Time for a Financial Planner?

Are you looking to expand your investments, or for advice on how to allocate your money best?  Usually, savers turn to financial planners for this type of advice.  Someone who has their best interests in mind and steers them in a direction to long-term financial security.

Experts agree that a well-rounded portfolio is essential to reach your retirement goals and limit your risk.

If you are in the market to choose a financial planner, the Wall Street Journal offers these tips in a How-to Guide for choosing a financial planner: 

• Look for a financial adviser who is a certified financial planner (CFP).  These are licensed professionals that are required to take continuing education courses to stay on top of the industry.

• Consider fee structures.  If your needs are fairly simple and straightforward a pay-by-the-hour financial planner might be your best bet.  Plus, if you are only paying by the hour, you can get a feel for the planner and if you don’t like what you see your money won’t be tied up in a long-term commitment that might be complicated to exit.

• Check credentials.  Google them, run a background check and check discipline records.  You can check public disciplinary actions on the Certified Financial Planner Board of Standards website.  You should be able to trust the person that is managing your financial future. 

• Editors at the WSJ also suggest walking away from any planners who predict “market-beating performances.”  These financial planners might be willing to take more risk than you want.

If you would like more in-depth information on how to choose a trusted financial planner, visit the CFP Board’s Consumer Guide to Financial Self-Defense. 

You can also search for Certified Financial Planners in your area by clicking here.