Who is a financial planner & how much do they charge in avg?

Similar questions: financial planner charge avg.

Financial planners have a wide variety of backgrounds, be certified, & charge in different ways. See below for details. According to the US Securities and Exchange Commission:A financial planner typically prepares financial plans for his or her clients.

The kinds of services financial planners offer can vary widely. Some planners assess every aspect of your financial life—including saving, investments, insurance, taxes, retirement, and estate planning—and help you develop a detailed strategy or financial plan for meeting all your financial goals. Other professionals call themselves financial planners, but they may only be able to recommend that you invest in a narrow range of products and sometimes products that aren't securities.

When hiring a financial planner, you should know exactly what services you need, what services the planner can deliver, and any limitations on what he or she can recommend. In addition, you should understand what services you're paying for, how much those services cost, and how the planner gets paid. Financial planners charge for their services in different ways: some charge either a fixed fee or an hourly fee for the time it takes to develop a financial plan, but don’t sell investment products; some are paid by commissions on the products they sell; and others use a combination of fees and commissions.

Financial planners may come from many different educational and professional backgrounds. If you’re considering using a financial planner, be sure to ask about their background. If they have a credential, ask them what it means and what they had to do to earn it.

Some financial planners have credentials like CFP® certification or CFA (Chartered Financial Analyst). Find out what organization issued the credential, and then contact the organization to verify whether the professional you're considering did, in fact, earn the credential and whether the professional remains in good standing with the organization. For a helpful list of various financial industry credentials (including the name of the issuing organization and any education or experience required to attain the credential), please read NASD's Understanding Investment Professional Designations.

If the professional you're considering claims to be a CFP® certificant, visit the website of the Certified Financial Planner Board of Standards. The Board is an independent regulatory organization that licenses financial planners as CFP® professionals. Check to see if the professional is certified as a CFP® professional and whether his or her certification has been suspended or revoked by the Board.

You can also call the Board at (888) 237-6275 to obtain additional disciplinary information about the professional. The Certified Financial Planner Board of Standards also has brochures – What You Should Know About Financial Planning and 10 Questions to Ask When Choosing a Financial Planner – that will help you identify a financial planner who’s right for you. Financial planners who give investment advise to their clients must register with the SEC or the appropriate state securities regulator.

For more information about investment advisers, read our publication entitled Investment Advisers: What You Need to Know Before Choosing One. http://www.sec.gov/answers/finplan.htm--------The Bureau of Labor Statistics has a website that describes training and earnings, among many other things -- for this see: http://www.bls.gov/oco/ocos259.htm----An article entitled "Eight Things Your Financial Planner Won't Tell You" also provides good cautionary information. You'll find this at :http://articles.moneycentral.msn.com/RetirementandWills/CreateaPlan/8ThingsYourFinancialPlannerWontTellYou.aspx----It's not easy to find info on fees, because planners charge differently.

Here's one question and answer. I'm not sure how typical it is, but something to go on in any case: OT: What is a reasonable fee for Financial Planning? Posted by MI-Roger (more from MI-Roger) on Wed, 8 Feb 2006 05:18:24 --------------------------------------------------------------------------------Our Financial Planner is recommending we "upgrade" our level of service to their Premium Plan which has a $1200 annual fee.

We currently have the lowest level of service which includes a minimum of one (typically two) meeting per year with an "advisor" to discuss current conditions and provide recommendations. In addition, they like to have their clients purchase a Detailed Personal Financial Analysis every two years or so. These plans are around 100 pages thick and look at pretty much everything; income, expenditures, investments, insurance, pensions, wills, trusts, retirement, long range life events, etc.The basic service is free, the Analysis cost varies based on assets, but would be $700 for us.

The Premium Plan provides a minimum of three meetings per year, but can be unlimited if needed/wanted, with both a Certified Financial Planner and a CPA present to balance income driven investment decisions against their tax ramifications. It also includes free tax preparation, one of the three annual meetings. http://www.saabnet.com/tsn/bb/general/index.html?bID=177132 Sources: http://www.sec.gov/answers/finplan.htm .

Look for someone with a CFP certification. How to re a Financial Planner By Motley Fool Staff August 16, 2004 You've got a money question, and the guy in the next cubicle hasn't a clue how to answer. You need trustworthy information.

But where to start? We have an entire section devoted to the ins and outs of hiring a financial pro. But for the most general money questions, you're probably looking for a financial advisor, also known as a certified financial planner (CFP).

Financial advisors are the generalists in the field of money management. They can assess your overall financial picture with an eye on your investments, savings, debts, insurance, and other big areas of your money life. Some are equipped to offer estate planning advice or input on your tax situation.

Many make investment recommendations, such as mutual funds or even specific stocks. The best ones can objectively put your finances into context and help you arrive at the best money moves for your future. What a financial planner can do A financial planner can help you answer questions ranging from "should I refinance my house?" to "is it time to sell this stock?

" Most CFPs can: Answer specific questions Organize and orient your overall financial picture Shed light on budget realities and provide tips to reduce spending Assess your retirement savings Furnish a much-needed wake-up call regarding your debt or retirement savings Check to be sure you have all of the basic insurance you need and whether there are other holes in your financial plan Make mutual fund recommendations Cost The average cost of advice from a financial advisor starts at around $175 an hour (depending on where you live and the advisor's credentials). After that, the fee structure can get a little more complicated, as you can see in this comparison table. Since the first meeting with a financial planner is usually free, we encourage you to print out the checklist of questions we provide.

What to watch out for The sad fact is anyone can call herself a "financial planner" in most states. There is no licensing requirement and very little regulation. Noting a pro's credentials (those official-looking designations embossed on the letterhead) is your first line of defense in sussing out a pro.

The charlatans don't have and can't use these designations, so the credentials become your seal of quality. Of course, credentials don't tell the whole story of how much skill an investment professional possesses and whether she is the one for you. There's something to be said for that gut feeling you get when you meet with a pro -- whether you trust the advice being offered and feel the planner has a good understanding of your best interests.

Don't be fooled by colorful graphs presented to you laminated and perfect-bound. The software most planners use is widely available to those in the industry. Instead, look for substance, and proof that the advice applies to your situation.

You want to be wowed. Also be aware that most financial planners choose investments based on a limited pool of investment products -- mostly mutual funds -- that their firm offers. While that doesn't mean all their recommendations are duds, it might turn out that there are better options out there for your money.

You must decide whether you're willing to do a little legwork to find out. Sources: http://www.fool.com/personal-finance/general/2004/08/16/how-to-hire-a-financial-planner.aspx .

I need financial help" "I am planning a financial capital campaign kick off event for 130 people. What light foods should I offer w/ iced tea? " "new book by financial planner re: zen of money or something like that" "how much does a wedding planner charge for there services" "Financial Planning for a Sizable Windfall" "I'm looking for a financial crime that I can use in my novel." "Any one know a good financial planner (retirement) in Albuquerque area?

" "countrywide financial is it going under? " "can a financial institution charge my debit card without my authorization?" "write 5 sentences about the role of education in successful financial planning, in which you correctly use a different.

I am planning a financial capital campaign kick off event for 130 people. What light foods should I offer w/ iced tea?

New book by financial planner re: zen of money or something like that.

How much does a wedding planner charge for there services.

I'm looking for a financial crime that I can use in my novel.

Write 5 sentences about the role of education in successful financial planning, in which you correctly use a different.

I cant really gove you an answer,but what I can give you is a way to a solution, that is you have to find the anglde that you relate to or peaks your interest. A good paper is one that people get drawn into because it reaches them ln some way.As for me WW11 to me, I think of the holocaust and the effect it had on the survivors, their families and those who stood by and did nothing until it was too late.