The Boldin Financial Planner Take control of your plans. Retire earlier, with more security and find financial confidence.
Get expert support Make sure your plan is set up correctly with a coach. Or, talk to a CERTIFIED FINANCIAL PLANNER® from Boldin Advisors for even more guidance and support.
Resources Fuel your financial planning know-how
Blog Your guide to financial planning and retirement
July 1, 2025 • 8 minutes
A good financial advisor acts as a fiduciary. They explain fees in straightforward terms, and answer your questions without making you feel small for asking.
Trusting someone with your retirement savings is a big step, and it’s fair to feel nervous about it. This guide walks through what to verify and what to ask, plus when a polished answer should send you looking elsewhere instead.
About 12% of financial advisors carry some kind of disclosure on their public record, according to FINRA data reported by InvestmentNews and an academic study analyzing the same FINRA BrokerCheck database. FINRA’s own data puts the rate at roughly 12%, while a landmark study by economists Mark Egan, Gregor Matvos, and Amit Seru, published in the Journal of Political Economy and distributed by the National Bureau of Economic Research (NBER), found a nearly identical 12.7% total disclosure rate across more than 1 million advisor records.
A disclosure can mean a customer complaint, a firm termination, a bankruptcy, or a regulatory sanction. Disclosures alone don’t make an advisor dangerous, and a clean record isn’t proof of good advice either. Checking someone’s disclosure history is what protects you, more than charm or polish.
A fiduciary puts your interests ahead of their own. Asking whether they are a fiduciary is one of the fastest ways to evaluate them. Ask them: are you a fiduciary at all times, or only in certain situations?
Advisors registered with the SEC or a state as a Registered Investment Adviser hold this standard. It applies to every recommendation they make. Brokers often don’t hold that standard. Insurance agents selling annuities often don’t either. That distinction matters when the recommendation that serves you best differs from the product that compensates them most.
If someone hesitates when you ask this question, push for a straight answer. The same goes if they answer with something vague about always doing what’s best for clients. A real fiduciary can say yes without flinching.
Three credentials matter most: CFP®, CFA (Chartered Financial Analyst), and ChFC (Chartered Financial Consultant). Each requires an exam and continuing education. Each one also comes with a public disciplinary record anyone can check.
The CFP Board runs a free lookup tool that shows whether a financial advisor holds an active certification. It may also show disciplinary history or other disclosures. FINRA BrokerCheck covers a wider range of financial professionals. It shows any complaints, terminations, or sanctions on file, even for advisors who aren’t CFP® professionals.
Neither tool takes more than a minute to search. Check before calling, not after you’ve already started to like someone.
Financial advisors get paid through a flat fee, a percentage of the assets they manage, or commissions on what they sell you.
Fee-only advisors charge a set rate and never earn a commission from what they recommend. That removes an entire category of conflict from the relationship. Fee-based advisors mix a fee with product commissions, so part of their income still depends on what you buy. Commission-only advisors earn money only when you purchase something.
None of these structures is wrong on its own. A commission-based agent may still make a recommendation that fits your needs in a particular situation. But knowing which model you’re dealing with tells you where to look for conflicts. Ask about it early in the conversation, before any paperwork gets signed.
How are you paid, and do you act as a fiduciary? Bring those two questions, plus four more, to your first meeting, and watch how the advisor handles them.
What’s your investment philosophy, and can you explain it in plain English? How often will we meet, and who do I call if something changes? What happens if I want to leave? Can I see your Form ADV, which discloses your fees and any conflicts of interest in writing?
The right advisor answers these without hesitation or defensiveness. Someone who gets defensive, or who tries to rush past the fee question, is telling you something important.
A financial advisor who can’t explain things without jargon is a clear red flag. If a second attempt still produces jargon instead of a clear explanation, one of two things is going on: either the advisor doesn’t want you to understand, or the advisor doesn’t understand it either.
Watch for pressure to decide fast. That might look like a limited-time bonus, or a sense that you need to sign today. It can also show up as repeated calls before you’ve had time to think. A trustworthy advisor gives you time to feel confident in the decision.
If a disciplinary disclosure turns up on BrokerCheck or the CFP Board’s site, don’t wave it away. A friendly first impression doesn’t cancel out the record. Ask for a specific explanation and compare it with what’s on file.
Write down your accounts, your goals, and your questions before you ever sit down with an advisor. Vague goals produce vague plans, no matter how skilled the person across the table is.
A retirement calculator gives you real numbers to work from instead of guesses. Once you understand your starting point and retirement goal, the discussion moves from a general chat into concrete problem-solving.
Without your own numbers in hand, it’s easy to nod along with whatever an advisor proposes, even if it doesn’t fit what you need. Build a baseline plan first with a tool like the Boldin Planner. You’ll know within the first ten minutes whether an advisor’s recommendations match your reality or head somewhere else.
Wanting a second set of eyes is a common instinct, even after running your own numbers and doing the vetting yourself.
Boldin Advisors staffs CERTIFIED FINANCIAL PLANNER® professionals who are registered investment advisers, so fiduciary duty applies to everything they recommend. Pricing is flat-fee rather than a percentage of assets: a one-time Retirement Plan Checkup runs $3,200, and ongoing advisory starts at $1,200 a year, against the roughly $5,000 a year a typical 1% AUM fee would cost on a $500,000 portfolio. A free discovery session comes before any commitment. Advisors also work from your existing Boldin Planner data instead of a blank intake form.
A fee-only advisor’s paycheck comes from what you agree to pay them. That might be a flat rate or a percentage of your portfolio. Nothing else changes their income. A commission-based advisor’s pay depends on which products they sell, so their own paycheck can be affected as much as your outcome.
Before hiring a financial advisor, ask about their payment structure and their fiduciary status. Find out how often you’ll speak with them once you’re a client, and what the exit process looks like if the relationship doesn’t work out. Request their Form ADV too. It’s a public document that spells out fees and potential conflicts of interest in writing.
Every active CFP® certification is searchable through a public database the CFP Board maintains online. Type in the advisor’s name and you’ll see their certification status. Any disciplinary history shows up too. Check this ahead of scheduling a meeting, since the search itself takes less time than scheduling one.
Only advisors registered as Registered Investment Advisers carry fiduciary duty at all times, which means your interests come first by law. Many brokers only have to recommend something suitable, a much lower bar. It still lets a product that pays them more edge out one that serves you better.
A financial advisor who dodges questions about their own pay, pushes you toward a decision before you’ve had time to think, or can’t explain a strategy in plain terms deserves a second look. A disciplinary record on FINRA BrokerCheck or the CFP Board’s database is one of the clearest warning signs available. It takes only a minute to check.
Take financial wellness into your own hands and do it yourself retirement planning: easy, comprehensive, reliable.
Debt advice often stops at interest saved, but you can see whether paying off debt faster changes your retirement date using planning tools.
U.S. annuity sales hit $464 billion in 2025 and are still climbing in 2026. Here’s what’s driving the surge.
Test your financial skills with this 10-question CFPB self-test and see how your score compares to the national average of 50.
