However, I realize why most have one, it takes WAY too much time to read up on finance and keep current.
With the downturn, I have talked to people who have financial advisors, and often the response I get for their plan confused me, and questioned the value add.
A blog posted questions for your financial avisor. I particularly liked these two questions:
4. Did your adviser change his strategy as economic and financial events changed? If he didn't, why not?
6. Ask your adviser whether he "eats is own cooking" -- that is, did he invest along with you in the same investments, and are both of your interests aligned?http://bigpicture.typepad.com/comments/2008/08/questions-for-y.html
While at it, read these 10 rules of investing and use them as discussion points to see how your advisor aligns with these rules. Click here.