Checklist for meeting with a financial advisor
Meeting with a financial advisor for the first time can be a little overwhelming, which is why we’ve assembled a list of helpful hints to help you get organized before our initial meeting. This should not be viewed as homework or a requirement, but simply a resource to help maximize your time:
- Print and bring your most recent copy of your:
- 401(k) statement with value and distribution/allocation of funds
- Other various retirement accounts
- Investment accounts
- Checking accounts
- Savings accounts
- Any other accounts
- IRAs
- Insurance statements including benefit amounts
- If you are currently employed, call your benefits department and ask the following questions:
- What are the company’s primary retirement benefits?
- Do I have various types of employer provided insurance benefits such as health, life, long-term care, disability, etc.? And, if so, what are the employer provided benefits?
- Do we have a pension or a lump sum rollover option?
- Create a list of your debt, including:
- Approximate principal balances
- Interest rates
- Payment schedules
- Expected payoff period
- Document your last six to 12 months’ worth of spending, focusing on determining an average amount of spending per month.
- Consider your long-term and short-term financial goals – where do you want to be in 5 years, 10 years, etc.?
Document these goals and be prepared to discuss them with your financial advisor. Having these goals in mind will assist you advisor in making appropriate recommendations for you.