As a financial planner, you probably already know all of the best techniques and methods for a business to earn more money, to lower its costs and to overall better manage its finances. So you’ll almost certainly agree with the idea that, as a financial planner (or anyone who is an expert in managing finances [...]
The questions in this guide will help you interview and evaluate several financial planners to find the one that’s right for you. You will want to select a competent, qualified professional with whom you feel comfortable, one whose business style suits your financial planning needs. An interview checklist has been included for your convenience.
Somewhere in the education system for financial planners, the curriculum missed one little detail. People die unexpectedly! Estate planning attorney’s missed that class also.
For all the good that can come from the advice of either profession, none of the advice works if they take months, or years to finally come up with the perfect plan…..and their client is dead or has been rendered uninsurable due to cancer or heart disease. I’ve seen it happen more often than it ought to and I hope the family has the presence of mind and the resources to sue the pants off of the poorly advised advisor.
Whether an estate attorney or financial planner, the first thing they should advise if a person doesn’t have life insurance in force, is to get some. Buy term insurance. Keep it cheap and easy to walk away from, but don’t go into a planning process that always takes longer than it should, uninsured.
Not long ago I had a client who kept waiting, against my advice, for a
If there is one thing I can't stand is people who think paying off your home is a bad thing. I talk to many people and most of them talk to their Financial Planners or CPAs and want to get their opinion on the Money Merge Account from United First Financial. The most common response I get is their Financial Planner/CPA said that instead of paying off their mortgage to use their discretionary income and invest it. Now, I'm not a Financial Planner or CPA, but I do have common sense. I've ridden the investment roller coaster many times and lost my butt (remember the Internet boom in 1998). So, I don't understand how someone can give advice where it would be better for a person to put money in an investment instead of paying off their mortgage FIRST, THEN investing. To put this to rest, let's look at some hard numbers:John Doe gets paid bi-weekly and has $500 in discretionary income. He has a mortgage of $200,000 at 6% 30 years fixed which has a payment of $1,199. Using the Money Merg
The best time for young people to consider hiring a financial professional "is when you land your first real job," says Barbara Roper, director of investor protection for the Consumer Federation of America. "At that point, you have a variety of financial issues to consider, such as your 401(k) plan and your benefits," and a financial plan will set you on an appropriate course, she says.For savers with modest assets, Ms. Roper says, a fee-only planner is generally the best match. These planners only sell their time, at a cost of between $100 and roughly $250 an hour, depending on where they're based geographically. Because they don't pitch products tied to a particular company, "it minimizes the potential conflicts," she says.To find local planners, consumers should ask friends, family and colleagues if they can recommend someone they trust. Several Web sites, including the National Association of Personal Financial Advisors (napfa.org), the Financial Planning Association (fpanet.org)
The best time for young people to consider hiring a financial professional "is when you land your first real job," says Barbara Roper, director of investor protection for the Consumer Federation of America. "At that point, you have a variety of financial issues to consider, such as your 401(k) plan and your benefits," and a financial plan will set you on an appropriate course, she says.For savers with modest assets, Ms. Roper says, a fee-only planner is generally the best match. These planners only sell their time, at a cost of between $100 and roughly $250 an hour, depending on where they're based geographically. Because they don't pitch products tied to a particular company, "it minimizes the potential conflicts," she says.To find local planners, consumers should ask friends, family and colleagues if they can recommend someone they trust. Several Web sites, including the National Association of Personal Financial Advisors (napfa.org), the Financial Planning Association (fpanet.org)
The best time for young people to consider hiring a financial professional "is when you land your first real job," says Barbara Roper, director of investor protection for the Consumer Federation of America. "At that point, you have a variety of financial issues to consider, such as your 401(k) plan and your benefits," and a financial plan will set you on an appropriate course, she says.For savers with modest assets, Ms. Roper says, a fee-only planner is generally the best match. These planners only sell their time, at a cost of between $100 and roughly $250 an hour, depending on where they're based geographically. Because they don't pitch products tied to a particular company, "it minimizes the potential conflicts," she says.To find local planners, consumers should ask friends, family and colleagues if they can recommend someone they trust. Several Web sites, including the National Association of Personal Financial Advisors (napfa.org), the Financial Planning Association (fpanet.org)
In the attached podcast, I’m coming back from a 2nd meeting I had a with a financial planner… I recorded the Anecdote:
Adversity/Aspiration: The financial planner was going after the typical “wealthy business owner” market. He wanted to make his marketing efforts more effective. He knew his marketing wasn’t focused, but didn’t know exactly where to begin.
Advice/Actions: My podcast showcases how I started to help him explore & define the right target market Community. Listen how we’ve started to uncover the answers to these questions:
1) What are the common Demographics of your target market community?
2) What’s their mindset, Psycographics, symptoms, aspirations & adversities?
3) What are their common hobbies & Habits that exhibit their community belonging?
4) How does your community spend Money on complimentary & competitive products & services?
5) What are th
As a financial planner, you probably already know all of the best techniques and methods for a business to earn more money, to lower its costs and to overall better manage its finances. So you’ll almost certainly agree with the idea that, as a financial planner (or anyone who is an expert in managing finances [...]
