Independent Financial Planners What To Look Out For

By Ryan Paulin

Independent financial planners simply represent their clients apart from a company or those who give independent investment advice. But like any other professional, a certain degree of standard, educational background, training and certification is required before one becomes qualified for the job.

What do independent financial planners do? They do a thorough study of their client’s financial status, goals and financial preferences. They map out a plan to meet a person’s financial goals. They are also mandated to disclose their fees and services to potential clients.

They are consulted in matters of insurances, retirement plans, pensions, investment, real estate, tax and other legal issues. One of the advantages of hiring an independent financial planner is that they are free from representing any conflict of interest. Most planners who are working for a company, bank, or insurance may place their own interest before your own. This makes them less dependable and ineffective.

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What do you look for in an personal financial planner? He or she must be a member of the National Association of Personal Financial Advisors of NAPFA. With this kind of affiliation, a full disclosure of their fees will be shown to you before they manage your assets or help you implement your financial goals.

Just like any other professional, ask for their academic credentials, licenses and designations. Knowing their capacity in line of their work is great information when it comes to looking for a qualified financial planner. Certain certifications and trainings required for all independent financial planners are available on the internet for your perusal and consideration. Take advantage of the information that you can derive from websites that offer listings of qualified financial planners.

When it comes to fees independent financial planners can charge by commission, fees, fee-only or a combination of both commission and fees. Study all these options and find out which one will be most effective yet affordable for you.

During the interview process, ask them the right questions like their work history, clientele, and their qualifications for the job. Independent financial planners will work harder since they are still working for a good work reputation. Also, do not forget to ask for a copy of their ADV form II which will disclose their past administrative sanctions or criminal offenses.

When entrusting your future into the hands of a financial planner, it is but right to make the necessary investigation. Listening to your intuition and finding out the work ethics of your financial planner is also crucial in matters of your financial future. It is best to deal with someone you are comfortable with. Find someone who is worthy of your trust and confidence.

With the right amount of information, good referrals, online inquiries, thorough interview, you are now ready to choose your own personal financial planner. A good investment guide is the best weapon you will ever have in the world of financial planning and investing. Good decision making, planning and execution will account for the kind of future that you will have. Find good independent financial planners now and reap the rewards of your hard earned money!

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