require every little information slip. “If you get a request to bring in all your detailed investment statements be forewarned,” he says. Rather than requesting an overly detailed account of your investments alone, a good planner will want a broad overview of all your current debts and assets, along with a summary of your future goals and any anticipated major life transitions. “It’s the big picture that helps me understand what you want to accomplish and what issues and concerns you may have.”
