What to Know When Finding a Financial Planner for Your Circumstances
Before you decide on the right financial planner for your family, it is important to understand that there are three main types of services financial planners offer. The first is financial planning that focuses on the type of insurance you need and how much you should save. They don’t really deal with investments.
The second type of services offered through an advisor that you can find in a financial planner directory has to do with investment management decisions. They help their clients decide which investments to make with which accounts.
There are also advisors who specialize in retirement income planning. They help a person as they examine pensions, investments, taxes, and Social Security. They will help a person plan a retirement date and figure out how they can retire comfortably.
When looking at a financial planner directory and trying to decide on the right financial planner for you, you need to look at the planner’s credentials. Also, find out how they will be compensated. Some charge an hourly fee. Others will charge based on your assets.
There are some basic questions that you should ask a financial planner before hiring them. Find out how long they have been practicing. Ask if they can walk you through various retirement projections. Be sure that they communicate well and that you feel comfortable asking them questions. Be leery of any financial advisor who uses testimonials.
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