It's hard to put your finger on the exact value of having a financial advisor. Morningstar recently attempted to quantify the benefit of hiring one, noting that investors who sought professional help gained an increase of 1.82% of retirement income per year. But with a wide array of business models, fee structures and certifications, it would be wrong to blindly apply that number to the entire financial services industry. If you're trying to determine whether or not your advisor is worth the cost, personal finance expert Lauren Lyons Cole proposes that you ask these three questions.

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