How to Choose a Good Financial Planner for Your Needs?

A Financial Planner is a professional who can work as a wonderful strategist or advisor for you, as far as planning financial aspects are concerned. He can be a work with your insurance agent, tax advisor etc and ensure that all the varied parts of your own financial plan can work in synergy. If you want to hire a qualified financial planner to manage your personal finances, here are a few things to consider. Get quotes at for 2020 supplement plans.

Check the planning credentials

When you have a Personal Financial Specialist (PFS) or Certified Financial Planner (CFP), you can be assured that he has the necessary experience and education to help you with financial planning. PFS and CFP credentials are only given to people who have matched the certification requirements of expertise and education in personal finances planning. They also have to pass various certification tests and abide by the standards, practices and educational requirements.

Look at the Client Specialization

Keep in mind that not every financial planner can satisfy your requirements. Most of these professionals specialize in only specific forms of clients having particular profiles. For instance, a personal planner can develop his expertise and tailor his own services to only match those families and individuals who happen to be in specific professions or a specific phase of life with particular net worth and financial objectives. Before you hire a planner, ask whether he only specializes in specific clients with particular profiles. This will help you to understand whether or not he is the best professional to match your financial objectives and situation.

Check the fee structure

A financial planner’s fee structure mainly determines the interests of the individuals that he serves the best – his own or that of his clients. A professional who only charges fees for his advice is a Fee-Only planner. On the other hand, a Fee-Based planner charges fees as well as earns referral fees, commissions and various other financial incentives over the different solutions and products that they suggest. Thus, Fee-Only planners are likelier to offer more unbiased advices than a Fee-Based planner.

Look at the availability

The planner needs to be regularly accessible, attentive and available for you. Ask about the number of clients he serves at present and whether he will be the one to offer you personal services or a member of his team will offer the same. You must consider the clients-to-planner ratio to assess the availability of your planner.