Choosing Who Advises You

Ask whether an adviser is a fiduciary, always, and get the answer in writing.
Ask how an adviser is paid, and read a fee you cannot see as a fee.
Use a five-question checklist before saying yes to anyone.

You will be offered advice. Some of it will be sold to you. The question is not whether an adviser is nice. It is who they work for when they give the advice.

A fiduciary must put your interest first, by law. Not every adviser is one. Ask directly: "Are you a fiduciary when you advise me, all the time?" A clear yes is the answer you want. Anything else is an answer too.

Fees are the second question. Ask how the adviser gets paid: by you, by a company whose product they sell, or both. Ask for it in writing. A fee you cannot see is still a fee.

The adviser checklist

Ask	The answer you want
Are you a fiduciary, always?	Yes, and here it is in writing
How are you paid?	A stated fee, with no hidden share of what I buy
Can I check your record?	Yes, and here is where to look it up
Will you put your advice in writing?	Yes
What happens if I say no?	Nothing. You walk away.

An adviser says a product is "perfect for athletes" and the fee is "built in." What do you do?

Pick your answer first, then open it.

Ask for the fee in writing and whether they are a fiduciary. No answer means no.

✓ Right. "Built in" means you will pay it without seeing it. A good adviser can show you the number.

Sign. It was built for athletes.

"For athletes" is a sales line, not a fee disclosure. The product may be fine. You cannot know until you see the cost.

Ask a teammate who already signed.

A teammate can tell you how it felt. They cannot tell you what it costs. Only the adviser can, in writing.

This program does not pick your adviser. Nobody connected to it is your adviser by default, and no one may make using an adviser a condition of taking part.

This week

Take the checklist to any adviser you already have, or the next one you meet. Write their answers down. Keep them with your plan.

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