Finding The Right Financial Planner For You

Financial media have been abuzz about the fee-only financial planning phenomenon for several years. Most people don't know where to look for a reputable one and are advised by these media pundits that they choose from a variety of options. This is not the best way to go, I strongly disagree. I believe that the best way to choose such an important advisor is through a recommendation from someone you respect.

If you don't think that is an option, I would like to let you know about two organizations that are fee-only financial planners, the National Association of Personal Financial Advisors and the Garrett Planning Network.

NAPFA works almost exclusively with wealthy individuals. This is because they are extremely selective and only refer planners who meet their high education requirements Sebi registered investment advisers.



The Garrett Network  focuses on providing services that are billed by the hour and target their advice to middle income folks. The website also contains valuable information about questions to ask advisors from any source.

Your due diligence doesn't end when you get a recommendation from someone you trust, or if you use one of these online services, it has only begun. This decision is yours and only yours. Therefore, you should always verify the background of any financial advisor you are considering.

You should request their ADV Form from potential financial planners. Parts one and two are the most important. You can get a lot of information from these parts about their education, experience and system of reimbursement. In fact by going to  you can get an online preview of a large majority of advisors' ADV forms.

When interviewing potential planners, be sure to ask if they have any clients similar to you. This includes information about incomes and family situations. If you find out that they only have one client in their 30s, and all of them are retiring or near retirement, you can assume that this person is more knowledgeable about investing for retirement strategies than you.

A little research can help you find the planner that suits your needs, wallet, and lifestyle. However, no one can make this important decision except you.

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