Researching a Potential Advisor

Finding the right investment adviser can be like searching for any other service professional, for example, a mechanic or doctor. How do you truly know if they’re “good”? Perhaps you found them through a friend’s recommendation… but do you know if your friend did any due diligence beforehand? And even if your friend has had a positive experience, how can you trust this will the best match for YOU? 

We encourage our clients to begin the process by looking at FINRA’s BrokerCheck, which will give you information on your advisor’s employment history and education, as well as make note of any disclosures.

Once you feel comfortable taking the next step, you can start the interview process. The Securities and Exchange Commission put out an exhaustive list of questions to ask a potential advisor/firm here.

At Torrey Wealth, we try to make things as simple as possible, so we’ve narrowed down this list to help you figure out the “essence” of the adviser/company you’re considering:

  • What is your investment philosophy?
  • How many clients do you work with? Describe your typical client.
  • What training and experience do you have?
  • What type of services do you offer? Planning? Investment management? What is your process?
  • How often do you meet and/or communicate with us? What should we expect from those conversations?
  • How do you get compensated? Commissions, amount of assets you manage, another method?

Any advisor worth their weight should not only be able to answer all of these questions, but should be glad you cared enough to ask. We take great pride in what sets us apart here at Torrey Wealth. And we always welcome the opportunity to discuss our process with you!