Also, I had been intrigued with some of the DFA offerings, which can only be obtained from investment advisors.
One fellow made the joke that the investment advisor's real job is to prevent the client from making bad decisions - if I had used an advisor earlier, I would have saved $6000 in losses on SNDA! Ah the value of hindsight!
In the process of interviewing my most recent advisor, he referred me to several government regulatory sites.
In general check www.sec.gov and www.nasd.org. You can find specific disclosures at the SEC's Investment Advisor Public Disclosure web site, which you can visit here.
Several questions were interesting to me:
- How much was the advisor managing?
- Would he have time for me if he had too many clients?
- Is he making enough money to stay in the profession?
- Was his income coming from advisory fee-based services or investment management asset based fees? If so, how much from each?
- Are there any conflicts of interest - specifically commissions or ownerships in investments?
The forms are a bit much to go through, you do have to click around, but it was reassuring.
Does anyone have any other questions or points I should investigate when considering an investment advisor?
Have a wonderful day,
PS One of the key benefits from this approach will be the transition of our holdings from life cycle funds to more transparrent asset class specific index funds reballanced as necessary. From this approach we can consider all of our assets in a single asset management strategy, rather than retirement, non-retirement and college savings each with their own strategy.