Financial planners exist to help people make the best use of their financial resources – whether they are professionals, managers, or executives – by creating a structured financial plan. Monetary concerns affect every aspect of our lives, and having a qualified professional giving you advice can be extremely helpful.
- Look for the correct qualifications
There are different designations that analysts can have, each demonstrating a certain level of competence and commitment to personal development in finance.
- Check the financial planner’s licensing and registration
Before hiring a planner, find out whether they are legally allowed to work as such. Check that they hold a valid license from the Financial Industry Regulatory Authority (FINRA) or your country’s equivalent agency. Ensure that they are registered with FINRA, then check their disciplinary record to ensure there have been no complaints.
- Determine their area of expertise
A financial planner should specialize in a particular field, such as stocks, insurance, or real estate. Be aware of those who practice one type of service and offer other types. These individuals may not have enough experience to give you good advice on all issues related to finance and can end up creating conflicts of interest by offering you guidance in areas they do not specialize in.
- Get to know the financial planner’s firm
Find out what the company stands for, whether it is a company that specializes in your industry or one that offers other services as well. Make sure that they have experience and a good reputation before making any decision. In addition, find out if other analysts or planners are working at the same firm who can help answer your questions and provide additional insight.
- Seek recommendations from business contacts
If someone you trust has used a financial planner, ask them about their experience and what type of work they did for them. It may also be helpful to read reviews online or offline.