King bell
VIP Contributor
When it comes to financial planning, it's important to choose a planner that you can trust. There are a lot of "financial planners" out there who are really just salespeople in disguise, and their only goal is to sell you products that may not be in your best interest.
So how can you make sure you choose a financial planner that won't rip you off? Here are a few tips:
1. Make sure they are a fiduciary.
A fiduciary is a financial professional who is legally bound to act in your best interests. This is the highest standard of care in the financial services industry, and it's the only type of financial advisor you should work with.
2. Check their credentials.
There are a lot of different financial planning credentials out there, but not all of them are created equal. The two most important credentials to look for are the Certified Financial Planner (CFP) designation and the Registered Investment Advisor (RIA) designation. Both of these require rigorous exams and ongoing education, so you can rest assured that the financial planner you're working with is up-to-date on the latest best practices.
3. Ask about their experience.
Financial planning is a complex endeavor, so you want to make sure you're working with someone who has a lot of experience. Ask about their specific experience with the type of financial planning you're looking for, and make sure they have a solid track record of helping clients reach their financial goals.
4. Inquire about their fees.
There are a few different ways that financial planners can charge fees, and it's important to understand how your planner will be compensated.
So how can you make sure you choose a financial planner that won't rip you off? Here are a few tips:
1. Make sure they are a fiduciary.
A fiduciary is a financial professional who is legally bound to act in your best interests. This is the highest standard of care in the financial services industry, and it's the only type of financial advisor you should work with.
2. Check their credentials.
There are a lot of different financial planning credentials out there, but not all of them are created equal. The two most important credentials to look for are the Certified Financial Planner (CFP) designation and the Registered Investment Advisor (RIA) designation. Both of these require rigorous exams and ongoing education, so you can rest assured that the financial planner you're working with is up-to-date on the latest best practices.
3. Ask about their experience.
Financial planning is a complex endeavor, so you want to make sure you're working with someone who has a lot of experience. Ask about their specific experience with the type of financial planning you're looking for, and make sure they have a solid track record of helping clients reach their financial goals.
4. Inquire about their fees.
There are a few different ways that financial planners can charge fees, and it's important to understand how your planner will be compensated.