How to Choose a Financial Advisor: Ten Questions to Ask, What You Will Often Hear, and How We Answer

Choosing a financial advisor is one of the more consequential financial decisions you will make, and one of the more confusing ones. Almost anyone can call themselves a financial advisor, wealth manager, or financial consultant. The titles sound alike, but the obligations, compensation, and depth of advice behind them can be very different.

This guide walks through the questions worth asking, the answers you are likely to hear, and why the difference matters. Because we get asked these questions ourselves, we have included how Beaird Harris answers each one.

First, interview like you mean it

Most people meet with two or three advisors, ask each one different questions, and then try to compare impressions weeks apart. Memory is unreliable, and small things, like who had the nicer office, end up carrying more weight than they should.

A better approach is a structured interview. Ask every advisor the same questions in the same order. Score each answer from 1 to 5 as soon as you hear it, before moving to the next question. If you have a spouse or partner, both of you should score independently and compare notes only after all the meetings are done. At the end, the totals give you a clearer picture than your gut alone. Your gut still gets a vote, in the last question.

1. Are you a fiduciary for me at all times, and will you confirm that in writing?

What you will often hear: "Yes, we act in your best interest." Sometimes that is true all the time. Often it is true only for the advisory portion of the relationship, while the same person can switch to a sales role for insurance, annuities, or brokerage products without telling you the standard just changed. Some will not put anything in writing.
Why it matters: A verbal yes means little if the paperwork says otherwise. The standard you are owed determines whether the advisor must disclose conflicts and put your interests first, or simply avoid recommending something unsuitable.
How Beaird Harris answers: Yes, at all times and in writing. Beaird Harris Wealth Management, LLC is an SEC-registered investment adviser and serves every client as a fiduciary in every part of the relationship. We are not a broker-dealer and we do not switch roles. The obligation is spelled out in our Form ADV and our client agreement, which you receive before becoming a client.

2. How are you compensated, and does anyone other than me pay you?

What you will often hear: A fee is quoted, but the full picture is harder to get. Commissions on products, revenue sharing from fund companies, referral payments, or trails on insurance may sit underneath the stated fee and are easy to miss unless you read the disclosures closely.

Why it matters: An advisor who earns more by recommending one product over another has a conflict you are paying for, whether or not it shows up on an invoice.

Follow-ups worth asking:

• Do you receive anything for referring me to attorneys, insurance agents, or other specialists?

• Does anyone at the firm participate in sales contests or vendor incentive programs?

• What is the all-in cost of working with you, including the expense ratios of the investments themselves? A low advisory fee paired with expensive funds is not a bargain.

How Beaird Harris answers: We are fee-only. Our clients pay us directly, as a percentage of the assets we manage, and no one else pays us anything. We do not earn commissions, sales incentives, or revenue sharing from the investments we recommend. No one at Beaird Harris receives referral fees for introducing you to outside professionals, and we do not participate in sales contests or vendor incentive programs. When we refer you to an attorney or other specialist, it is because we think they are the right fit. We can show you the all-in cost, including fund expenses, before you become a client. Because we use low-cost funds, the advisory fee is most of what you pay. Our fee schedule is in our Form ADV Part 2A. Tax and accounting services through Beaird Harris, PLLC are billed separately and explained up front.

3. What credentials do you and your team hold?

What you will often hear: A range of titles, some meaningful and some that require little more than a weekend course. "Financial advisor," "wealth manager," and "retirement specialist" are not regulated terms and do not on their own indicate training.

Why it matters: Designations like CFP, CFA, CPA, PFS, and AEP require examinations, experience, continuing education, and a code of ethics. They are not a guarantee, but they are a real filter.

How Beaird Harris answers: Our team holds a range of professional designations, including CERTIFIED FINANCIAL PLANNER (CFP), Chartered Financial Analyst (CFA), Certified Public Accountant (CPA), Personal Financial Specialist (PFS), Accredited Estate Planner (AEP), and Investment Adviser Certified Compliance Professional (IACCP). Our Chief Investment Officer holds both the CFA and CFP designations. The mix matters: it means the people advising you bring depth in investments, tax, estate planning, and the regulatory side of the business.

4. What does your planning process look like, and what is included in your fee?

What you will often hear: "We do comprehensive planning," followed by a relationship that is mostly about the portfolio. The plan may be a one-time document produced at onboarding and rarely revisited, or planning may be an extra charge.

Why it matters: Your life changes. A plan that is not maintained becomes a snapshot of a situation that no longer exists.

How Beaird Harris answers: Our fee covers ongoing financial planning and investment management, not just the portfolio. That includes retirement planning, cash flow and distribution strategy, tax planning coordination, estate and legacy planning, asset protection, insurance review, charitable giving, and education funding. You have a written plan that we update as your life changes, and we meet on a regular schedule rather than only when something goes wrong.

5. How is tax planning handled?

What you will often hear: "We are tax-aware," and then, "you should check with your CPA." The advisor and the CPA rarely talk. The client becomes the messenger, and decisions get made with half the information.

Why it matters: Roth conversions, withdrawal sequencing, gain realization, charitable giving, and business sale structure all sit at the intersection of investing and tax. When two separate firms each own half the decision, the result is usually a compromise or a missed opportunity, and the burden of coordinating falls on you.

How Beaird Harris answers: Beaird Harris is a CPA firm and a wealth management firm under one roof. For clients who use both, your advisor and your CPA work as one team, so these decisions are made with the full investment and tax picture in view. You do not carry information between two offices, and nothing falls through the gap. That said, many of our wealth management clients have a longstanding relationship with an outside CPA, and we are glad to work alongside them. Either way, we serve as the quarterback: we make sure the tax strategy and the investment strategy are talking to each other, and we take responsibility for the coordination so you do not have to.

6. What is your investment philosophy, and how do you manage costs and risk?

What you will often hear: Confidence about outperforming the market, protecting you from the next downturn, or proprietary strategies that are hard to explain. Sometimes the answer is vague because the philosophy changes with whatever is selling.
Why it matters: Promises to beat the market or avoid losses are not credible, and strategies built on forecasting tend to be expensive and inconsistent. You should be able to understand the approach, and it should not change based on headlines.

Follow-ups worth asking:
•    Does every advisor at the firm follow the same investment approach, and who decides what that approach is?
•    What was the last change you made to client portfolios, and why? The answer reveals whether decisions are driven by           process or by headlines.

How Beaird Harris answers: We take a disciplined, evidence-based approach. We build broadly diversified portfolios using low-cost funds from managers such as Dimensional, Avantis, and Vanguard, allocated to your goals, time horizon, and risk tolerance rather than to market forecasts. We do not time the market or promise to beat it. Our Investment Committee, led by our Chief Investment Officer, sits at the helm of that process. The committee sets the firm's investment strategy, vets and approves every fund we use, and reviews the portfolios on a regular schedule, so every Beaird Harris advisor is working from the same playbook rather than running a personal strategy. Changes to portfolios are deliberate and infrequent, and we can tell you what the last one was and why. Portfolios are managed with taxes in mind, including asset location and tax-loss harvesting where appropriate.

7. Who holds my assets, and how will I receive statements?

What you will often hear: Usually a reputable custodian, but not always. In some arrangements the advisor or an affiliated entity holds the assets, or statements come only from the advisor's own system.

Why it matters: Independent custody is your primary protection against fraud. You should be able to see your money without going through the advisor.

How Beaird Harris answers: Your assets are held at an independent custodian, primarily Charles Schwab or Fidelity Investments, in accounts titled in your name. Beaird Harris does not hold your assets in our own accounts. You receive statements directly from the custodian and can log in to see your accounts at any time. In certain situations, such as when a client gives us online access to an outside account or asks a member of our firm to serve in a trustee or similar role, SEC rules treat that as custody. Where that applies, we disclose it in our Form ADV and follow the additional safeguards those rules require. We also review our custodial relationships annually as part of our compliance program.

8. Who will I work with day to day, and what happens if that changes?

What you will often hear: A single advisor who is the entire relationship. If that person retires, leaves, or is bought out, your relationship goes with them or gets reassigned to someone you have never met.

Why it matters: You are choosing a relationship that may need to last decades. The firm behind the advisor matters as much as the advisor.

How Beaird Harris answers: We work as a team, by design. You will have a lead advisor who knows your situation and owns the relationship, but you will also get to know others on our team. Several of our advisors have their own areas of deep expertise, whether in estate planning, tax strategy, investments, or planning for a specific profession, and we pull them in as your situation calls for it. The more complex your financial life, the more of our team you are likely to meet. That also means more than one person knows your situation, you are never dependent on a single individual, and there is natural continuity if your lead advisor ever steps back. Beaird Harris is an established, partner-owned firm with multiple partners across wealth management and tax, so the relationship belongs to the firm, not to one person.

9. What types of clients do you typically serve?

What you will often hear: "Everyone." A firm that serves everyone is usually built for no one in particular, and the advice tends to be generic.

Why it matters: An advisor who regularly works with people in your situation has already seen the decisions you are about to face.

How Beaird Harris answers: We work primarily with high-net-worth individuals and families, business owners, and people approaching or living in retirement. We have particular depth with physicians and other healthcare professionals, whose compensation structures, practice ownership questions, and tax situations tend to be more involved than most. We also work with high-earning young professionals through our Accumulator program, built for people who are early in their wealth-building years and want to get the fundamentals right before the numbers get large. Many of our clients came to us because they wanted their tax and investment decisions handled by the same team.

10. Can I see your Form ADV?

What you will often hear: Hesitation, or a promise to send it later. Some advisors are not registered investment advisers and do not have one, which itself tells you what standard they operate under.

Why it matters: Form ADV is the regulator-required disclosure of fees, conflicts, services, and disciplinary history. An advisor who is reluctant to share it is telling you something.

How Beaird Harris answers: Yes. Our Form ADV Part 2A, the Part 2B brochure supplements for our advisors, our Form CRS, and our Privacy Policy are all linked in the footer of our website, and they are also available at adviserinfo.sec.gov under Beaird Harris Wealth Management. We encourage you to read them, and to check any advisor you are considering the same way.

Bonus: 11. What is your overall impression?

This one is for you, not the advisor. Answer it before you leave the parking lot. Did they explain things clearly, or hide behind jargon? Did they listen, or wait to talk? Would you be comfortable telling this person everything about your finances? Could you picture your kids working with this firm someday?

Score it 1 to 5 like the others. The earlier questions test competence and conflicts. This one tests trust.

A Few Minutes of Homework

Before you hire anyone, look them up. The SEC's Investment Adviser Public Disclosure site (adviserinfo.sec.gov) and FINRA's BrokerCheck (brokercheck.finra.org) show registration, fees, conflicts, and disciplinary history. Disclosures are not always deal-breakers, but they deserve an explanation.

About Beaird Harris

Beaird Harris is an independent firm that brings together tax and wealth management under one roof. Beaird Harris Wealth Management, LLC is an SEC-registered investment adviser and serves clients as a fiduciary. Beaird Harris, PLLC is a CPA firm providing tax and accounting services. Working together, our advisors and CPAs coordinate the decisions most firms handle separately, so your investment strategy and your tax strategy are built to fit each other.

If you are evaluating advisors, we would welcome the conversation.