The journey to financial freedom is characterized by a series of informed decisions. Since most people do know what it takes or what to do in matters personal finance, the best thing is to enlist the services of a financial planner. Getting the right financial planner requires you to do due diligence on your part. Here are five essential things to look when looking for a financial planner.
The first thing to look for in a financial planner is their qualifications. The first step to becoming a financial planner is acquiring relevant education and certifications. The best way to go about this is to look at their certification. The certified financial planner (CFP) and the Personal financial specialists (PFS) are two highly regarded certifications that only awarded individuals with the relevant academic qualifications and experience.
Experience is an important consideration when choosing a financial planner. If you are looking for a personal financial planner, the most important thing is not just their experience but their specialization. As such, you might have some financial planners experienced in chalking our investment plans, filing tax returns, real estate planning, among other specializations. Thus, it is up to you to choose someone with relevant experience in the subject matter.
How much does the financial planner charge for their services? How much are willing to pay? When looking for a financial planner, you will realize that there are some that for their services and those that are there to make money. Ideally, you should only work with a planner whose fees are reasonable and set in a way that will see you benefit.
The availability of a financial planner is should only be a major concern for someone that wants to have their services for an extended period. As such, you need to have a clear idea of the client to planner ratio. You are also at liberty to ask them about things like the maximum number of clients they can serve as you assess their availability to you. Not just that, you also need to ensure that the planner is always at your service by assessing their availability on phone, email, and any other communication channel convenient to them.
Shortlist a few
Based on initial consultations and your assessment, shortlist a few candidates for this position, Narrowing down your options to a few candidates allows you to be more objective in the selection process. As a result, this will improve your chances of the getting the right man for the job.