5 Key Questions When Looking for a Financial Advisor


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Meeting with a financial planner, if you’ve never done it before, can be intimidating. However, fear should not hold you back from growing your empire and building the wealth you deserve, amiga. We spoke with Latina finance jefa Veronica Rodriguez, Private Client Advisor at J.P. Morgan Wealth Management, on our key questions about meeting and finding a financial advisor that can help us work towards our goals.

We take care of ourselves in a multitude of ways. We go to the doctor when we have a cold. We go to our therapist when we’re caring for our mental health. We go to an optometrist when we need help with our vision. Among all of these, the common thread is our health. What if we were to consider our wallet’s health and see a specialist that can bring our wealth to good health?

“People often talk about physical health and mental health,” said Veronica Rodriguez, Private Client Advisor at J.P. Morgan Wealth Management. “Financial health and investing for the future are also very important, but it’s something many people might put on the back burner. They might think that as long as their bills are paid, that’s enough. But if they’re not investing for the future, what does that look like for their later self? What does that mean for their long-term goals and how they will live during retirement?

“What can I expect after a consultation with the advisor? How often should I meet them afterward?” 

Once you commit to an advisor, you’re going to have some homework, and it’s going to take some work on your behalf to create this partnership. 

“The first thing that I do with a new client is sit down with them and talk about their goals. From there, we work together to create a financial strategy that is customized to their unique needs,” shares Veronica. “Everyone’s financial situation is different. As an advisor, I help clients create a custom-tailored plan that is based on their personal financial goals, risk tolerance and investing timeline.” 

“How often you meet with your advisor will depend on your personal situation and communication preferences,” says Veronica. “Periods of market volatility are often a good time for me to connect with clients and reiterate to them the importance of maintaining a long-term view when it comes to investing and sticking to their plan. Money can be emotional. One of my roles as an advisor is being that voice of reason to my clients and reminding them the importance of their long-term plan.”

“How much budget should I set aside when hiring a financial advisor?”

As we mentioned earlier, the Amigahood has mentioned that lack of finances or not knowing what to pay has been a deterrent in seeking a financial advisor. And while it could be very easy for us to just give you a price point or range for what you should be paying an advisor, prices vary widely. However, Veronica mentions that right away, as you meet with advisors, you can ask what their fees and rates are. 

“Transparency is very important,” shares Veronica. “They should tell you what their fees are and be able to clearly communicate that to you. What is it exactly? How do they get paid? What is the fee going to look like on your statement?”

And keep in mind that you typically shouldn’t pay for a consultation when first meeting with an advisor. Those meetings are made for you to get to know the advisor, to see if he or she will be a good fit. 

“What are the green flags when looking for a financial advisor? What are some red flags?

As Veronica mentioned in the last question, transparency is crucial when meeting with an advisor. There should be no tricks under the rug when it comes to investing your money and trusting an advisor with your finances. “Transparency is important. Planning is important. Communication is super important,” shares Veronica.

“It’s important that your advisor is actively listening to you and that you feel heard. Your advisor should be taking the time to learn what your needs are and understand your goals,” says Veronica. “Money is so personal, so it’s important that you feel comfortable openly discussing your finances with this person.”  

“If you don’t feel comfortable being open and honest with this person, that’s a red flag,” says Veronica. “Another example, let’s say you have a partner and work with an advisor together. You both should have a working relationship with the advisor and be actively involved in the planning process. If your advisor is only speaking to your partner and ignoring you, that is a red flag.”

Now, amiga, it’s time to set that appointment with a financial advisor that understands your needs and goals. Ask for the help when you need it. You don’t need to try to figure it all out on your own – there are financial advisors waiting to help you on your journey and answer all of your questions, no matter how big or small. And if you have any other questions, we invite you to learn more from J.P. Morgan Wealth Management and their financial advisors.

The views, opinions and estimates expressed herein are those of the speakers and are subject to change without notice. Information herein may differ from those expressed by other areas of J.P. Morgan. This information in no way constitutes J.P. Morgan Research and should not be treated as such. The views contained herein are not to be taken as an advice or a recommendation to buy or sell any investment in any jurisdiction and there is no guarantee that any of the views expressed will materialize. Any forecasts, figures, opinions or investment techniques and strategies set out are for information purposes only; based on certain assumptions, current market conditions and are subject to change without prior notice. All information presented herein is considered to be accurate at the time of writing, but no warranty of accuracy is given and no liability in respect of any error or omission is accepted. This material does not contain sufficient information to support an investment decision and it should not be relied upon by you in evaluating the merits of investing in any securities or products. In addition, investors should make an independent assessment of the legal, regulatory, tax, credit, and accounting implications and determine, together with their own professional advisers, if any investment mentioned herein is believed to be suitable to their personal goals. Investors should ensure that they obtain all available relevant information before making any investment. It should be noted that investment involves risks, the value of investments and the income from them may fluctuate in accordance with market conditions and investors may not get back the full amount invested. Both past performance and yield may not be a reliable guide to future performance.

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