Whether you have a fixed, short-term goal, such as paying down debt, or you’re looking to draw up a comprehensive roadmap for your financial future, a Certified Financial Planner can be integral to the process.
To find a professional you can trust and to get the most out of working with them, consider the following answers to commonly asked questions.
Can I trust this person?
The credentials of a “financial planner” can vary widely. It’s best to ensure that your financial planner is a CFP professional. Certified by CFP Board, CFP professionals commit to high ethical standards and have made a commitment to CFP Board to act as a fiduciary, meaning they act in your best interests when giving financial planning advice. They must also acquire several years of experience delivering financial planning services and pass a comprehensive exam. These rigorous qualifications can offer you peace of mind that your financial planner is someone knowledgeable who has your best interests in mind.
Is financial planning for me?
A common misconception is that financial planning is only for those with a certain level of income or wealth, or for those who are nearing retirement. The truth is that financial planning is for everyone at every life stage.
For example, if you’re newly graduated and just starting your career, you may need advice on how to pay off student loans while saving for the future. A financial planner can help you prioritize these competing goals. Likewise, if you’re established, a financial planner can help you manage and safeguard your wealth for the next generation.
What value does a financial planner offer?
A CFP professional will learn about your financial goals and needs and can develop a holistic financial plan tailored specifically to you. Their education and experience make them uniquely suited to help you choose investments that align with your time horizon and risk tolerance, to help you save money on taxes and to assist you in planning for the future – including for the unexpected. With a CFP professional by your side, you can feel more confident in your financial future, whether you’re planning for college, retirement or growing your family.
Source: StatePoint