If you are on Google searching for a financial advisor, what are you really looking for? An independent financial adviser? Wealth management? Investment advice? An asset manager? Financial advice? A financial advisor near me? Retirement planning? The best asset management team in Knoxville, Maryville or Oak Ridge?
We think what you are really looking for is a Certified Financial Planner (CFP®). Below are ten questions you should ask if you’re interviewing a prospective advisor.
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Choose a CFP®: Out of 170 different professional degrees for financial planners, the Certified Financial Planners ® have more training and higher standards to meet – and this is the best way to ensure that your best interests come ahead of your financial planner’s interests.
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Ask who will handle your account and make sure you meet them.
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A CFP® has a “heart” based service orientation – make sure the person you are interviewing is listening to you.
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Ask about the compensation structure – it should be transparent.
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Inquire about their experience – look for a minimum of three years.
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Ask about their qualifications – look again for the CFP® designation since it means they must complete mandatory continuing education.
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Ask what financial planning services are offered and make sure they are registered.
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Find out about their approach to financial planning – make sure the investing philosophy is not too cautious or too aggressive for you.
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Also, look for a variety of services – investment management, retirement planning, and tax planning are just some of the services with a CFP®.
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Contact FINRA or your state insurance and securities board and make sure there are no disciplinary actions towards the financial advisor you are considering. https://brokercheck.finra.org/
You can download the full guide on our free resources tab on our website!
