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Financial Planning Insights

Tips to Finding the Right Financial Planner For You

By The Chandler & Knowles Team | | 0

Financial planning is so important so that you can live comfortably now and in the future when you Financial planning want to retire. You also want to invest wisely so that your money will continue to grow. A financial advisor is great when it comes to organizing your finances, putting you on a budget, and helping you to plan for the future. However, it can be hard to find someone that you trust.

How To Begin 

  • First, you should meet them in person in their office. Good financial advisors are busy. They also have a professional office which is where you should go to meet someone. You need to feel comfortable with the person that you choose to watch your money.

  • Double check that the qualifications about current. You can call to find out if your financial advisor is current with his CFP license.

  • Choose a fiduciary. Basically, a fiduciary pledges to plan your finances in your best interests. Those who are not fiduciaries are held to a lower standard. They can sell you anything that would work, not necessarily anything that is the best for you.

  • Advisors should stay on top of your accounts. A good advisor will call you every so often to see if you have any changes or if you want to do more with your accounts. At the very least, you should talk to your advisor once a year, though it is better if you talk more.

How Do I Know If A Financial Planner Is The Right Fit?

  • Your financial planner should listen to you. Everyone is different when it comes to how they choose to invest and spend their money. Some people are willing to risk their money to make a profit while others prefer to invest their money wisely, even if they only make a little bit of money. It is important that your planner listens to you and helps you invest your money the way financial planner that you are comfortable doing so.

  • It is important to have a financial planner who is able to help you long-term and wants to build a relationship with you. Unfortunately, managing money is not a once and done thing. Things happen in life and you may start making more money. You may also lose your job and need to re-budget correctly. The stock market changes rapidly so you need someone who is willing to monitor your investments and talk to you about making any changes that are necessary.

  • Your financial planner should be patient. Most people are not very smart about their money. They need a lot of help and guidance to make good financial decisions. A good financial planner will be patient and help you understand why they are making certain recommendations. Maybe they will give you several options and discuss the benefits and disadvantages of each.

  • You and your financial planner need to have the same goals. What are your goals for getting an advisor? Some people just want to make sure that they can retire. Some need help getting out of debt so that they can even think about retirement. Some just want to invest their money more wisely. You need to make sure that your planner will help you with what you need in terms of your money.

  • You need to trust your financial planner. They are going to be helping you invest your money and get you set up for retirement. They may even help you get out of debt if you are struggling so it is really important that you trust the person who you choose

Questions To Ask 

  • Ask about their typical clients. Many advisors specialize in clients who make a certain amount of money. They are good at managing a certain amount of money so if you don’t, don’t questions to ask financial planner bother wasting their time.

  • You should ask how aggressive they are with investments. It is important to find an advisor who is on the same page as you, whether you like to make safe investments or you like a little (or a lot of) risk.

  • Don’t hesitate to ask about experience and qualifications. You need to find someone who has worked with many people to help them prepare for their future. Good advisors continue to grow and learn so that they can give you the latest options when planning your retirement. You should find a Certified Financial Planner or CFP.
  • Payment is important so you need to find out about the fees. Most good financial advisors have a fee. Rarely do they work on commission. Also, you should always pay a business or financial institute, not the person himself.

What To Look Out For 

  • If an advisor is aggressive, telling you that he will do more for you than anyone else can, walk away. A good financial advisor knows that there are risks with every investment. No one can guarantee that you get rich or have a high return quickly.

  • It is also important that your financial planner is not in it for the money. There are many financial planners who will push you to invest in certain places because it will help them to make more money, even if you are uncomfortable doing so.

Getting Started 

getting started with financial planner

Finding the right financial planner is important so that you know that you can be financially stable for the rest of your life. You want to meet someone first before deciding to use their services. Then, you need to make sure that the qualifications are good. Fiduciaries work in your best interest so, if possible, you should stick with them.

You may also want to dig a little deeper and make sure that their strategies will work for you. Some people prefer safer investments while others like the risk. Some advisors are better at safer investments while others advise on riskier accounts. Once you find someone you trust, stay in touch so that you can continue to have a bright future.

Contact us for your financial needs. We will help you invest for your retirement so that you can live comfortably in the future.

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Chandler & Knowles CPAs is dedicated to serving our clients with an integrated approach to financial success for businesses, families and individuals. Our knowledgable team is committed to providing you with the most detailed information to answer your biggest financial questions and to help make your life less taxing.

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