Questions
You may be considering help from a
financial planner for a number of reasons,
whether it's deciding to buy a new home,
planning for retirement or your children's
education, or simply not having the time or
expertise to get your finances in order.
Whatever your needs, working with a
financial planner can be helpfull
step in securing your financial future.
The questions in this brochure will help you interview
and evaluate several financial planners to find the
one that's right for you. You will want to select a
competent, qualified professional with whom you
feel comfortable, one whose business style suits your
financial planning needs. An interview checklist
has been included for your convenience.
WHAT EXPERIENCE DO YOU HAVE?
Find out how long the planner has been in
practice and the number and types of companies
with which she has been associated. Ask
the planner to briefly describe her work experience
and how it relates to her current practice.
Choose a financial planner who has experience
counseling individuals on their financial needs.
WHAT ARE YOUR QUALIFICATIONS?
The term "financial planner" is used by
many financial professionals. Ask the planner
what qualifies him to offer financial planning
advice and whether he is recognized as a
CERTIFIED FINANCIAL PLANNERTM professional or CFP
practitioner, a Certified Public Accountant/
Personal Financial Specialist (CPA/PFS), or a
Chartered Financial Consultant (ChFC).
Look for a planner who has proven experience in
financial planning topics such as insurance,
tax planning, investments, estate planning or
retirement planning. Determine what steps
the planner takes to stay current with changes
and developments in the financial planning
field. If the planner holds a financial planning
designation or certification, check on his background
with CFP Board or other relevant
professional organizations.
WHAT SERVICES DO YOU OFFER?
The services a financial planner offers
depend on a number of factors including
credentials, licenses and areas of expertise.
Generally, financial planners cannot sell
insurance or securities products such as
mutual funds or stocks without the proper
licenses, or give investment advice unless
registered with state or Federal authorities.
Some planners offer financial planning
advice on a range of topics but do not sell
financial products. Others may provide
advice only in specific areas such as estate
planning or on tax matters.
WHAT IS YOUR APPROACH TO FINANCIAL PLANNING?
Ask the financial planner about the type of
clients and financial situations she typically
likes to work with. Some planners prefer to
develop one plan by bringing together all
of your financial goals. Others provide advice
on specific areas, as needed. Make sure the
planner's viewpoint on investing is not too
cautious or overly aggressive for you. Some
planners require you to have a certain net
worth before offering services. Find out if the
planner will carry out the financial recommendations
developed for you or refer you to
others who will do so.