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Three Questions Worth Settling Before Hiring an Advisor for a Large Portfolio

1. Does a bigger portfolio call for a different kind of advisor?

Not automatically, although the work changes shape. Once assets sit across entities, trusts, and more than one jurisdiction, coordination between professionals starts to matter as much as fund selection. A high net worth financial advisor is generally expected to work alongside accountants and attorneys rather than in isolation, so asking how that coordination happens is reasonable early on.

2. Is fee-only the same thing as fiduciary?

No, and the two are often conflated. Fee-only describes how a firm is paid, meaning by its clients rather than through commissions on products. Fiduciary describes the standard of care owed to those clients. An adviser who also earns commissions may owe a fiduciary duty on some accounts and not others, so both are worth confirming separately.

3. How do you check someone's background before signing anything?

Registered advisers file a Form ADV with regulators, and it is publicly searchable. Part 2 covers services, fee schedules, and disclosed conflicts. Anyone considering an ultra-high-net-worth financial advisor can also verify credentials with the organization or state board that issues each one.