How To Choose A Financial Planner

Many people want to invest their money wisely in order to prepare for a secure future. However, the best way to do this is not always clear, especially for those who are not in a financially based field. Some people opt for a financial planner to help with their money and investment decisions. But choosing the right financial planner can sometimes seem to be a challenge in itself. To help in making that choice, ask yourself the following questions. Why Do You Need a Financial Planner? What is your goal in pursuing a financial planner? Are you looking to finance your retirement? Are you considering a business or second career somewhere down the line and interested in building money to put towards this endeavor? Are you trying to put a financial picture to provide for your children's college education or their future well being? Are you trying to improve your credit score? While many financial planners will be able to help you with all of these, knowing what you are looking for going in will make it easier to narrow down who the best candidates are. What Kind of Financial Planners Are There? There are different types of individuals who can call themselves a financial planner. A CPA, or Certified Public Accountant, has passed the CPA exam and met specific state requirements and is qualified to provide a variety of services, including estate planning, venture capital development, financial analysis and planning and tax preparation. A Certified Financial Planner is certified by the Certified Financial Planner Board of Standards and is trained in a variety of types of financial planning including insurance planning, investment planning, retirement planning and estate planning. A Personal Financial Specialist is a CPA who specializes in personal financial planning. Where Can I Find the Right Financial Planner? Word of mouth is one of the best resources for finding the right financial planner. Friends or relatives who have been successful with things like credit repair may be able to direct you to a number of possibilities. It's also possible to find financial planners in financial magazines or on the Internet. Meet with financial planners who provide free initial consultations and discuss your specific needs which you can determine beforehand with a free credit report. Talk to a few before settling on one. Try to find one whose financial strategy fits in with your own, as some financial planners will be more aggressive with respect to risk than others. Once you've narrowed it down, check the credentials of the remaining candidates. Be sure they are licensed by the proper credentialing agencies. If you know of others who have used these particular planners, get feedback on how happy they are with their service. Be sure you understand the fees involved and how they are assessed before signing on. Financial directory