MONEY OBEDIENCE

back to the list of articles

Personal Financial Planners are professionals who specialize in helping individuals with a wide range of financial issues.

It can be very hard to find a trustworthy personal financial planner. The best way to find a good advisor is through referrals by a friend or another person whose opinion you trust. If you cannot find a financial advisor through your circle of friends and acquaintances, you still have a few options to find a financial advisor.

First, your neighborhood bank usually employs a financial advisor who will most likely give you advice free of charge. However, be aware that such an advisor will try to sell you the investment and savings products the bank will profit from. The advisor will get paid from his or her commission on the sale of that product, most often the bank's own. Unfortunately, it could be the case that such an advisor may be more driven by receiving a sales commission than by giving you advice most suitable to your situation. The same applies to any advisor who will give you advice free of charge or who invites you to a seminar.

Second, you can utilize some resources on the internet. For example, the Financial Planning Association maintains a website on which you can find financial planners who maintain a Certified Financial Planner designation. In my opinion this is the best designation available in the field at the moment. Certified Financial Planners also have to adhere to a code of ethics designed to protect you, the receiver of financial advice. Go to www.fpanet.org and look for a financial planner there.

Another way to find a financial planner is through the Garrett Planning Network. Check out the website www.garrettplanningnetwork.com and determine for yourself whether this type of financial advice is suitable for you. Unlike many financial planners, the financial planners in the Garrett Planning Network offer objective services to the needs of everyday people, and not only to people who have a minimum net worth or a minimum amount of investable money. These financial planners also work by the hour and can focus on specific financial tasks only, if you so prefer.