Patrick Gingras, Regional President and Senior Managing Director
Starting a relationship with a financial advisor is an important step in pursuing your financial goals. Establishing clear expectations from the outset helps foster a partnership built on trust, transparency, and open communication. Knowing the right questions to ask can set the foundation for a productive, long-term relationship.
Patrick Gingras, Regional President, Senior Managing Director, shares the five questions he recommends asking:
1. Are you a fiduciary?
A fiduciary is legally obligated to put your best interests first. By knowing this, you can be sure your advisor is aligned with your financial well-being, not incentives that may benefit them.
2. Can I speak with other clients of yours?
Hearing firsthand from current clients provides insight into the advisor’s approach, communication style, and the quality of service you can expect.
3. How often should we be in contact?
Clarifying the frequency of meetings, updates, and check-ins helps avoid misunderstandings and keep you knowledgeable that your financial plan stays on track.
4. How do you get paid?
Transparency about compensation — whether fees, commissions, or a combination — enables you to understand potential conflicts of interest and the value of the services provided.
5. Do you understand my goals and challenges?
A strong advisor will take the time to learn about your specific circumstances, priorities, and concerns. Effective guidance starts with a deep understanding of your financial picture.
Expectations Start with Communication
Taking these steps early in the relationship helps both you and your advisor create a clear roadmap for success. It helps to ensure that your conversations are focused, your goals are understood, and your expectations are aligned.
“The best advisor-client relationships are built on openness and clear expectations,” Patrick explains. “When both sides know what to expect, you can focus on what really matters — pursuing your financial goals with confidence.”
At MAI, we are committed to supporting you every step of the way. If you have questions or would like to learn more about our team and how we can assist you, please reach out. Your journey to simplify, protect, and grow your wealth starts today.
Please send your questions, comments, and feedback to: info@mai.capital. The opinions and analyses expressed herein are subject to change at any time. Any suggestions contained herein are general, and do not take into account an individual’s or entity’s specific circumstances or applicable governing law, which may vary from jurisdiction to jurisdiction and be subject to change. Distribution hereof does not constitute legal, tax, accounting, investment, or other professional advice. Recipients should consult their professional advisors prior to acting on the information set forth herein. In accordance with certain Treasury Regulations, we inform you that any federal tax conclusions set forth in this communication, were not intended or written to be used, and cannot be used by any taxpayer, for the purposes of avoiding penalties that may be imposed by the Internal Revenue Service.
