If you are serious about saving for retirement or for your child?s education or for buying a home, you need the services of a certified financial advisor norfolk. Since there are so many people claiming to be financial advisors here?s how to sort the wheat from the chaff.
Check the License
All certified financial planners or investment bankers are licensed. If they do not have a license, move on. Although anyone can call themselves a financial planner, you need a license to be a certified financial planner Norfolk. A licensed certified financial planner has passed a strict test from the Certified Financial Planner Board of Standards (CFP). Go to the CFP website to verify that the license is valid. You can also check to see if that person has been disciplined by CFP or filed for bankruptcy in the last decade.
Check With the NAPFA
Along with the CFP, you can check the website of the National Association of Personal financial advisors for recommendations, which has stricter membership requirements than the CFP. None of the financial planners in this group work on a commission basis.
Run a Background Check
You will be trusting this person with all of your money. At least Google the person?s name before you hand over a cent.
Understand the Pay Structure
Financial planners and investment bankers make their money in one of three ways ? they receive a commission, they get paid hourly or get paid a flat fee. Some people prefer to work with those paid by commission because these workers have a personal interest in seeing you make money. Others prefer fee-only financial planners because they always know how much they will be spending each year. Make sure you know how much you are supposed to pay before choosing a financial planner.
Talk About Your Financial Goals
Make your potential financial planner knows your long-term financial goals, such as making enough money for retirement. This will not only help you get a good feel for the candidate, but will also let the candidate know if he or she can reasonably help you reach your goals. Ask about what services the particular financial planner can offer you.
