Elon Musk once said something that applies far beyond technology and into every part of our lives.
“Do not tell me what you like. Tell me what you do not like.”
Most people avoid negative feedback because it is uncomfortable. We prefer reassurance over honesty. We want to be told everything is fine, even when we are not entirely sure that it is.
The problem is simple. When you avoid discomfort, you also avoid clarity. You learn nothing from the things that go well. You learn from the things that feel awkward.
And nowhere is this more obvious than in personal finance.
Most investors are polite. They trust. They nod along. They do not want to offend their adviser or sound difficult. They fear asking a question that might seem challenging or expose what they feel they should already know.
So they stay quiet.
And they leave important questions unasked.
Questions about fees.
Questions about conflicts of interest.
Questions about the evidence behind an investment approach.
Questions about what happens if the adviser leaves the firm.
Questions about who oversees the advice.
These questions matter more than people realise. They determine whether you are receiving advice that is genuinely in your best interest or something shaped by incentives that were never explained to you.
Yet these are exactly the questions most people avoid.
This silence is costly.
Not financially at first, but in understanding, confidence, and long term outcomes.
Elon Musk argues that positive feedback should roll off you like water off a duck’s back. It feels good, but it rarely gives you anything useful. Negative feedback, on the other hand, is where the insight lives.
This is true in investing too.
When everything is rising, every adviser looks clever. Every portfolio looks sensible. Every statement feels reassuring. You get a sense of comfort that nothing in your financial life needs attention.
But comfort is often the enemy of clarity.
The right question asked at the right moment can prevent years of drift, confusion, or being tied into something that never suited you in the first place.
The purpose of the 10 questions is not to catch advisers out. It is not to create friction. It is to help you get comfortable with the discomfort that protects you.
These questions give you permission to lean into the awkwardness. They give you structure. They help you begin the conversation you probably should have had years ago.
They reveal:
Whether your adviser is restricted
What they are incentivised to recommend
Whether their investment approach matches the evidence
How your money is overseen and safeguarded
Whether you can trust the stability of the advice over time
How their fees work in practice, not just in theory
These are not small details. They are the foundations of financial wellness.
And the truth is, advisers who are confident in their process and proud of their independence do not mind these questions. They welcome them. Transparency is not a threat when you have nothing to hide.
You cannot control markets.
You cannot predict the future.
But you can control your understanding.
And understanding begins with curiosity. Especially the uncomfortable kind.
So take Elon Musk’s advice. Give less weight to the positive feedback. Overweight the negative. Listen for the gaps. Look for the things that do not feel quite right. Question the assumptions that have never been explained.
If you want a stronger financial foundation, start with the questions most people avoid.
Start with the ones that reveal the truth.
That is what the 10 Questions are designed to do.
Nic Round is a Chartered Financial Planner and Chartered Wealth Manager, authorised and regulated by the Financial Conduct Authority.