Financial Planners 101
The term "financial planner" has no legal definition. Just about anyone can call him or herself a "financial planner" or "financial advisor." Some of the people who call themselves "financial planners" are really nothing more than financial product salespeople trying to earn commissions. They may not have your best interest at heart. Even if they do care about you, they are not likely to have sufficient background and training to coordinate all aspects of your financial life.
At the other extreme, a comprehensive financial planner can help advise with all aspects of your current and future financial life, including advice about picking an investment strategy and how to best meet your financial goals.
Understanding what a "real" financial planner does and what the different combinations of letters that may follow their names means, will help you find a financial planner who meets your needs.
When choosing a financial planner, take advantage of the free consultation most planners offer and vet the planner to see if he or she is top grade, but also works for your particular situation and needs.
If you use a financial planner it helps to understand your financial situation and to do your own research to identify the options available to you. Research can make you a more informed consumer. (Just as knowing about your medical condition makes you a better consumer of medical care).
For additional information, see:
- Financial Planners Defined
- Do I Need A Financial Planner?
- How To Choose A Financial Planner
- How To Prepare For A Meeting With A Financial Planner
NOTE: Our website provides personalized information to help address many of the financial problems your condition raises. Consider looking at the general category Finances, for particular topics in the above pull down list, or obtaining an Individual Action Plan which provides information tailored to your particular situation. A financial planner can be helpful if you require more personal attention than we can provide. A financial planner can also save you time, energy and money.