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Who Can You Trust With Your Money?: Get the Help You Need Now and Avoid Dishonest Advisors by Bonnie Kirchner - CFP, MST

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Chapter 15. The Rules of Engagement

The process of hiring a financial advisor has become more formalized as the industry has matured. In the past it would have been typical for an account to be opened and a discussion about goals to take place and possibly a financial plan prepared. Today it is more common to find additional documentation in the way of a financial planning and/or asset management agreement to be signed along with a risk management profile if you are entering into an investment advisory arrangement. While all these legal documents seem to make the process more cumbersome, and they do in certain situations help to protect the entity with which you are doing business, they are mainly there to protect you, the client. They are required ...

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