Know The Difference™ Checklist

Before you commit to a financial advisor, make sure you ask these questions about critically-important details. Get a direct answer, and get it in writing. Your hard work and savings deserves it.

Are you a fiduciary?

Only true fiduciaries are required to act in their client’s best interest.

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Are you a fee-only advisor?

Fee-only advisors minimize conflicts of interest. They don’t accept compensation based on product sales, or sell proprietary investments, or accept payments to put certain funds in your accounts, and they generally provide more comprehensive advice.

Fee-based advisers may charge both fees and commissions based on the products they sell. Because fee-based or commission-based advisers generally don’t have a “duty to disclose” their method of compensation, it can confuse clients who may not fully understand when their fee-based advisers are working for commissions.

There is an inherent “moral hazard” with commission-based advisers. A “moral hazard” is a situation where a party has a tendency toward being more willing to take a risk, knowing that the potential costs or burdens of taking such risk will be borne, in whole or in part, by others.

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Do you offer comprehensive wealth management?

Including retirement planning, tax planning, estate planning, as well as investment management.

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Do you communicate with your clients every week?

Lots of advisors will be in touch with you – when they have something new to sell.

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Do you use an independent custodian?

Seek out financial advisors who use an independent custodian to hold your money, instead of holding it themselves.

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Have you been recognized by key industry websites and publications?

Annex Wealth Management is currently named on Financial Times’ Top Financial Advisors, Financial Advisor’s Top Advisor, Barron’s Top Advisor, and CityWire’s Future 50 RIAs.

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View Annex Wealth Management’s Client Relationship Summary →

96.7% – Find out why we’re so proud of this number. →