Are You a Fiduciary 100% of the Time?
In 2026, knowing whether your financial planner is a fiduciary isn’t just helpful it’s non negotiable. Why? Because money advice tied to conflict laced incentives isn’t advice. It’s sales.
A fiduciary is legally obligated to put your best interests first. That means they can’t steer you toward a product because it gives them a fat commission. But here’s the tricky part: not all advisors are fiduciaries all the time. Some wear multiple hats acting in your best interest in one breath, and pushing a high fee fund in the next. That’s where the “suitability” standard comes in. It sounds okay, but it just means the advice has to be “good enough,” not necessarily best for you.
So when you ask, “Are you a fiduciary always?” you’re getting straight to the heart of trust. If they dodge the question, rethink the relationship.
Want to go deeper? Read more on how fiduciary duty protects your financial interests.
How Are You Compensated?
Let’s cut to it how a financial planner gets paid can shape the advice you get more than you think. There are three main models: fee only, commission based, and hybrid. Fee only means you pay a set amount directly to the planner, and that’s it. No kickbacks, no product sales they work for you, not the fund company. Commission based planners, on the other hand, earn money when you buy financial products they recommend. That doesn’t automatically mean bad advice, but it does introduce bias. Hybrid models? A mix of both flag that as something to dig deeper into.
Too often, the danger isn’t just what’s being sold it’s what’s not being disclosed. Recurring fees for assets under management, hidden fund expenses inside mutual funds, and vague “planning fees” that stack up over time can all fly under the radar if you’re not asking directly.
Bottom line: you want full transparency. Ask how they’re compensated. Get it in writing. And if the answer feels slippery, it’s okay to walk away. It’s your money they should be working to earn your trust.
What Services Do You Actually Provide?
Not all financial planners do the same job. Some are laser focused on investments, while others offer broad, integrated advice. If you’re expecting help with retirement planning, insurance analysis, estate planning, or reducing your tax bill and they only manage portfolios you’re going to be disappointed.
Ask them for a menu seriously. What’s in scope? What do they help with directly, and what do they refer out? Clarity here saves you from surprise fees and gaps in your plan. Some planners charge extra for tasks like drafting a retirement income strategy or reviewing insurance policies. Others bundle it all into one flat fee.
Bottom line: know what you’re paying for, and make sure it fits your financial life not just their business model.
What Is Your Experience With Clients Like Me?
Not all financial planners are built for your situation. Someone with decades of experience helping retirees manage drawdowns and Medicare doesn’t automatically get the nuances of a dual income family juggling daycare bills and saving for college. It’s not just about experience it’s about relevant experience.
Ask for examples. No need for client names, but you should get a sense of how they’ve helped people like you. What strategies did they use? What kinds of outcomes did they support? If they stutter or pivot to generalities, it’s a red flag.
And if you’ve got something specific going on say cross border income, a looming business sale, or major debt you don’t know how to tackle don’t gamble on a generalist. Find someone who speaks your language and has walked your road. Specialization matters more than it ever has.
How Will We Work Together?
You’re not just hiring someone to tell you what to invest in you’re building an ongoing working relationship. So ask how that actually plays out. How often will you meet? Are those meetings in person, on video, or just emails and phone calls? What happens in between can you reach them with questions, or are you waiting three weeks for a reply?
In 2026, tech is no longer a bonus it’s the baseline. Your financial planner should offer a clean digital dashboard where you can track everything in real time: cash flow, investments, goals, spending. Automated reports and AI driven modeling should help stress test your plan without needing a 90 minute call every time the market shifts. If their tools feel clunky or outdated, that’s a red flag.
Good planners also adapt. Your life doesn’t stand still, and neither should your financial strategy. Whether it’s a new job, a baby, or a cross country move, ask how often they review and revise your plan. Customization should be the norm, not a luxury.
Bonus: Red Flags to Watch For
Not all financial planners are created equal and some will waste your time or worse. If you hear vague answers when you ask how they get paid, steer clear. A trustworthy planner won’t flinch when breaking down their compensation model. If they dodge or talk in circles, they’re likely hiding commissions, percentage based incentives, or recurring charges that erode your bottom line.
Next, beware of any meeting that feels more like a product pitch. If you’re getting pushed hard toward life insurance, annuities, or investment products before a plan is even discussed, walk away. A real financial planner starts with your goals, not their sales quota.
Lastly, don’t accept verbal promises without documentation. If they don’t offer a clear written strategy or a system for regular follow ups, that’s not a plan it’s a guess. In 2026, you deserve more than that. Look for professionals who put everything on paper and back it up with structured, predictable check ins.
Choosing the right planner isn’t just about qualifications it’s about alignment and accountability. Start with trust, and build from there.