Your Financial Partner
August 20th, 2010 | 
Author: Getting the right financial planner is a lot like selecting a good date with potential for long-term commitments. Instead of a romantic partner, however, a good financial planner is going to help you meet your lifetime goals by helping you manage your money better.
Depending on what age you’re at, you may need to learn how to create a budget, how to budget for a child’s education or your own retirement. A financial planner can help get you started in improving your financial health so you meet those goals with cash to spare. Here are a few tips on how to select the right financial partner that can stick with you for a lifetime.
Match Their Expertise to Your Needs
If you are more interested in retirement planning, seek out someone with that experience in his or her portfolio. If you want someone who can help you manage college planning, you’ll want to be sure they have experience in this area. Maybe you just want to set up trust funds for children, again, the financial planner should be knowledgeable in the area of your need and be able to advise you on the different options you have for safeguarding or growing your money.
Check Out Their Credentials
Even if they’re sitting in a fancy office with a receptionist, be sure to check their credentials. It may get a little confusing since there are various certifications for financial planners. However, ask them about their certifications and then go online to find out what guidelines the organizations follow for certification. This will tell you a whole lot more about what your financial planner can and can’t do for you.
Understand the Fee Structure
Since it’s your money, you’ll want to try to get the most services for the fewest fees. Ask how they expect to be paid. They will either be on a commission structure, a flat fee basis, or annual fee based on the amount of assets they are managing for you. Check out a few different planners and compare their prices and services to see which might make the most sense for you.
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