3 Questions To Ask When Meeting With A New Financial Planner

If you have started thinking about your future, you may have decided you need to have a sound plan to ensure you will be financially stable. If so, you may also feel you need the help of a financial planner but are unsure of how to select one. If so, ask yourself and the individual the following three questions when meeting with a financial planner for the first time.

Is The Planner Certified?

When you first walk into the planner's office, look on the walls to see if they have any documents on display, such as educational credentials or certifications as a financial planner. These documents are important because it shows that your planner has received training and has been board certified to handle other people's money.

If you do not see any certifications, ask the planner about them. Even if they say they have the required background, ask to see proof. If they cannot produce it, you may want to go elsewhere and find a financial planning service that is upfront about their qualifications.

Do They Work On Commission Or For A Flat Fee?

Another question to ask is about how the planner will be paid. The person may state that they work on a commission basis. If so, you may want to be cautious about using this person for your financial planning. They may have a vested interest in certain products that could bring them more money, and they may try to push products that you neither need nor desire. 

Ideally, the financial planner and their services should work on for a flat fee based on the services provided, such as money marketing or retirement planning. This gives the planner a more objective view on products that may best serve your purposes.

Does The Financial Planner Make Promises About Market Returns?

When meeting with the financial planner, ask them about market returns if you decide to invest in the stock market or CDs. If they start making guarantees on the returns, you may want to find another service. This is called market bragging, where a planner makes promises about a sometimes unpredictable market.

If your financial planner gives you a realistic overview, however, this means that they are open about their limitations in foreseeing future returns. They will most likely give you the most accurate predictions, as well as work with you in trying to ensure you make money by switching markets or selling shares.

After investigating the above questions, you may decide that the person is someone you can trust with your finances. If so, discuss your situation with the financial planning service so you can begin mapping out your financial future with their help.

About Me

Creating A Better Financial Future

About a year ago, I realized that there were some issues with my financial picture. It seemed like no matter what I did, I just couldn't get ahead. I started thinking about it and I wanted to make a better life for my family, so I started working harder to manage my finances. I started by creating a little budget and focusing on sticking to it, and it was really incredible to see how well things progressed. Within a few months, our entire financial picture changed, and I knew that I owed it all to my improved financial planning. This blog is all about creating a better future.


Latest Posts

4 March 2024
Managing your wealth effectively is crucial to securing your financial future and achieving your long-term goals. Whether you are a seasoned investor

27 October 2023
Tax preparation season is just around the corner, and if you're like most people, you're likely feeling stressed about it. With so many rules and regu

14 June 2023
You have many financial concerns at different phases of your life, but you don't want to put off retirement planning. It's a good idea to start as ear