Your Ideal Financial Planner
We believe that a relationship with a financial planner isn’t one to be entered into lightly. Before selecting an individual to help guide you through life, we recommend you carefully consider the following criteria.
- Are they a CFP®(Certified Financial Planner) certificant?
This certification warrants formal training and testing in personalized financial planning and should be looked upon as a baseline for consideration.
- Do they operate under the Fee-Only compensation model?
This is important. Charging a commission should be a non-negotiable deal breaker.
- Do they accept fiduciary responsibility? In writing?
If so, they should have your best interest at heart.
- Are they a Registered Investment Advisor?
Be certain the individual is registered with the SEC (Securities Exchange Commission) or their State Securities Department.
- Are they truly an independent financial advisor?
Agents or employees of banks, broker-dealers, and insurance companies inherently serve two masters, in which the employer invariably is served first.
- Do they utilize Separately Managed Accounts (SMA) or actively managed mutual funds in portfolio management?
Advocating participation in either should raise further questions.