11.3.5 Working with your financial professional

Your relationship with your financial professional is not one-sided. After all, it's your money, and you're in charge.

You can expect a qualified financial professional to:

• learn about you and your financial situation (financial professionals must use a formal Know Your Client or "KYC" form in many cases)
• carry out your requests promptly
• behave ethically and honestly
• fully disclose all risks and conflicts of interest
• make personalized recommendations
• clearly disclose the method of compensation.

You should:

• have a clear understanding of your values, your goals and your wishes in life—both short- and long-term
• have clear but realistic expectations about what you want your financial professional to do
• inform your financial professional of any changes to your personal financial situation in a timely manner.

Take notes of your contacts with your financial professional or other advisors, whether in person or on the phone.