When it comes to your personal finances, you need a trusted professional to help guide you through the different stages of your life. A lot of us wait until something happens before we seek help. Finding a financial advisor can be helpful because you can be assured that you have a plan that will work for you.
The services of a financial advisor are far more than just the role of a stockbroker. You can get advice on long-term care coverage insurance, estate paperwork, business investments, and more whenever you meet.
Having your retirement plan in order is important to your quality of life and care when you are older. If you are just entering the workforce, then do not delay in meeting with an advisor so you can start making tax-deductible contributions to your future. Starting early also gives you the best chance of using your income to make more money over time. Even a small annual return can start to add up over the years.
The length and amount of meetings you have with your financial advisor are dependent on your assets, goals, and age. You should be meeting at least annually and then whenever you have any major financial changes or concerns. Getting married, divorced, or sending a child or grandchild off to college, are all major things that can lead to an extra visit with your financial planner.
It is important to make sure you get a planner that can handle meeting you as often as you would like. Of course, be prepared to pay more for services if you expect to meet often. Be sure you are clear when you sign on with a planner, how many consultations and services are included for the fees you agree on.
Trusting someone with choices that have a large impact on your life is big decision. If you have absolutely no one that advises you on financial matters, you may want to meet with two or three different planners and compare what they can offer you. This can also help you find an advisor who has fees that are reasonable for you to pay and one that takes your goals seriously.
Here are a few places you can use to start your search for a financial advisor that has proven themselves to be worthy of accreditation and recommendation to others.
Your local Better Business Bureau can direct you to a large volume of dedicated financial planning firms in your area that meets high standards for client services and customer service. Their site offers a list of links and complete contact information.
If you want a financial planner that has some extra credentials, then the CFP website is a great place to take a look. You can sort planners by the size of assets they are willing to manage, so this saves a lot of hassle.
The CFP keeps good track of all client concerns and opinions so you can always find a quality firm to work with to meet your financial goals.
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