A recent study by Emoney found that out of 104 million households who want financial advice, 88 million want advice from a financial planner. In that same study, two-thirds of households did not have a formal financial plan, and about 49% felt “stressed” or “overwhelmed” about their financial situation.
For households to have confidence in their financial future, they need ongoing reliable advice from a qualified source. That is where a skilled financial planner is essential. The following are some things to look for when hiring a financial planner:
- Has a credible designation – many financial professionals call themselves financial planners, but you need to look for a financial planner who is a Certified Financial Planner (CFP). CFPs have been trained in all aspects of a client’s financial life and can provide a comprehensive review of your financial situation.
- Has extensive experience – you want to look for someone with at least ten years of experience working with clients.
- Reviews all aspects of your financial situation – look for a CFP who reviews all aspects of a client’s financial situation and provides holistic financial planning.
- Provides analytical and emotional advice – any financial planner can provide a financial plan. Look for a CFP that advises on a plan’s financial components and understands the emotional aspects of the different phases of your financial life.
- Provides continued support – some CFPs only provide the financial plan. Find a CFP that helps you implement all aspects of the plan and is available to answer all your ongoing financial questions.
- Provides referrals to other professionals – financial plan recommendations cannot all be implemented by a CFP. Other professionals, such as tax preparers, estate planning attorneys, insurance agents, etc., are part of the equation in helping clients reach their goals. A good financial planner can provide referrals to other professionals.
- Has a defined process – a good CFP has a process that ensures accurate information is gathered, your goals are clearly defined, and solutions are found to help you live your best life.
- Has technology tools to help you track your progress – having online tools to track progress toward your goals and keep financial documents is essential.
- Partner for your future – having a CFP who cheers on your successes and helps you when you are struggling is critical for realizing your goals.
Financial planning is essential to your financial life; having a qualified CFP can be life-changing.
Mario Hernandez has been a Certified Financial Planner (CFP) for over 30 years and brings a vast amount of experience in the financial planning and investment management business. Through Longevity Wealth Management, Mario provides holistic planning services that help clients find solutions to live their best life. Mario’s email address is mario@longevitywealthmanagement.com. Securities offered through Osaic Wealth, Inc. member FINRA/SIPC. Investment advisory services offered through Longevity Wealth Management. Osaic Wealth, Inc. is separately owned and other entities and/or marketing names, products or services referenced here are independent of Oasic. Certain insurance products are offered by Mario Hernandez as a licensed agent independent of Osaic Wealth, Inc.. Mario Hernandez is not affiliated with Osaic Wealth, Inc. or registered as a broker-dealer or investment advisor.
