Financial Planner|財經線上App不用買-HotApp4Game

The time and research you should put in to finding a financial planner is no different than the time and research you should put into finding a good family doctor. You are looking for someone you can trust and guide your financial health, after all. But how should you start your search? According to the National Association of Securities Dealers (NASD) there are no fewer than 69 different financial credentials that you may run into. This article will attempt to help you narrow down your search before you even pick up the phone and start calling prospective planners.

As with a family doctor, the best place to start your search is referrals from friends and family and ask who they work with. The best planners out there will tell they get the majority of their new clients from referrals. You can also use the internet to look for planners in your area. A few websites out there provide good starting points. The Financial Planning Association (FPA) website includes planners who are fee-only, fee-based, or commission-based. The National Association of Personal Financial Advisors (NAPFA) website only includes those planners who adhere to a strict fee-only compensation model. All three compensation models will be explained below.

When deciding what type of planner best fits you and your family's finances there are four areas to consider: credentials, experience, how they are compensated, and to what regulatory standards must they adhere to.

Credentials

Of all the credentials in the financial world, the four most common are CFP, CPA-PFS, ChFC, and CFA.

1. Certified Financial Planner (CFP) - Awarded by the Certified Financial Planner Board of Standards, or CFP Board, to individuals who meet the CFP Board's education, examination, experience and ethics requirements. A professional with a CFP designation should have a broad knowledge of all aspects of financial planning including investments, estate planning, retirement planning, insurance and taxes. The designation means the person has passed rigorous examinations and met certain requirements.

2. Certified Public Accountant - Personal Financial Specialist (CPA-PFS) - CPAs, by trade, have a more extensive background in tax issues. A PFS designation is awarded by the American Institute of Certified Public Accountants to CPAs who have taken additional training or already hold a CFP or ChFC designation.

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