What Services do Financial Planners Provide

To be able to hire the best kind of financial planner, you first have to know what exactly you need or want from a financial planner. Different financial planners offer different advice and products. This is why it's best to find a financial planner who can meet your expectations. The minute you are armed with basic data regarding such factors, you could cut down a very long list of possible planners into a very short roster.

Different kinds of financial planners

CPAs: Certified Public Accountants have passed strict education requirements. Plus, they have undergone strict licensing exams. A CPA as a financial planner is best if tax issues are your concerns.

CFPs: Certified financial planners are among the most distinguished professional financial planners you could hire. Usually, these professionals have a required experience of about three years. Not to mention that they have passed no less than three examinations. Such individuals could help you with so many kinds of financial issues.

ChFCs: Chartered financial Consultants are usually insurance professionals who have specializations in certain areas of financial planning.

CRPCs: Chartered retirement planning counsellors are finance professionals with retirement planning as their forte. These professionals have to pass a strict ethical code and an exam.

How financial planners get paid

Here are the three common ways on how financial planners get paid -- through commission, flat fees, and asset-based fees. Those who earn by charging flat fees get paid whether you buy investments or not. Their fees would usually be for the advice per se or for putting up a financial plan. Financial planners who earn through commission get paid if they are able to sell an investment or a financial product.