10 Questions to Ask Financial Advisors
Running Point and its chief investment officer, Michael Ashley Schulman, CFA, were quoted by U.S. News & World Report in an article — by reporter Kate Stalter, “10 Questions to Ask Financial Advisors” — regarding hiring a person who will have intimate details about your life, your health, your family, and your financial situation.
Quoted article excerpt is below:
What Brings Meaning to Your Life?
Advisors often want to share more of their own stories with prospective clients to help build rapport and to understand if the person or couple is a good fit.
“It’s entirely reasonable to want to understand your financial advisor as a person,” says Michael Ashley Schulman, partner and chief investment officer at Running Point Capital Advisors in El Segundo, California.
“Clients should ask how and why their advisor got started in the business and what they enjoy doing outside of work,” he says. “These can be deeply illuminating questions that highlight the advisor’s personality, experience, commitment and passions.”
Asking those in-depth questions, he says, and paying attention to their responses, can give prospective clients insights into an advisor’s core values to see if they match up.
“Clients often discover that having a strong alignment in personal values plays a pivotal role in their choice between advisors,” he says. “What’s more, the greater the overlap in values, the higher the chances of building a successful and enduring relationship that benefits both parties.”
There is a profound difference between information and meaning.
Warren Bennis, author and organizational & leadership consultant
Disclosure: The opinions expressed are those of Running Point Capital Advisors, LLC (Running Point) and are subject to change without notice. The opinions referenced are as of the date of publication, may be modified due to changes in the market or economic conditions, and may not necessarily come to pass. Past performance is not indicative of future results. Forward-looking statements cannot be guaranteed. Running Point is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about Running Point’s investment advisory services and fees can be found in its Form ADV Part 2, which is available upon request. RP-23-103
