How to Choose a Financial Advisor in Arizona: 7 Questions Every Retiree Should Ask
A plain-English guide to vetting financial advisors in Scottsdale, Phoenix, and across Arizona — the credentials, fee structures, and disclosures that actually matter before you sign.
Choosing a financial advisor in Arizona is not just about performance charts. It is about who is legally required to put your interests first, how they get paid, and whether their planning process is built for retirement income — not just accumulation. The right seven questions can reveal more in 30 minutes than a stack of marketing brochures.
1. Are you a fiduciary 100% of the time, in writing?
Registered Investment Advisers (RIAs) and Investment Adviser Representatives (IARs) are held to a fiduciary standard under the Investment Advisers Act of 1940. Broker-dealers and many insurance-licensed agents are held to a lower 'best interest' standard under Regulation Best Interest (Reg BI). Ask for the answer in writing — a fiduciary firm will not hesitate.
2. How exactly do you get paid?
There are three common models in Arizona: fee-only (a percentage of assets, flat fee, or hourly), commission-based (paid by product providers), and fee-based (a hybrid). None of these is automatically better or worse, but you deserve a clear answer, in dollars, for what you will pay in year one, year five, and year ten.
3. What does your written planning process look like?
A good Arizona advisor should be able to show you a repeatable process — usually covering income, taxes, investments, healthcare, and legacy — not just a portfolio pitch. If the first meeting jumps straight to product recommendations, that is a signal worth pausing on.
4. Can I see your Form ADV and Form CRS?
Every registered advisor files these disclosure documents with the SEC or the Arizona Corporation Commission Securities Division. They disclose services, fees, conflicts of interest, and disciplinary history. You can also verify any advisor at brokercheck.finra.org or adviserinfo.sec.gov before your first meeting.
5. Who actually holds my money?
Legitimate advisors do not take custody of your assets. Your accounts should be held at an independent third-party custodian (for example, Charles Schwab, Fidelity, or Pershing), and you should receive statements directly from that custodian — not just from the advisor.
6. What is your experience with retirement income planning?
Growing a portfolio and drawing it down are two very different disciplines. Ask specifically about Social Security timing, Roth conversions, Required Minimum Distributions (RMDs), Medicare and IRMAA, and how they coordinate with your CPA and estate attorney. Arizona-specific issues — the state's flat 2.5% income tax, snowbird residency, and community property rules — should come up naturally.
7. How will we measure whether the plan is working?
'Beating the market' is not a retirement goal. Ask how success will be measured — probability of not running out of money, guaranteed income coverage, after-tax lifestyle, or all of the above. If the answer is only a benchmark return, the plan is incomplete.
A short note on our approach
At Solutions First Financial Group, we serve as fiduciaries on our advisory business, our client accounts are held at independent third-party custodians, and every plan begins with a written income and tax roadmap. We also may earn a commission when recommending insurance and annuity products to our clients. If you'd like a second opinion, we offer a no-cost 45-minute strategy session in our Scottsdale office or by video.
Frequently asked
Questions Scottsdale retirees ask us
- How do I verify a financial advisor in Arizona?
- Use FINRA BrokerCheck (brokercheck.finra.org) for broker-dealer registrations and the SEC's Investment Adviser Public Disclosure site (adviserinfo.sec.gov) for RIA and IAR registrations. The Arizona Corporation Commission Securities Division also maintains state-level records for advisors registered in Arizona.
- What is the difference between a fiduciary and a suitability standard?
- A fiduciary is legally required to place your interests above their own at all times. Under the SEC's Regulation Best Interest, broker-dealers must act in your best interest at the time of a recommendation, but the ongoing duty and conflict-of-interest disclosures are different. Fiduciary status should be confirmed in writing.
- How much does a financial advisor cost in Arizona?
- Fee-only advisors typically charge between 0.5% and 1.25% of assets under management annually, flat annual planning fees of $2,500 to $10,000+, or hourly rates of $200 to $500. Commission-based compensation is embedded in insurance or investment products and should always be disclosed in dollar terms before you commit.