My husband and I had an intro call with an investment advisor. Small firm, maybe 5 people total. It seemed to go fine, we mutually asked some questions, discussed the process, our goals, his strategy, qualifications etc.
I followed up with some questions via email that we didn't cover live:
1) Total AUM of the firm
2) Some historical performance info – general info fine
3) Recap of his fee strucure (lightly touched on in the call but I wanted it in writing)
He replied back just saying – he doesnt think it is a good fit for the investment services, but would be happy to do the free planning & strategy meeting. No other rationale.
Did we do something wrong? Were these bad questions to ask? Did he decide we are small beans or something? Or is this a red flag on his part? Curious how you read this.
Note: My husband is trying to give him a call to get any feedback maybe he didn't want to put in writing.
DQ'd by an investment advisor – where did I go wrong?
byu/Useful-Ant-6903 inpersonalfinance
Posted by Useful-Ant-6903
3 Comments
I think, given his suggestion for the free meeting, maybe he is hinting that you wouldn’t be bringing in enough assets to warrant their services.
Sounds like you dodged a bullet. I would not engage with any professional unwilling to answer basic questions about their services in writing.
There are a ton of financial advisors – why are you chasing after this one?