Whether it’s investment advice, reviewing your insurance coverage, or coordinating with an attorney regarding estate planning, a certified financial planner will keep you pointed in the right direction.
Though it’s possible to take care of your financial issues without help, it’s not optimal for your long-term financial health. A certified financial planner will have the training and experience to show you the best choices for your goals.
It’s too late once you’ve reached your retirement years, to recapture lost investment opportunities and undo investment mistakes. Use a financial planner as a source of valuable guidance. A competent planner will keep your budget and savings plans on track.
The Corpus Christi, Texas region has no shortage of certified financial planners to provide the services and information that will make the most of your nest egg.
With financial planning, it’s a matter of the sooner, the better. Starting out, you probably have few assets to manage. A financial planner will do his best to build that small pile into something that will provide security and a comfortable old age.
There are various online resources you can use when searching for a certified financial planner, but two good ones are:
The Better Business Bureau; click here for a list of BBB-Accredited financial planning consultants.
The CFP Board of Standards website has a searchable database that uses a multiplicity of factors to find the best planner for your needs.
Make use of recommendations from trusted friends and family as well. Someone who already uses a planner may provide valuable advice.
You should check a certified financial planner certification status before anything else. Enter the planner’s name and location in the CFP Board check tool; you’ll find out not just the planner’s certification status, but also if the planner declared bankruptcy in the past decade or if the planner has been professionally disciplined.
Another vital question to have answered is whether the planner is a fiduciary? A fiduciary financial planner is bound by law to hold your best interests paramount. With a fiduciary, you’ll have greater peace of mind.
A fee-based compensation model means that your planner is paid a percent of your portfolio every year. This payment method ties the planner’s income to how your money is performing.
A commission paid financial planner is remunerated by the financial product companies he represents. There is a risk of conflicts of interest with this compensation model.
Some financial planners are paid a combination of fee-based and commission income; this is possible where the planner also sells commission- based products like insurance.
It’s possible to pay a financial planner by the hour, which is possibly the best option for people with a few assets.
At the end of the day, speak with each planner you’re considering. Communicate your goals and worries and ask the planner how he plans to address your concerns. Consider each on their merits. Then, work closely with your chosen planner to keep your future on track.
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