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Jun 16, 2008 10:51 am US/Pacific

Shopping For A Financial Planner

QUESTION:  What should I look for when shopping around for a financial planner?

ANSWER:  I would suggest you start looking for an independent financial planner.  A financial planner that does not have any proprietary products to sell.

I would also suggest a financial planner that has been practicing for at least eight years.  The eight years may seem like an odd number, however this would indicate that the individual would have seen both a very bad market during the years of 2000-2002, as well as a very good market in 2003-2007.

I would also suggest that you meet with a Certified Financial Planner (CFP) or Chartered Financial Consultant (ChFC).  A CFP/ChFC is going to be educated on topics ranging from insurance, tax, investment, and estate planning among other issues.  I would suggest that everyone research any and all designations the professional you are working with espouses to have attained.


Money Matters is provided by:

David Schauer, CFA, MSFA, CFP®
Financial Planner
Hanson McClain
E-mail questions to moneymatters@kovr.com


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