What are the best practices for working with an investment advisor?

Maintain open communication, review goals regularly, understand your investments, and stay engaged while allowing professional expertise to guide decisions.

Successful advisor-client relationships require active engagement and clear communication from both parties. Here are key best practices for maximizing the value of your advisory relationship:

• Set expectations for meeting frequency (quarterly, semi-annually)
• Determine preferred communication methods (email, phone, video)
• Agree on response time expectations for questions
• Request regular portfolio reports and performance updates

• Share complete financial information, including assets held elsewhere
• Communicate changes in income, expenses, or life circumstances
• Discuss concerns or dissatisfaction promptly
• Provide feedback on advisor recommendations and services

• Ask questions about investment strategies and rationale
• Understand the risks and expected returns of your portfolio
• Review statements and reports thoroughly
• Stay informed about market conditions affecting your investments

• Understand that markets are volatile and short-term performance varies
• Focus on long-term goals rather than quarterly results
• Trust the investment process while maintaining appropriate oversight
• Recognize that good advisors will sometimes recommend difficult but necessary changes

• Reassess financial goals annually or when life changes occur
• Update risk tolerance as circumstances evolve
• Adjust strategies for changing time horizons
• Celebrate progress toward achieving financial objectives

As David Hendrix from Hendrix Strategy emphasizes, the best client relationships are partnerships where both parties contribute actively to achieving financial success.

For personalized guidance, consult a Investment Advisory specialist on TinRate.