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QUESTION:

How do I find a good financial planner?  One I can trust, and will not cost me a lot. 
Needs Help!


ASK YOUR MONEY’S ROSEMARIE BOYD ANSWERS:

Dear Needs Help:

The first and most important thing to remember is the old saying “You get what you pay for”.  When trusting your finances to a professional, don’t go “bargain shopping”!  Be prepared to pay a fee for the advice you seek.  Generally fees will run around $150 per hour.  Some planners charge a flat fee.

Secondly, in looking for a Financial Planner, you must remember that the designation is used by many people, including stock brokers.  When screening for the right person, look for one who is not only a Certified Financial Planner, but also one who is independent.  You don’t want someone who works for a brokerage firm or an insurance company.  Although they may be fine people, you want someone who can be totally objective because they are independent.

Finally, the best approach is to go to www.letsmakeaplan.org.  This is a CFP® web site.  Once you get to this web site, complete the information on city, state etc. and you will get a list of planners in your area.

Thanks for your question,

Rosemarie A. Boyd, CFP

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