Smart Ideas: Revisited

September 2, 2019


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How to Find a Good Financial Planner

Financial management is important if you are to shape out your present and your future. Some people see no problem with handling their finances on their own. Most people who have chosen to go this way have made some serious mistakes although some have managed to be successful at it. Just like everyone else, you want to sit back and relax knowing that your finances are secure and this is not the best way to do it. For this reason, you may have to hire a financial planner. More and more people are hiring financial planners to help with their personal finances as this trend keeps gaining ground.

Finding the best financial planner is important as you cannot trust anyone to come up with the best financial plans and solutions for your situation. However, you need to be ready to put in the time required if you are to get the best one. It is a worthy investment to dedicate your time to in the long-term. You will need a guide like this one to avoid any mistakes that may cost you your dream of finding a good financial planner. You should view here for more.

Research on the different types of financial planners. During your research, you will realize that some financial planners are good at offering financial planning services only while others are more qualified in offering investment planning services alone. You could also find one that will handle your retirement financial plans or a different want in case you want help in wealth accumulation. Financial planning mainly comprises of Money Cash & Value, investment advisory, and retirement income planning.

Look for reputation. Not all financial planners have the same reputation. In some cases, organizations will make it possible for salespeople to acquire credentials by paying a specified fee and appear to be an expert. Apart from college for professional training or personal financial specialist designations, a chartered financial analyst certificate also ranks among the most reputable credentials. Only proficient financial planners have such credentials as they are only awarded upon passing an exam. It is also a minimum requirement for the financial planners to act in line with an existing ethics policy and meet the continuing education requirements. Also find out whether they are members of any professional associations.

Their means of compensation is important. Different financial planners have different ways of getting paid. Financial planners that oy accept fee-only payments are the most reliable and unbiased. Also make sure you find out whether they get paid in terms of commission, hourly fees or based on the value of your assets. You should also know the difference between fee-only financial planners and non-fee only.