Should I fire my financial advisor? Questions to ask first

The short answer: Only you can decide that, and we won't tell you what to do. What we can do is help you check the facts first: what you paid, how you did compared with a simple index fund, whether your money fits your goals, and how often your advisor really talks to you.

Get the facts before the feelings

A bad year in the market isn't the same as a bad advisor. Look at several years, after fees.

Check your results against a simple benchmark

How would a low-cost index portfolio with the same mix have done, with the same deposits and withdrawals?

Check the fit

Is your money set up for your age and your goals? Is money you need soon kept safe?

Check the service

When did your advisor last call you? When did you last review your goals together?

Check for conflicts

Are you in funds run by your advisor's own firm? Ask how they were chosen and how your advisor is paid.

Ask your questions out loud

Write them down and ask them at your next meeting. Their answers will tell you a lot.