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Savannah Financial Advisors

Planning for the future is important. Planning your financial future is even more so. It can take years to achieve financial security, and a poorly timed mistake can cost you dearly.

Sadly, many people believe they are able to manage work, family, and the complexities of their financial lives. A certified financial planner can guide and advise you to maximize your investments, minimize your tax liability and help you toward your long-term goals.

You have a wide selection of certified financial planners available in Savannah, Georgia to help keep you on track to achieve your goals.

When is the Best Time to Start Using a Certified Financial Planner?

Some investments can take many years to mature. Retirement planning spans decades and savings can be slow to accrue. The best time to start using a financial planner is as soon as possible. The sooner you take advantage of professional financial assistance, the more you’ll benefit.

Finding a CFP

Finding a certified financial planner doesn’t have to be a difficult process. Start by asking people you trust for recommendations. Someone who already uses a financial planner should be able to provide valuable insights.

Try using online resources as well. The CFP Board of Standards searchable database will let you search for a planner using many different parameters. Search by financial planner specialty, a method of compensation, and location.

The Better Business Bureau is a reliable source of information. Take a look at their list of financial planning consultants in the accredited business directory for South Carolina

Find a Fiduciary

Be sure to ask if the planner is a fiduciary. Fiduciary means that the planner is required by law to put your interests first instead of just presenting a selection of options.

How are Certified Planners Paid?

Certified financial planners are paid in one of four ways.

One compensation method is called fee-based. This means that the financial planner is paid a percentage of your portfolio; the planner’s income is tied to how well your investments perform. This payment model can be in your best interest.

If the planner is paid by the commission based model, the financial product companies that he represents pay him for selling their products. This is not necessarily the best for you and there may be conflicts of interest.

When the planner sells insurance products (which frequently only compensate by commission) in addition to investment vehicles, he may be paid by a mixed compensation model; fee-based and commission.

You may also find financial planners who will accept payment by the hour.

Communication is Important

Once you’ve assembled a list of possible financial planners, schedule meetings with them. Listen carefully when they explain how they can help you. More importantly, explain thoroughly what your goals are, what you expect, and what your current circumstances are.

If you are careful, diligent, and do your research, you should be able to establish a long-term relationship with a trustworthy and competent financial professional. Don’t forget that this is the person you’ll trust with your economic health.

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