While most financial planners are investment advisors, not all investment advisors are financial planners. Financial planning is the process of meeting your goals for your life with proper management of your finances. These goals can include buying a home, saving for future education for your children or planning for retirement and long term care. Financial planners will help you by providing a detailed strategy or financial plan to meet all of your financial goals.
When looking for a financial planner, you should know a little about the credentials you should look for. A certified financial planner (CFP) is the most significant credential you should look for. Planners with this credential have passed a rigorous test administered by the Certified Financial Planner Board of Standards about the specifics of personal finance. They also commit to the continuing education requirements that include financial and ethics classes. This credential is a good sign that you are getting sound financial advice from an educated planner.
Links for leads to financial planners:
- National Association of Personal Financial Advisors: https://www.napfa.org/ These planners accept no commissions, meaning their revenue comes from their clients only. This assures you that they will act in your best interest as you are their source of revenue.
- Garrett Planning Network: https://garrettplanningnetwork.com/ Garrett Planning is a group of certified financial planners that pledge to be available for small projects on an hourly rate. All planners are CFPs actively working towards their designation.
