How to Choose a Financial Planner

This Wall Street Journal online guide is well written and has lots of good advice anyone looking to hire a financial planner.

Here is a direct quote from the guide’s main points:

• Look for a financial adviser who is a certified financial planner (CFP). They’re licensed and regulated, plus take mandatory classes on different aspects of financial planning.
• Consider the planner’s pay structure. A planner who earns money based on commission rather than a flat, hourly rate could have an incentive to steer you in a particular direction.
• Read the code of ethics that your financial planner adheres to. Look for the word “fiduciary” and language that requires planners to look after your best interests.

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