How To Choose A Financial Planner

Financial Planner

Published on July 4th, 2019

When you have a financial planner then you are guaranteed of receiving the best advice on how to invest and grow your money. They will help make the right kind of moves in your financial journey thereby helping you achieve specific goals. There are some that specialize in retirement while there are those that specialize in real estate while others on financial matters.

Sometimes you may end up confusing planners to stockbrokers but these are totally different people. Financial planners are also different from accountants who mostly help you in lowering your tax bill. While the insurance guys may try to get you different insurance policies.

Anyone out there can come out as a financial planner but this does not mean that they are actually real experts in the market. If you want to know that they are genuine then they should have real credentials that show that they are certified.

Most financial planners get their salaries from the commissions they get or by charging hourly or flat rates for their services. What is a commission? A commission is a fee that is paid whenever someone buys or sells a stock or any form of investment. Always try and avoid financial planners who rely on commissions to get their income. They will try to lead you to certain kinds of products so that they can benefit from the sales.

You need to look out for fee only financial planner atlanta rather than those who are out there to make money when you pay them. These planners do not cut from fund companies. You could decide to pay them a flat fee for your financial plan. An annual fee could also work well for you which is always 1% of some of your investments.

1. Should You Use A Financial Planner?


Most people will decide to go it alone when it comes to managing their own finances. It has worked for some while others it is one of the most hectic things to do. A lot of research is needed especially when it comes to mastering personal finance.

The older and wealthier your get, the more complicated your financial goals become. When choosing the right financial planner, you will have to take the following into consideration:-

2. Consider His Pay Structure

With this kind of consideration, what you are simply trying to avoid is commission based advisors. You may have to consider fee-only financial planner Atlanta due to the kind of structures that are provided.

3. Check Out On Fiduciary

This means that the planner must be someone who is willing to put your interests first, anything shorter than that is not a territory to consider. Most planners that are not fiduciaries are often held to a low standard.

4. Do A Background Check On The Planner

Make sure that you do a thorough background check on your planner before making any steps. He could be someone who has committed a crime before and is just looking for a way of stealing from people. You can even go further to check the list of clients that your planner has worked with in the past.