Before hiring any financial planner, I hope you will ask these questions (and more!): Are you a fiduciaryA legal and ethical duty to act in the client's best interest at all times — not just recommend something that's merely “suitable.” Not every financial professional is held to this standard., and will you confirm it in writing? How are you compensated, including any commissions or referral fees? What's your CRDA unique ID number every registered financial advisor is assigned by regulators. Look it up on the SEC's IAPD database to see someone's registration history and any disciplinary actions or complaints on file. number, and have you had any disciplinary actions (checkable on the SEC's IAPDThe SEC's Investment Adviser Public Disclosure database, a free public tool for looking up any financial advisor's registration status, history, and disciplinary record by their CRD number. database)? What's your minimum requirement to work with a client? What's your fee structure, and where is it published? A planner worth hiring will gladly answer all of these, and more, without hesitation.
Many people don't ask questions before hiring a financial planner. This isn't because they don't have questions, but because they don't know what to ask and what the answers mean.
The questions highlighted below aren't 'gotcha' questions. A planner worth working with has answered them many times and will answer them without hesitation. I hope you will ask them before working with anyone, Koinos included.
Whose interests come first
"Are you a fiduciary? Will you confirm that in writing?"
Acting as a fiduciary is a specific legal duty to act in your best interest, not just recommend something "suitable." The two sound similar and aren't. A suitable recommendation only has to clear a low bar; a fiduciary one has to be the best available option for you. Ask for that duty in writing. A verbal yes doesn't carry the same weight since some professionals are fiduciaries only some of the time, depending on which product or account they're touching in that moment.
Koinos always operates as a fiduciary.
"How are you compensated? Do you earn commissions or referral fees from any source?"
This question verifies the answer to the first one. Someone can call themselves a fiduciary and still earn a commission for steering you toward a particular insurance policy or investment product, quietly pulling against the duty they just claimed. A clean answer lists every source of compensation, including commissions and referral fees. If you want to be confident recommendations are always in your best interest, avoid commission-based fees and services.
Koinos is a fee-onlyMathew is paid only by the fees clients pay him directly — never commissions for selling a product. That means there's no hidden incentive to steer you toward one investment or insurance policy over another. firm, which means we are only paid by you for the services you selected. Learn more on our Services Page.
Whether they are who they say they are
"Are you registered with the SEC or a state regulator? What is your CRD number?"
Every legitimate financial advisor has a CRD number, a unique ID from the regulator overseeing them. Whether that's the SEC or a state securities regulator depends on the size and type of the firm, not on where you happen to live, so don't expect the same answer from every advisor you talk to. What matters is that there's a number, and that it checks out.
Koinos Financial's CRD is: 342846. Mathew's CRD is: 8276370
Have you had any disciplinary actions or client complaints?
Take the CRD number and look it up yourself on the SEC's Investment Adviser Public Disclosure database (IAPD), which is free and public. It takes about five minutes and shows registration history, disciplinary actions, and client complaints, if any exist. This is easy due diligence. It's a public record check, the same instinct that makes someone read reviews before a purchase, just aimed at something that matters more.
We hope you will review both Koinos's IAPD page and Mathew's IAPD page.
Whether the relationship fits
"What is your minimum to work with a client?"
Some firms won't take you on as a client until you've saved a certain amount of money, often $250,000+ in investable assets (money in accounts). It's more common than you may think, and it's worth knowing upfront rather than discovering it three questions into a call you didn't need.
Koinos has no minimum requirements. If you have questions or are ready to receive assistance, we are here for you!
"What does a typical client engagement look like? What do I actually get?"
A specific answer says exactly what you get: a written plan, a set number of meetings, work you can point to afterward. A vague answer talks in generalities about "partnership" and "holistic guidance" without ever landing on what shows up in your inbox.
Koinos customizes every client engagement to your needs, and you can learn more about our process and services on these pages.
"Who will I be working with? Will I ever be handed off to someone else?"
At some firms, the person who onboards you is different than the person managing your plan six months later. Other firms allow you to build a deep relationship with one planner that gets to know you deeply, your story, and your dreams. Both of these are normal, but you should know which one you're getting into before you're in it.
At Koinos, you will be working with Mathew Eardley, Founder and Financial Planner.
What you're paying, and where it's written down
"What is your fee structure, and where is it published?"
Some firms charge a percentage of assets under management (money held by the firm). Others charge a planning fee. Others use a subscription/retainer model. Some charge by the hour. Some have commissions. And some receive referral fees. A strong answer points to a specific page or document, rather than a verbal ballpark that lacks clarity.
Koinos publishes all of their fees on the website. Any fee customized to specific client needs or complexity is documented in detail within the client agreement signed before any work begins.
The answer that matters most
While the technical questions above validate a firm, don't forget the personal side of the relationship. Those questions are hard to script, but they're just as important as the technical validation. Think about the type of communication cadence you prefer, the learning style you prefer, or the goals you have. Craft questions around those things to build a deep, trust-based relationship. After all, the best planning happens with clear, honest, and vulnerable communication.
None of these questions are complicated, and none should make someone hesitate about how they operate. If a planner gets vague, changes the subject, or asks why you're asking, that reaction is itself an answer, maybe the most useful one you'll get all conversation long.
These are fair questions to ask me too, and I hope you will. I look forward to speaking with you.
