The key to any relationship between an investor and a financial advisor is communication. When a professional partnership is going well, communication is frequent, clear and multi-directional (the advisor should both talk and listen).

But it doesn’t always go that way. With that in mind, here are five warning signs to watch for that will tell you whether you should start thinking about looking for a new financial advisor:

  1. When you do not understand what the advisor has communicated to you.
  2. When your advisor has not asked you if you understand what has been communicated to you.
  3. When your advisor has not communicated to you whether he or she is a fiduciary advisor, meaning someone who manages your money responsibly for your profit, not his or hers.
  4. When your advisor does not communicate what “fiduciary” means in the context of your advisory relationship.
  5. When your advisor is not communicating with you, period.