Most people don’t have the skills required to handle complex investment decisions, but that’s why the universe invented financial planners!
Here are 7 tips to choose a qualified financial planner:
- Decide on some general financial goals and your specific needs (ie. insurance, estate planning, investments, etc.).
- Do some research before you meet them so that you are familiar with financial planning strategies and terminology.
- Choose someone with a professional designation, such as a Certified Financial Planner (CFP), Chartered Investment Manager (CIM), Fellow of the Canadian Securities Institute (FCSI) or Registered Financial Planner (RFP). This will ensure they are professionals, they abide by a code of ethics, and they meet the Canadian financial planning industry standards.
- Make sure you interview more than one financial planner to see if they have experience with clients such as yourself, and look for someone that you are comfortable working with.
- Do your homework by calling their professional association to check on their record and ask for references.
- Find out how they are paid and any affiliations or conflicts of interest they might have.
- Request a written contract documenting their scope of services and compensation.
To ensure your long-term financial security, it is very important to develop a solid financial plan, retirement strategy and investment portfolio. The steps you take to make these plans with a qualified financial planner now, will give you peace of mind for years to come.