Legal & Financial

Finding a Qualified Financial Planner

Let's say that you, or a loved one, are looking ahead to retirement, and to the necessary financial planning that the process entails. Is charting that course a do-it-yourself job?

Well, maybe.

If you're a meticulous, well-organized record keeper, if you've educated yourself over the years about the ins and outs of savings accounts, mutual funds, stocks, treasury notes, and the tax questions they entail, if you’ve made some investments that have grown for you, and you feel comfortable with continuing the same path you're already on, you may be all set for a successful retirement future.

But if you're like most of us, your questions about such matters far outweigh your answers and you can probably use some advice from an expert when the sometimes thorny issues of retirement finances arise.

A professional financial planner can study your current situation, suggest an investment plan that fits your needs, and then re-examine your income and priorities from time to time and update your financial strategy as necessary.

Here are some tips for finding a qualified pro:

• Credentials such as CFP (Certified Financial Planner) or ChFC (Chartered Financial Consultant) on an advisor’s business card mean that he or she has received special training and has qualified for credentials granted by a professional association. Some planners may also have special expertise in accounting, law, or life insurance that would make them better candidates for helping with your particular situation.
• If a planner praises one particular type of investment above all others, or promises to significantly increase your assets in a short amount of time, that’s a major red flag that you’re in the wrong place. Bid that person a courteous adieu, and look elsewhere for qualified advice.
• When you've heard from a financial planner what he or she can potentially do for you, be sure to ask for references. Ideally, those references should have been clients of the planner for a period of several years.

The process of finding the right advice can take some research and some time, but it’s time well-spent. That’s because the true product of their advice is your own secure future.