Objective Advice on What to Look for in a Financial Planner. Do you Need One?
If you are considering hiring a financial planner, here are some important tips that will
help you choose a qualified professional. Do not be suckered by someone whom only has their interests in mind.
1. Be wary of the sales mentality. Top planners are interested in helping you accomplish your goals,
not in selling a product.
2. Let them work with you for at least 4 to 6 months before starting to make an investment.
3. Look for the CFP designation (Certified Financial Planner). These highly respected planners
are the cream of the crop.
4. Search for a good listener and a good teacher.
5. Ask the planner if they consider themselves fiduciaries. This is a simple way of putting their
clients interest first. The best planners embrace it.
6. Find out about conflicts of interest that the planner may have. Many planners are paid based
on the assets they manage for you. If a planner suggests that you use some investment assets to pay off credit
card debt, their fee will be lower, but they are doing the right think in looking out for your interests.
7. Look for planners who specialize in either your career path or lifestyle. If your top goal
is a retirement planner, look for a planner who says that`s one of his or her areas of expertise.
8. Take a careful look at your own expectations. The top planners are interested in clients who
are open and enthusiastic with realistic goals. Not greedy ones.