You are a wholesaler who is under 35 years of age.
They are an advisor who is over 55 and has been in the business almost as long as you have been alive.
Exactly what profiling questions would you ask so as to 1) properly understand their practice and 2) not embarrass yourself?
49 Profiling Questions to Ask Advisors Over The Age of 55
Background and Experience
- Can you briefly describe your journey to becoming a financial advisor?
- What motivated you to become a financial advisor?
- How have you seen the industry change over your 30+ years of experience?
- Can you share some pivotal moments or decisions that have significantly impacted your career?
- How has your approach to financial planning evolved over the years?
- What unique perspective do you bring to financial planning due to your extensive experience?
- What is the typical profile of your clients? (e.g., demographics, profession, income level)
- How many clients do you currently serve?
- Have you noticed any shifts in your client demographic over time?
- Can you describe your ideal client?
- How do you manage relationships with long-term clients?
Services and Offerings
- What range of services do you currently offer to your clients?
- How have the services you offer evolved over time?
- Are there any services you’ve discontinued over the years? If so, why?
- Are there any new services you are considering offering in the future?
- What is your most popular service, and why do you think it is so?
- Can you describe your investment philosophy?
- How has your investment philosophy changed over time?
- How do you explain your investment philosophy to your clients?
- How does your investment philosophy align with current market trends?
Financial Planning and Strategy
- How do you develop a financial plan for your clients?
- How often do you revisit and revise client those financial plans?
- Can you share an example of a financial plan you’ve implemented that resulted in great success?
- How do you tailor your financial strategies to accommodate a diverse range of client needs and goals?
- How do you approach risk management?
- How have changes in financial regulations affected your approach to risk?
- How do you educate your clients about risk and uncertainty?
- Can you give an example of how you have helped a client navigate a significant risk?
- How have you incorporated technology into your practice over the years?
- How do you see technology playing a role in your practice in the future?
- Have you faced any challenges with implementing or adapting to new technologies?
- What digital tools do you find most useful in your day-to-day operations?
- Do you have a succession plan in place for your practice?
- If so, how have you prepared your clients for a potential transition?
- If not, what are your plans for your practice moving forward?
Continuing Education and Professional Development
- How do you stay current with industry trends and changes?
- Are you involved in any continuing education or professional development opportunities?
- How has ongoing learning influenced your practice?
- How have you grown your business over time?
- What marketing strategies have been most effective for you?
- How do you approach client acquisition and retention?
- How do you differentiate your practice from competitors?
Challenges and Successes
- What have been your biggest challenges in your practice, and how have you overcome them?
- Can you share some of your most significant successes?
- How have these challenges and successes shaped your approach to your practice?
- Where do you see your practice in the next 5-10 years?
- What changes do you anticipate in the financial advising industry?
- How are you preparing your practice for these potential changes?
- What legacy would you like to leave in the financial advisory field?