1. How To Find a
Financial
Advisor
20%
of Americans actually plan ahead, when
75% want to plan ahead. Whether or not
you are the 20 or the 75 percent, here is
how you can find the right advisor to
guide your plan.
“Fee-only financial planners are
registered investment advisors
with a fiduciary responsibility to
act in their clients’ best interest.
They do not accept any fees or
compensation based on product
sales. Fee-only advisors have fewer
inherent conflicts of interest, and
they generally provide more
comprehensive advice.”
Only
Getting placed into expensive or poor
performing mutual funds since the pay-
out is larger for the fee-based advisor is
one example of a conflict of interest.
Where do I look?
Hire an advisor who doesn’t
steer the conversation to the
sale of a product. If they keep
pointing you toward one mutual
fund family, it may be a sign
that they get third party
compensation.
Quick Diagnosis
Don’t let the advisor prescribe
a mutual fund before he
knows what he's working
with. It would be like
accepting a band aid from
your doctor when you have a
sore throat.
Certified?
Make sure they have
certifications. These
certifications vary but the
most significant for financial
planners is the CFP®
CFPhony
Do not hesitate to ask them
what the slew of letters after
their name stands for. Most
advisors would love to tell you
what their certificates
mean, but only if they think
you’ll love the answer.
Services?
?
Ask them what services they
provide. Make sure they provide
comprehensive advice. Make
sure you’re on the same page.
You do what?
Some people claim to be
financial advisors when they
are actually stock brokers, tax
accountants, or insurance
salesman.
All Aboard!
The National Association of
Personal Financial Advisors
(NAPFA) is the country’s
leading professional association
of Fee-Only financial advisors.
www.NAPFA.org is a great
place to search for a fee-only
advisor near you.
Look Out!
The Person is the 44 State Rt. 23 North, Riverdale, NJ 07457
These financial
advisors or brokers are
mostly commission-
based and tend to have
more conflicts of
interest when
providing financial
planning services.
Fee-Only or Fee-Based
Look out for inexperience.
Research the company. Make
sure it is has its share of
experienced, educated
individuals.
www.highlandplanning.com
Info-Graphic
Provided by,