How to Prepare for Your Check-In with Your Financial Advisor

Why Preparation Matters

Think of your advisor as a financial GPS — they can guide you, but only if they know where you’re starting from. When you come prepared with a clear picture of your income, debts, investments, and financial priorities, your advisor can offer insights that are specific to your situation.

What to Bring to Your Meeting

Bringing the right documents helps your advisor provide a comprehensive view of your financial situation, identify areas for improvement, and develop a personalized plan tailored to your needs.

Key Documents to Consider

• Income statements: Bring your most recent pay stubs, W-2 forms, or any other documentation that shows your income from various sources. This information helps your advisor understand your cash flow and identify potential areas for tax optimization.
• Investment accounts: Gather statements for all your investment accounts, including brokerage accounts, retirement accounts (such as 401(k) or IRA), and any other investment vehicles. This will give your advisor a clear picture of your investment portfolio and help them assess your risk tolerance.
• Debt obligations: Collect documentation related to your debts, such as mortgage statements, credit card statements, and loan documents. This information is crucial for understanding your financial obligations and developing strategies to manage your debt effectively.
• Insurance policies: Bring copies of your insurance policies, including life insurance, health insurance, disability insurance, and any other relevant policies. This will help your advisor assess your risk management strategies and identify potential gaps in coverage.
• Estate planning documents: If you have existing estate planning documents, such as a will, trust, or power of attorney, bring copies to your meeting. This will enable your advisor to understand your estate planning goals and address that your financial plan is aligned with your wishes.
• List of recent or upcoming life events: Prepare a list of any significant life events that have occurred recently or are on the horizon, such as a job change, marriage, divorce, or retirement. This information will help your advisor understand your changing financial needs and develop strategies to support you through these transitions.
• Summary of your current investment philosophy or preferences: Take some time to reflect on your investment goals, risk tolerance, and any specific preferences you may have (such as socially responsible investing). Sharing this information with your advisor will help them develop an investment strategy that aligns with your values and objectives.
• Risk tolerance assessment: Consider completing a risk tolerance quiz or discussing your risk tolerance with your advisor. This will help them understand your comfort level with market volatility and develop an investment strategy that suits your needs.

By bringing these documents to your meeting, you'll be well-prepared to have a productive discussion with your advisor and take the first step toward achieving your financial goals.

If It’s Your First Meeting

It’s totally normal to feel a little nervous. Just remember: This isn’t a test. Your advisor is here to help, not judge. You don’t need to have everything figured out — they’ll walk you through it step by step.

Expect a conversation about your financial goals, current situation, and how your advisor can help you move forward. It’s also a great time to ask about their approach, fees, and how they work with clients like you.

Routine or Year-End Check-Ins

For ongoing meetings, it’s helpful to review your current plan and think about updates. You might discuss:

• Investment performance
• Tax strategies
• Insurance coverage
• Any changes in your financial goals

Smart Questions to Ask

Bringing questions shows you’re engaged — and helps you get the clarity you need. Consider asking:

• What’s included in your fee?
• Are you a fiduciary?
• How do you get paid, and does that impact your advice?

Staying in Touch with Your Advisor

Your advisor isn’t just there for scheduled meetings. If something big happens — like a career change, inheritance, or divorce — reach out. They can help you adjust your plan to stay on track.

Helpful Resources

Not currently working with an advisor, but would like to start? Tools like LPL’s Find an Advisor connect you with someone who fits your needs.

Meeting Checklists

First Meeting

• Financial goals overview
• Bank and retirement account statements
• Tax return
• Pay stubs or income summary
• Monthly budget snapshot
• Insurance policies
• Estate planning documents (if applicable)

Routine Check-In

• Updates to income or investments
• Progress toward goals
• Changes in risk tolerance
• Review of investment strategy

Year-End Review

• Year-end account statements
• Tax planning opportunities
• Portfolio rebalancing
• Updates to goals or estate plans

Final Thoughts

A little preparation makes a big difference. By gathering your documents and thinking through your questions, you’ll walk into your meeting feeling confident and ready to make progress toward your financial goals.