Recommendation; avoid getting involved with a financial planner who is completely new to you. Ask around from people if they know anyone they trust in financial planning.
Meet only those financial planners who come recommended.
Choose the financial planner who is with the Planning Association so that the person is following at least a certain code of ethics. Before you sign up to show them your books, meet with them and ask them about their experiences, qualification and specialization.
Make sure that they understand your problems and what you expect from them.
One of the most widely used standards adopted by practicing financial planners in several countries is the CFP service mark which originates in the United States.
However, each country has its own rules and laws about how this certification can be used in promoting or practicing financial planning (for reasons of consumer protection and to comply with local financial services legislation).
For example, in the UK, it is conferred by the Institute of Financial Planning and the FPSB UK, now an accredited body for awarding qualifications on the Qualifications and Credit Framework (QCF).
Financial Advisor, Financial Consultant, Investment Advisor, Financial Planner, Registered Representative, Stock Broker, Variable Products Agent or Insurance Agent are many of the terms used in the financial services industry to describe the professional duties performed. Fee based or commission based compensation are terms which get thrown into the mix, causing client confusion.
In reality, a licensed professional can have all of those titles, perform all of those services, which we just identified, and work in a fee or commission based capacity with a client.
Meet only those financial planners who come recommended.
Choose the financial planner who is with the Planning Association so that the person is following at least a certain code of ethics. Before you sign up to show them your books, meet with them and ask them about their experiences, qualification and specialization.
Make sure that they understand your problems and what you expect from them.
One of the most widely used standards adopted by practicing financial planners in several countries is the CFP service mark which originates in the United States.
However, each country has its own rules and laws about how this certification can be used in promoting or practicing financial planning (for reasons of consumer protection and to comply with local financial services legislation).
For example, in the UK, it is conferred by the Institute of Financial Planning and the FPSB UK, now an accredited body for awarding qualifications on the Qualifications and Credit Framework (QCF).
Financial Advisor, Financial Consultant, Investment Advisor, Financial Planner, Registered Representative, Stock Broker, Variable Products Agent or Insurance Agent are many of the terms used in the financial services industry to describe the professional duties performed. Fee based or commission based compensation are terms which get thrown into the mix, causing client confusion.
In reality, a licensed professional can have all of those titles, perform all of those services, which we just identified, and work in a fee or commission based capacity with a client.
from Choosing A Financial Planner
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