6 Important Year-End Questions for Your Financial Advisor

Posted by adaniels in Blog on December 17, 2012

In order to be on track for 2013, you should tell your financial advisor what life changes you have had in 2012. In addition, there are some questions you really should ask your financial advisor at the end of the year. Here is what The Daily Finance thinks you should talk about:

  • Do you need to make portfolio changes? Perhaps it’s time to think about new asset allocation distribution.
  • What about tax-deferred accounts? Maybe you should add money to thinks like IRA s and 529 plans. Perhaps it’s time to change your regular IRA to a Roth IRA. Also ask your advisor about your 401(k), if you have one.
  • Do you need to do any new tax strategies before the end of the year? Keep in mind that taxes could be higher in 2013.
  • How did your portfolio do this year? You need to know if you made money or lost money, and how your portfolio did as compared to other people and benchmarks. You also need to see if you are on track to make your financial long-term aspirations.
  • How much are you paying in fees for your portfolio? You want to make sure you are not paying too much to have your portfolio. Ask your advisor for a breakdown of the fees.
  • What can you do to have a great 2013? You want next year to be financially fruitful for you. Learn from your mistakes, get advice from your financial advisor, and move on.

Written by Lisa Swan


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