HerMoney with Jean Chatzky
Episode Title: The Scripts You Need When Talking To A Financial Advisor
Date: October 24, 2025
Guest: Pam Krueger, Founder and CEO of Wealthramp

Episode Overview

This episode of HerMoney is designed to empower women to confidently navigate conversations with financial advisors. Host Jean Chatzky and her guest Pam Krueger use a role-play format to demonstrate, with scripts and real-world questions, how to approach, evaluate, and get the most out of a relationship with a financial advisor. The discussion covers everything from those first advisor meetings, reassessing an existing advisor, to interviewing multiple candidates, with a focus on ensuring that women get financial guidance tailored to their unique needs and goals.

Key Discussion Points & Insights

1. Approaching Your First Meeting With an Advisor

Timestamp: 06:05 – 14:41

• Shift the Power Dynamic:
  Pam emphasizes that as the client, you are interviewing the advisor, not the other way around.
• Key Script for the Client:
  • State your intent: “I’d love to walk away from today’s conversation knowing whether there’s a potential fit here. I’m hoping to cover three main things.” (Pam Krueger, 07:09)
• Important Questions to Ask:
  1. Who are your clients, and what situations do you typically help with?
     • Ensures your concerns mirror their expertise.
     • Example: “Can you describe the clients you’re already working with and what their situations are?” (Pam Krueger, 08:47)
  2. What do you specifically do for those clients? Provide examples.
     • Look for details, not generalities.
     • Memorable quote: “It’s really good when they can get specific and give you examples of clients and how they’re helping them with those challenges.” (Pam Krueger, 11:18)
  3. How do you get paid?
     • Directly ask about fee structure and models.
     • “Please describe how your clients that you just described are paying you. Tell me about your fees.” (Pam Krueger, 12:42)
• How to Identify a Bad Fit:
  • If the advisor responds with generalities and doesn’t directly address your concerns, that’s a red flag.

2. Reevaluating an Existing Advisor Relationship

Timestamp: 14:41 – 21:55

• Assessing Value:
  • “How are you, the advisor, measuring my success? I need you... to describe the value that you think you’re adding to my life.” (Pam Krueger, 15:18)
• DIY vs. Advisor:
  • Even for competent DIY investors, Pam suggests asking: “Where are the gaps in my plan? I’d like you to look over my plan with a set of fresh eyes.” (Pam Krueger, 17:14)
• On-going Value:
  • Memorable moment: “For me, the real value lies in the plan... the annual meeting where we look at the trajectory and… put all the pieces together.” (Jean Chatzky, 19:18)
  • Advisors should proactively adjust plans as your life changes—not just monitor investments but support life transitions.

3. Retirement Concerns and Decumulation

Timestamp: 21:55 – 28:24

• Key Client Questions:
  • “Have we really looked at longevity? Can you show me how you’ve stress tested for this kind of ‘what if’ scenario?” (Pam Krueger, 24:07)
  • Don’t settle for vague reassurances; demand specifics on:
    • Longevity planning
    • How income streams are constructed
    • Handling down markets and healthcare needs
  • The power script: “Show me. I really want you to just show me how this is going to work under different circumstances—down market, healthcare wildcards...” (Pam Krueger, 27:15)

4. Interviewing Multiple Advisors

Timestamp: 30:16 – 35:07

• Process Tips:
  • Talk to two to three advisors: “It kind of is more like dating than anything else.” (Pam Krueger, 30:51)
  • Ask the same questions for fair comparison, but ensure all advisors have the same minimum qualifications (vetted, fee-only, fiduciary).
• Discussing Philosophy:
  • “Instead of trying to bend you to their philosophy, it’s really important... that they’re not going to try to convince you. The whole point... is so you’re paying them to make sure your priorities are going to be met.” (Pam Krueger, 32:29)
• Assess alignment:
  • If an advisor “respectfully listens to your philosophy and you respectfully take in theirs,” that’s a green flag. No connection? “You just walk away.”

5. Advisor Fees: What Should You Pay?

Timestamp: 35:07 – 37:32

• A la carte/Hourly:
  • $200–$350/hour; more for complex work. Typical deep dives: $1,500 to $12,000, average around $3,000 for most.
• Ongoing Management:
  • For a $1 million portfolio, expect $7,500–$10,000/year (“just below 1%”). Fee should be justified by savings, improved returns, or valuable planning.

Notable Quotes & Memorable Moments

• On setting the meeting agenda:
  • “I am the center here, because I’m the person who’s going to be paying you to guide and advise.” (Pam Krueger, 07:09)
• On advisor value:
  • “The right advisor... is going to talk to you about the things that matter to you, because that’s why you hired the advisor.” (Pam Krueger, 15:12)
• On assessing fit:
  • “You’ll know because the conversation won’t be as specific as you need it to be once you’ve laid out what you’re looking to do.” (Pam Krueger, 13:23)
• On the ongoing benefit of advice:
  • “It’s all about changes that happen in my life... I know I’ve got somebody there who’s not just a friend... but someone actually guiding me and advising me.” (Pam Krueger, 20:15)

Timestamps for Key Segments

• Setting the Stage: Why Women Need Specific Advice: 02:19 – 05:54
• First Meeting Scripts & Strategy: 06:05 – 14:41
• Assessing Existing Advisor Value: 14:41 – 21:55
• Retirement/Decumulation Questions: 21:55 – 28:24
• Interviewing Multiple Advisors: 30:16 – 35:07
• Advisor Fee Structures & "What Should This Cost": 35:07 – 37:32

Episode Takeaways

• Prepare and Own the Conversation: Go in understanding that the advisor works for you. Set the agenda, state your goals, and ask direct questions about their expertise, fees, and philosophy.
• Insist on Specific Answers: Look for advisors who articulate how they work with situations like yours and provide tangible examples.
• Review Advisor Value Periodically: Don’t hesitate to reassess the relationship and value. The best advisors tie their value directly to your goals and offer more than just investment management.
• Find Philosophy & Communication Fit: Interview multiple, properly vetted advisors, compare responses, and seek those who both align with and broaden your perspective.
• Know Your Costs: Understand the range for hourly, project-based, and ongoing management fees—and connect these back to actual value received.

For more resources on choosing an advisor, visit hermoney.com/findanadvisor.