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CFPs: What We Wish Our Clients Would Ask Us

When you meet with a financial planner, you need to make sure you ask the right questions (Bernie Madoff, anyone?). We rounded up two of our contributing CFPs to answer the question: What do I wish my clients asked me?

If something were to happen to you, who will be in charge of my money?

This is one Tom Ruggie of Ruggie Wealth Management wishes he heard more often. At his firm, there is a succession plan in place. In addition, they have a team advising concept so most clients have two CFPs working for them at all times. For Bill Losey of Bill Losey Retirement Solutions, it’s a little trickier since he has his own shop. He says he has identified a younger CFP who he likes and trusts to work with his clients if anything were to happen to him.

How do I know I can trust you?

This one is heard more often since the financial crisis has wiped out so many people’s investments and brought the crooks in the business out of the woodwork. And the fact is, you really don’t know, Losey says. But he takes great paints to make his clients comfortable with him, going so far as to invite them into his home where he works. In addition, he has joined with the National Ethics Bureau, which requires a full background check to provide his clients with added piece of mind.

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