49 Great Discovery 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?

Clientele

• 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?

Investment Philosophy

• 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?

Risk Management

• 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?

Technology Use

• 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?

Succession Planning

• 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?

Business Development

• 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?

Future Outlook

• 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?