60 Questions Financial Advisors Ask

When you’re embarking on a new client relationship or meeting with a prospect for the first time, setting the right tone matters. That includes getting to know their needs and expectations better by asking questions and absorbing what they have to say. In addition to reading reviews, 73% of respondents say they want to talk to an advisor in person or over the phone when choosing a professional to work with, according to a 2025 Wealthtender survey of 500 U.S. households with $100,000+ in income.¹ There are certain questions financial advisors ask that may be helpful to include as you sit down for an initial conversation.

SmartAsset’s Advisor Marketing Platform (AMP) offers financial advisors services like client lead generation, automated marketing and more. Learn about SmartAsset AMP today.

60 Questions Great Financial Advisors Ask

The best questions to ask prospects, new clients or existing clients require more than just a yes or no answer. Asking open-ended questions encourages the individual you’re speaking with to think about what they want to say in detail, rather than giving an automatic response.

With that in mind, here are some helpful questions to ask when meeting with prospective, new and existing clients, grouped by category. And remember, you don’t have to try to fit all of these questions into the conversation. These are simply examples of talking points that you may need or want to cover.

Questions to Ask Prospective Clients

Consider asking these questions during your initial discovery meeting with a prospect:

What brought you here today?
What are your top three financial concerns right now?
What is one financial goal you would like to accomplish in the next year? 5 years? 25 years?
What do you feel most confident about when it comes to your finances?
Where do you feel least confident?
Have you worked with a financial advisor before? If so, what did you like/dislike about the experience?
If you’ve never worked with an advisor before, why are you interested in doing so now?
What type of input or level of control do you prefer when working with an advisor?
How do you like to communicate?
What benchmarks do you use to measure financial success?
How would you describe your money mindset?
Who are you responsible for financially, apart from yourself?
How many earners are in your household and what is your estimated annual income?
What is your net worth, and what’s the balance between assets and liabilities?
What are you hoping I can help you accomplish?

Questions to Ask New Clients

Consider posing these questions to clients at your first meeting prior to onboarding:

Who makes the financial decisions in your household and what does your decision-making process look like?
What life changes do you anticipate that could impact your financial plan? For example, is there a possibility that you may have to care for aging parents eventually?
Where are you career-wise, and where do you expect to be five, 10 or 20 years from now?
Can you tell me a little about how you’ve invested so far?
How would you describe your risk tolerance?
How would you rate your knowledge and level of confidence about investing?
If you could describe your financial situation in just three words, what would they be?
Do you feel that you’re ahead, behind or on an even pace with where you should be?
What keeps you up at night or gives you the most cause for concern when it comes to your money?
Are there other worries or concerns outside the scope of finance that you’d like to share?
If you could change one thing about your financial situation right now, what would it be?
What financial goals have you struggled with the most?
How would achieving those goals make you feel?
What’s most important to you where your money is concerned?
What’s most important to you outside of money?
What does your ideal retirement look like?
At what age would you like to retire?
At what age do you think you realistically will retire?
What would you like to happen to your wealth when you’re gone?
What kind of life insurance do you have?
If you haven’t purchased life insurance yet, what’s holding you back?
Do you anticipate needing long-term care at some point?
If the market were to crash tomorrow, how do you think you’d react?
How often would you like to hear from me?
What do you want the next steps in our professional relationship to be?

Questions to Ask Existing Clients

Consider incorporating these questions into a quarterly or annual client review:

How are you feeling about your financial situation right now?
Would you say you’re feeling more or less confident about your finances since the last time we met?
You said more/less confident. Can you tell me why?
How do you feel about the state of the market right now? Are you leaning more optimistic or pessimistic?
Have there been any significant life changes since the last time we met that might affect your financial plan? For example, have you gotten a raise or changed jobs?
What life changes may be on the horizon that we should discuss?
When was the last time you reviewed your portfolio?
If you haven’t checked your investments lately, what’s keeping you from doing so?
How satisfied are you with the investments I recommended last time we met?
Is there anything in your portfolio that you feel isn’t working for you?
How close are you to maxing out your retirement plan contributions for the year?
Have you experienced any financial surprises since the last time we spoke? For example, did you get a larger-than-expected tax bill?
When was the last time you reviewed your estate plan?
How does your family feel about your plan? What objections have they raised, if any?
Last time we met I asked you to do “XYZ task”. Can you tell me how much progress you’ve made?
We covered a lot of ground last time. What could we circle back on that you may still have questions about?
What questions do you have for me about your financial plan?
Are there any complaints you’d like to share at this time?
Do you have any friends or family members you think might benefit from a meeting with me?
When would you like to meet again?

Client Acquisition Simplified: For RIAs

Ideal for RIAs looking to scale.
Validated referrals to help build your pipeline efficiently.
Save time + optimize your close rate with high-touch, pre-built campaigns.

CFP®, CEO

Joe Anderson

Pure Financial Advisors

We have seen a remarkable return on investment and comparatively low client acquisition costs even as we’ve multiplied our spend over the years.

Pure Financial Advisors reports $1B in new AUM from SmartAsset investor referrals.

How to Ask Clients Questions Effectively

Financial advisors discussing potential questions to ask clients.

Asking the wrong questions could cost you a client if they find your questioning style intrusive or off-putting. Here are some do’s and don’ts to consider to keep the conversation on the right track.

Do…	Don’t…
Ask open-ended questions that keep the conversation moving forward.	Limit the conversation to questions that only require yes/no answers.
Practice active listening, repeating what clients are saying back to them to demonstrate your understanding.	Dominate the conversation by interrupting your client frequently, or talking more than you listen.
Keep the questions you ask relevant to the topic at hand.	Press clients to answer questions they clearly feel uncomfortable with or are far off-topic.
Pace questions appropriately so that clients have time to digest what you’re asking.	Bombard clients with multiple questions in rapid succession, without giving them sufficient time to answer.
Take accurate notes to ensure that you’re capturing the most important answers your client shares.	Use an AI note-taking tool to record the conversation without your client’s consent.

Find & Close Ideal Clients

Get regular introductions to retirees, pre-retirees, and high network prospects to grow your business.

Why Advisors Need to Ask Clients Questions

A new client may essentially be a blank slate for you. They might provide you with copies of their financial statements or some cursory information about their investments, but if you’re not asking questions, you only have a part of the picture. And it’s not important to simply ask questions; you have to ask the right questions to grab their attention.

That’s an idea executive speaking coach Alan Parisse puts forth in his book, “Questions Great Financial Advisors Ask..and Investors Need to Know,” co-authored with David Richman. The book examines some of the most impactful questions successful advisors ask to facilitate meaningful conversations with prospective and existing clients.

With the right questions, advisors can better position themselves to understand not only their client’s risk tolerance and goals but their emotional connections with money. When you can help a client separate how they feel about money from what they do with it, it may become easier to guide them toward their financial goals.

Frequently Asked Questions (FAQs)

How Do Advisors Prepare for Client Meetings?

If you’re planning a discovery meeting with a prospective client for the first time, it’s helpful to do as much research as you can beforehand. For example, you might ask the prospect to fill out a short questionnaire that covers some basic questions about their expenses, income, assets, debts and risk tolerance. That can provide you with a starting point for deciding which questions to ask once your meeting begins.

Are There Any Questions Advisors Shouldn’t Ask Their Clients?

While asking thoughtful questions is essential to understanding a client’s goals and circumstances, there are boundaries financial advisors should respect. Questions that feel intrusive, judgmental or irrelevant can damage trust, especially early in the relationship. Clients should never feel interrogated or pressured to disclose information that doesn’t clearly connect to their financial planning needs.

What Questions Should Financial Advisors Be Prepared to Answer?

When a new client comes to you, they may be armed with questions of their own. Some of the most common questions clients ask advisors can include:

How Do You Prepare Questions Tailored to an Individual Client?

Preparing tailored questions starts with understanding what you already know about the client. Reviewing intake forms, prior meeting notes and any recent life updates helps advisors avoid asking redundant questions and signals attentiveness. This preparation allows conversations to feel personalized rather than scripted.

Bottom Line

Financial advisors reviewing a list of questions for clients.

Asking the right questions is central to effective financial advice, but knowing which questions to avoid is just as important. Advisors who are thoughtful about tone, timing and relevance can gather essential information without compromising trust or comfort. When questions are respectful, purposeful and client-centered, they support stronger relationships and better long-term outcomes.

Tips for Growing Your Advisory Business

Marketing your financial advisory business can be life-consuming work, but automating your efforts can help you work more efficiently so you can save time and energy to devote to other areas of your business. SmartAsset AMP (Advisor Marketing Platform) is a holistic marketing service financial advisors can use for client lead generation and automated marketing. Sign up for a free demo to explore how SmartAsset AMP can help you expand your practice’s marketing operation. Get started today.
Reading books for financial advisors is an excellent way to expand your knowledge and pick up tips on how to strategically grow your business. In addition to books, you might also consider checking out some of the top advisor blogs and podcasts or following financial influencers online to stay up to date on the latest industry trends.

Article Sources

All articles are reviewed and updated by SmartAsset’s fact-checkers for accuracy. Visit our Editorial Policy for more details on our overall journalistic standards.

Thorp, Brian. How Americans Will Choose Financial Advisors in 2026 and Beyond (Trends & Data). Wealthtender, Aug. 2025, https://wealthtender.com/insights/how-americans-find-and-hire-financial-advisors/.