What to Bring and 6 Questions to Ask to Prepare For Your First Meeting With a Financial Advisor

So, you've scheduled a meeting with an advisor ... now what? You may think you need to have your finances in order and a long checklist of items ready, but the reality is far simpler.

Think of your first conversation as a starting point in a longer journey during which you can ask questions, talk through your goals, and begin building a plan that fits your life.

This guide walks you through what to expect when you meet with a financial advisor for the first time, what to bring, and questions to ask that can help you get the most out of your first meeting.

What will happen when you meet with a financial advisor?

The first meeting with your financial advisor is less about making decisions on the spot and more about getting to know each other. A good advisor will want to understand you and what you’re trying to achieve before recommending anything.

Our advisors ask better questions to develop better solutions. This may include: Are there any family members who count on you financially? What does your ideal retirement look like? What are you hoping to fund for your kids? They’ll also cover what matters to you right now, which might include things like:

• Short-term priorities (paying down debt, building savings),
• Longer-term goals (buying a home, starting a family, retiring comfortably), and
• Any financial concerns that are on your mind.

From there, your advisor will ask questions to better understand your financial situation. This can include your income, expenses, savings, and any existing accounts or insurance coverage.

The goal isn’t to “grade” where you are—it’s to get a clear, complete picture so they can help you connect the dots between where you are now and where you want to go. Based on these answers, your advisor will identify which phase of planning you’re in and your goals. Don’t worry. You won’t be asked to make big decisions in this first meeting. Instead, your advisor may take what they’ve learned and use it to build a more personalized set of recommendations for your next conversation.

That gives you time to reflect, ask follow-up questions, and decide what feels right for you.

Your plan will include strategies—like life insurance, disability insurance, and long-term care insurance—to protect what you’re building alongside strategies to help grow your money, through investments, annuities, and other services. A strong plan balances both. Plus, research shows that combining permanent life insurance and annuities with investments can produce better retirement income than investments alone.¹

Don’t feel like you need to overly prepare for your first meeting. Your advisor will lead the conversation, but having your financial information at the ready can make it much more productive.

What to bring when you meet with an advisor

First, come with someone important who will be involved in the financial planning process, which could be a partner, child, or parent. As far as actual paperwork (or digital files) to bring, here are a few things that would be helpful:

• A budget, if you have one (or credit or debit card statements to show trends in spending)
• Pay stubs
• Statements/details about any investments and savings
• Any insurance policies you have
• An employer benefits statement, including disability and life insurance coverage
• Tax returns for the past two or three years
• Statements/details on any debt you owe (mortgages, credit cards, student loans, business loans, personal loans, etc.)
• Information on any trust funds you may be a beneficiary to
• Any estate plans or other significant financial documents, such as prenups or postnups
• Any prior financial plans

Don’t worry if you don’t have everything—your advisor can help you fill in the gaps. And though it can feel uncomfortable to share personal information like this with someone you just met, remember that your advisor is there to guide and reassure you and follows policies around privacy and confidentiality. Their role is to help you maximize your money now and prepare for the future.

Questions to ask a financial advisor

If you’ve reached out to work with a financial advisor, then you’ve already made a big step toward making progress on your money goals.

But you want to make sure the advisor is a good fit, so it’s a good idea to get a sense of how they work and what they offer. Here are a few questions to ask.

1. What is your approach to planning?

If you want someone who can see your whole financial picture, then you’ll want that reflected in the answer. You may want an advisor who can help you save for your kid’s college and your next home, all while helping you figure out how to pay down your debt and build a retirement nest egg. But you may not get that if, for example, the conversation focuses solely on investment options for your portfolio. So, it’s important to figure out if they can help create a personalized plan for you that includes all the goals you’re trying to achieve versus advising on just one part of a plan.

Our advisors typically take a phased approach to planning to identify where you are and help you take the next step—be it establishing a foundation, being more strategic, optimizing for retirement, or transferring wealth to your loved ones.

2. What certifications do you have?

Many financial advisors get industry credentials that indicate they’re trained specialists in certain areas. Earning these credentials can require anything from a number of logged hours of practical experience or taking exams to completing coursework. There are hundreds of financial designations available, but the most common you may want to look for are these:

• Certified Financial Planner™ (CFP®): A CFP could be a good designation to look for if you’re looking for general financial advice. This certification recognizes an advisor as someone who has an in-depth knowledge of personal financial planning topics, including tax planning, employee benefits, retirement planning, estate planning, investment management, and insurance and risk management.
• Chartered Financial Consultant® (ChFC®): A ChFC is like a CFP but covers more advanced planning topics that can include special circumstances, such as planning for business owners, single-parent and blended families, LGBTQIA+ families, and special-needs situations.
• Chartered Financial Analysts® (CFA®): If you’re looking for a financial advisor who can manage your investments, you may look for a CFA. A person with a CFA can provide advanced investment analysis and portfolio management.
• Retirement Income Certified Professional® (RICP®): This is another good option if you’re looking toward retirement. An RICP is focused specifically on effective retirement income planning.
• Chartered Life Underwriter® (CLU®): A CLU certifies that the advisor understands personal risk management and life insurance planning strategies for individuals, business owners, and professional clients.

You also may want to ask your advisor if they are a fiduciary. Advisors who hold a fiduciary designation are bound to a set of ethical standards requiring them to act in your best interest.

3. Which financial services do you offer?

Make a list of things you’re looking for help with. Are you looking for a financial plan that you’ll carry out on your own? Or are you also looking for someone to manage your investments? Then when you meet with the advisor, ask them if these are things they can do for you. Different advising firms offer different services—so you’ll want to make sure you’ve got a match.

You’ll also want to understand the offerings of the firm as a whole. For example, if the firm does handle investments, check into any limitations on financial products you’ll have access to. Some firms also have a minimum income or investment level you’ll need to reach to work with them. At Northwestern Mutual, we have advisors who work with people at all different stages of life and income levels.

4. What will it look like if we work together?

You’ll want to understand how you’ll work together, including how often you’ll meet. There’s no set standard, but you’ll want to make sure you meet often enough to stay on track with your goals or be able to adjust when your life changes.

You may feel you need more frequent input from your financial advisor, such as once a quarter. Or if not much changes about your finances from month to month, then just a mid-year and end-of-year check-in could work. Even if you don’t meet face-to-face multiple times a year, you should feel comfortable calling or emailing your advisor for advice if something comes up.

It’s also important to understand who your point of contact will be and other resources you may have access to. Your potential advisor may have their own staff, a company, as well as a network of other professionals they can tap when needed. That can make a big difference if you know your financial needs will evolve over time or if you think you’ll need access to other specialized services, such as tax preparation, property and casualty insurance, or estate planning.

5. How will you get paid?

Transparency about pay is key if your financial advisor wants to earn your trust. Three of the most common ways financial advisors can get paid include charging you a fee, charging a percentage of the assets they help manage for you, or getting commission from any products or services you buy. Some advisors may even do a mix of each.

6. What's your investment philosophy?

If you decide to work with a professional who’s qualified to give investing advice, make sure you understand their investment approach. You won’t want to be pushed into riskier investments if you are really risk averse, for instance. Or you may be willing to take on risk if it makes sense for the goals you have, such as funding a retirement that’s decades away. Make sure that your financial advisor’s approach balances your goals, your timeline for getting there, and your appetite for risk.

What happens after your first meeting?

Your advisor will take the information from your meeting and use our proprietary software to help build a plan that caters to your unique situation and addresses any obstacles to reaching your goals.

But you’re in the driver’s seat! Be sure you understand the different levels of support available and communicate your needs clearly. Your relationship with your financial advisor will ideally span many phases of your life, and you’ll work with this person through some major milestones. So, it’s important that you feel comfortable with whoever you choose to work with.

After talking with a potential advisor, if you feel good about moving forward, ask them what the next steps are. But if you have concerns that this person may not be the right fit for you—that's okay, too. Learn from this meeting and find another advisor who more closely aligns with your needs. The most important part is just getting started.

Frequently Asked Questions

What are three questions you should ask your financial advisor?

Start with three questions that clarify how the relationship works. How do you get paid (fee-only, commission, or both)? What services are included? How will you build a plan tailored to me? These help you understand what services they provide and whether their approach fits your needs.

You can also use these questions to gauge fit. Pay attention to how clearly they explain things and whether they connect recommendations back to your goals. A strong advisor should welcome these questions and answer them in a way that builds trust.

How do I prepare for a meeting with a financial advisor?

Outline your priorities, including what prompted the meeting and what you want to get out of it. That might be retirement planning, protecting your family, managing debt, or simply creating a more organized financial strategy. Having two to three clear goals makes the conversation more focused and productive.

It’s also helpful to gather a rough snapshot of your finances—income, assets, debts, and any existing coverage or investments. You don’t need all the details, but you should be ready to talk through the basics. The more context you can provide, the more relevant the advice will be.

How long does a first meeting with a financial advisor usually take?

Most first meetings with a financial advisor last about 30 to 90 minutes. That gives you enough time to talk through your goals, review your financial picture at a high level, and ask questions without feeling rushed. If your situation is more complex, or you have a lot you want to cover, it may take longer. Some topics could also continue in a follow-up conversation.

What matters most isn’t the exact timing. It’s that you leave with a clearer understanding of where you are and what your next step could be.

Not all Northwestern Mutual representatives are advisors. Only those representatives with "Advisor" in their title or who otherwise disclose their status as an advisor of NMWMC are credentialed as NMWMC representatives to provide investment advisory services.

Financial advisors and representatives do not render tax advice. Consult with a tax professional for tax advice that is specific to your situation.

Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP^®, CERTIFIED FINANCIAL PLANNER^®, and CFP^® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.