Looking for a financial planner can be a challenging experience, particularly if you want to hire an individual or a company that will not only suit your needs but your personal preferences. Therefore, before you decide to make a decision to hire one of these professionals, it is important that you are familiar with their expertise and what is required of them. Once you know more about financial planners and what they really do, you will also know what to consider as you make your final determination of which one will be best for your family.
Look into Referrals from Family Members and Friends
Thankfully, there is a huge amount of information and data online about this profession that you can review. At times, however, it can be overwhelming since there is so much available online that you can benefit from. In fact, some people may even compare this decision to choosing the right physician since this professional must always have your interest in mind as a top priority. So, when you start your research, you may decide to talk to your closest friends and family members to see who they may recommend. Hence, referrals are usually the first things that you should look into as you decide which ones are best for your personal situation.
Look for the Right Certifications
Aside from looking to friends and family members for good referrals, you should also seek out those financial planning services surprise az professionals in the business that have the credentials that you need. For example, once you begin performing an exhaustive research in this industry, you will find that there are at least 4 common types of credentials in the financial world and each will have their specific distinctions. Here is a brief overview of each.
Certified Financial Planner
These professionals are awarded this credential by the CFB Board or the Certified Financial Board of Standards and the knowledge that they bring to the table includes a large span of different financial venues like estate planning, retirement planning, taxes and insurance.
Certified Public Accountant: These professionals are awarded this credential by the American Institute of Certified Public Accountants and the knowledge that they bring to the table includes an extensive background in tax issues.
Chartered Financial Consultant
These professionals are awarded this credential by the The American College in Bryn Mawr, PA, and the knowledge that they bring to the table is similar to the CFP (certified Financial Planner) which includes a variety different financial areas including estate planning, retirement planning, taxes and insurance. Chartered Financial Analyst: These professionals are awarded this credential by the CFA Institute and the knowledge that they bring to the table covers financial areas that cater to firms that participate in mutual funds, asset management and pension funds.
Another key to finding a financial planner that will work best for you is the amount of experience that they possess. Typically, you want to make sure the individual or company has at least 5 to 10 years of industry specific experience.