11 Key Qualities to Look for In a Financial Planner
- Author Kenny Doucette
- Published July 29, 2009
- Word count 666
Finding a reliable, professional financial planner can take some time and a little headache when you're curious of how to find someone to manage your confidential information. In most cases, you have to dig deep into the system to learn about the best of the best that are affordable while understanding your financial goals. For most people interested in financial planning, they have to look in the mirror and ask the tough question - Am I ready to do this? Are you? If so, here are 11 key qualities to look for in a financial planner to build your wealth.
Set Financial Goals - enter the market with an idea of what you want to accomplish. Most investors are unaware of their opportunities because they do not complete prior research. Review your financial situation then search for a financial planner to help you achieve your goals.
Seek Referrals - personal referrals tend to produce high-quality results in finding a financial planner. Many investors work with close planners that are known by family members, friends, or colleagues at their company. If you feel more comfortable working with a close connect, maybe your search for a professional can stop by a phone call to a good friend.
Check Credentials - Is the financial planner qualified to assist in managing your wealth? If you want to work with someone, they should have a stellar background in producing results for their clients. Ask for certifications, degrees, and referrals from their current client base. A professional financial planner will be more than happy to supply the information you request.
Mandatory Affiliations with FPA or AFA - affiliation with these top associations means the financial planner has passed the stringent membership criteria. If your planner has affiliate ties, you may have a good one available to help in managing your finances effectively.
Verify Certifications - you can verify certifications of a financial planner by visiting the FPA or AFA websites. Each website offers a search feature for you to verify the information provided by your potential financial planner.
Interview 2 to 4 planners - you may ‘think’ you found the perfect planner, but as in any business proposition - interview your candidates. Some may have shaky backgrounds that need to be analyzed or clients that are not pleased. Dig to see what makes one of them the best match for your needs before committing to a service offer.
Communications - how will you maintain contact with your financial planner? Discuss the update process in which you learn about your investments. Do you plan to receive faxes, phone calls, emails, or other correspondences to keep you in the loop? If your planner does not know, then you will never know what’s going on.
Work with a Reputable Firm - Reputations speak volumes in the financial industry. Consider a firm with a long history of success instead of a new firm that entered the market one year ago. In most cases, you are trying to save money but you should not hinder your opportunities just by cost of management.
Planner Philosophy - What does your planner believe in? Some planners offer aggressive approaches to the market that can harm your investments. Consider finding one that matches your tolerance level to get the best results.
Compare Planner Fees - How much are the management fees? Do you have to provide an annual fee, quarter percentage, or anything else? Find out what the fees are from the beginning. Upfront information can show a company’s reliability if they do not hide information. Find one that you can trust before allowing them to assess your money.
Can you trust this planner? - This is a reality check. Do not work with anyone you cannot trust.
These qualities are basic understandings of dealing with financial planners. In most cases, you have to get ready to do dirty work in analyzing services. It’s going to be a hard task, but you need to know where you’re putting your money.
Scheirer Wealth Management is the leading Orlando Financial Planning and private wealth management company. They have the reputation as Orlando's favorite retirement planning agency.
Article source: https://articlebiz.comRate article
Article comments
There are no posted comments.
Related articles
- 3 Great Passive Income Ideas for New Moms and Dads in 2024
- Avrex IO Redefines Real Estate Investment with Innovative Tokenized Ownership Approach
- Panama City's Real Estate Market: Top Neighborhoods for Investment
- Investing in a Condo or Villa in Pattaya, Thailand
- Tabania Group Rings in the New Year with a Powerhouse of Financial Services, Unveiling a Comprehensive Suite for the Digital Age
- To What Extent Has Economic Growth Improved Quality of Life?
- How to Manifest Wealth in Your Life
- Unlocking the Potential: Making Money Online with Your Phone”
- Blue economy of the world
- This Financial “FORMula” Will Help You Plan Around What Matters Most
- Losing a Parent: A Checklist and Timeline of the Financial Aspects to Address
- How to Avoid Lifestyle Creep: Try this 50/50 Rule for Saving & Spending
- (Money) Date Night: Why You Need One and 5 Topics to Discuss
- Private Placement Life Insurance (PPLI) in Offshore Trust More Useful Than Ever
- Indexed Insurance Policies Hedge against Inflation
- Should You Invest Abroad? A Complete Guide to Buying Investment Properties in Thailand
- What Are Your Retirement Planning Options?
- Daily Income Opportunity With U-Farm
- Building a Comfortable Retirement: Tips and Strategies for Investing in Your Future.
- Revocable Living Dynasty Trust (RLDT)
- Key Retirement & Estate Planning Tools
- Captive Insurance -- Details
- INDEXED UNIVERSAL LIFE INSURANCE (IUL) ADAPTS TO INFLATION AND HIGH INTEREST RATES
- GRANTOR ACCESS TO IRREVOCABLE TRUSTS -- EASE THE STRESS OF COMPLETED GIFTS
- CASH BALANCE PLUS PLAN
- Tax-Free Income Making More Sense in Global Financial Crisis
- Dynasty Trusts Guard Personal Autonomy in Hierarchic Society
- Captive Insurance Company, CIC -- Reduce Taxes and Build Wealth
- What is an RESP?
- Private Placement Life Insurance, PPLI