Finding A Financial Planner To Help Guide Your Finances

If you want to plan for your retirement and have no idea about the percentage of money you need to save for a healthy lifestyle, a financial planner can be of great assistance. However, some planners are unhelpful and can steer you off the right path. If you can find a competent financial planner who is on your side, you stand the best chance of gaining a comfortable retirement pot. Finding a planner through word of mouth is your best bet, but asking the right questions can kick start your sixth sense and determine whether the financial planner will support your goals or whether it will be a wasted fee, especially if they charge an upfront consultation fee.

Work Out How They Can Help You

When you ask a financial planner what their exact services entail, they should be asking you about what you need so that they can tailor their advice to your problem. If they do not provide this or their answer is miles apart from your end goal, the next step is to describe your need and listen to whether the planner’s job description fits your current situation. Will they recommend a particular investment for your company or will they look at your income and savings and work through your financial priorities firsthand? If you are not interested in purchasing and selling stocks, state this beforehand. Be open and honest about the type of service that you want from the financial planner.

What Are Their Qualifications and How Will They Benefit You?

A good set of qualifications can set a financially planner apart from his peers. You may be familiar with some of the qualifications, but have to research others. However, this is fine to do as you should not make a decision because you are unsure of whether a specific qualification would suit your needs. Ask what is different about their specific qualifications or research them and then make an informed decision.

Finding A Sound Financial Planner – Do They Have Contacts and Referrals?

It is always good to know that your financial planner has a host of contacts and referrals, should you require them to cover your needs. Solicitors and accountants are helpful contacts and should the need arise in the future for you to hire a person for these services; you will already know a trusted party who can assist. When a financial planner can give you several contact details of trusted individuals, this can be a time saving option.

Get Them to Describe the Average Income and Assets of Their Usual Clientèle

You want to choose a financial planner who is comfortable with your income and asset level. When you hire a financial planner who has prior experience with companies with your income and asset levels, similar problems may arise and there may already be a solution in place.

How Are They Compensated?

Many financial planners and advisers care only about profit and not the client. Does the financial planner take an upfront fee? If so, you can be assured that there will be no hidden fees. It is okay to ask how the planner is compensated before signing up for their services.

If you have no idea about pensions and you want to plan for your retirement, a financial planner can be a sound investment. However, there are certain questions that you must ask the planner before determining whether you two will be a good fit. Find out their qualifications, ask about their fees and ask the planner to describe the full service structure that they provide for clients. Try to find a planner who has trusted contacts in accountancy and law. A financial planner who takes an upfront fee will detail on the contract that there are no further charges.

Kay Brown is a writer who suggests approaching a financial planner if you have no idea about how a pension works. They can talk you through the process of carrying out pension reviews and other financial matters to help you understand your future.


  1. Constance J. Trevino says

    The title of ‘financial planner’ continues, however, to be used by individuals in the financial industry in most countries, as there are little or no legal barriers to prevent the use of the title. The governments in many countries where the financial planning profession is taking roots are beginning to play an increasingly active role in tasking themselves to ensure the market is orderly. More stringent laws and guidelines are being progressively introduced to keep the profession in check. Additional qualifications have also recently emerged that have extended on the financial planner series of designations, to include specialist skill sets like those in wealth management or private banking.

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