Tags: Retirement | retirement | planner

How to Find a Retirement Planner

By    |   Saturday, 13 June 2015 06:07 PM

Caution and education are required to find a professional retirement planner with a track record of helping investors get the most out of their money.

While a competent and skillful investment planner can help add plenty of value to a portfolio, many so-called retirement investment experts hang out shingles when they don't have the proper training or experience to guide someone into a solid program that suits their specific needs.

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Doing your homework about a financial planner's background is crucial. While a stock broker might be great at turning you on to hot stocks, that person may not be trained in best investment practices, The Motley Fool warns. Certified financial planners are both licensed and regulated, it noted.

Fee-only retirement planners are a better way to go. Many financial advisers get paid by turning investors on to products that offer them the largest commissions.

Trained retirement planners work toward something known as the "fiduciary standard." This is a set of ethical guidelines that protect the interests of clients and also elevate the practice of advising, The Motley Fool added.

Don't be afraid to seek help. You needn't be wealthy to use the services of a financial adviser.

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"Financial planners are not just for rich people," Mike Garry, an attorney and certified financial planner, told USA Today. "Everyone, no matter where you stand financially, can benefit from the advice and guidance of a qualified financial planner. For those with modest means, even a one- or two-hour session with a planner can make a huge difference in their lives."

Garry advises shopping for a financial planner much like shopping for a doctor. While websites such as that of the Financial Planning Association can help consumers find someone near them, once you've located a few, it's appropriate to visit and see if you are a good fit, he adds. Some may also ask friends for a recommendation, but an initial consultation is crucial for trust and compatibility.

Consumers should not be oversold by an adviser.

"When you go to an investment professional, you are really looking for advice, not a product," Garry said.

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Caution and education are required to find a professional retirement planner with a track record of helping investors get the most out of their money.
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2015-07-13
Saturday, 13 June 2015 06:07 PM
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