A financial planner works with clients to help them meet their financial goals.
It’s a financial planner’s job to give advice pertaining to personal finance, investing, and money in general. Unlike stockbrokers and other professionals, a financial planner does not receive any sort of commission for their advice. Instead, he pays a monthly fee, such as is earned by a lawyer or accountant.
Financial planning is not just about investing. If a person is looking to make a lot of money in a short amount of time, they are probably not looking for a financial planner. The goal of a financial planner is long-term, providing realistic advice for maintaining a family’s security well past retirement age. A financial planner can play a number of different roles depending on their licenses and certifications. For example, if a financial planner wants to sell stocks or insurance, he must go through all appropriate legal channels to do so.
A financial planner can play a number of different roles depending on their licenses and certifications.
There are those who would like to get the advice of a financial planner but are worried about relinquishing control of their finances to someone else. This couldn’t be further from the truth. The financial planner’s job is to guide, not take control. While it may be in a person’s best interest to follow the advice of a financial planner, he is under no obligation to do so. A good financial planner will work with other professional advisors in your life to become part of a team. If you regularly seek the advice of lawyers and accountants, your financial planner will also work with these professionals to keep your best interests in mind.
Financial planners can help people save money for their children’s education.
If you are interested in choosing a financial planner, it would be a good idea to first identify your long-term goals and priorities. Start your research by asking for recommendations from friends, co-workers, and family. When you have a list of potential financial planners, check their credentials. Look for an experienced and certified professional. You can check for black marks on a particular financial planner through the Certified Financial Planner Board of Standards, Inc. They are online and easy to find.
Financial advisors can help couples who are planning a family save money.
Don’t forget to ask your potential financial planner about background and experience. Find out more about schooling and past jobs. Don’t be afraid to ask for multiple references. When it comes to your financial future, you can’t be too cautious, and a reliable financial planner will be more than willing to provide you with this information.