Financial planners?

Question

Are they legit? what are some of the best ones out there?

Answer 1

Your best bet with a financial planner is one who DOESN'T work for a brokerage, such as Edward Jones or American Express. Find someone in the yellow pages who works independently and DOESN'T charge by commission on investments you make. You want to pay on a hourly/service based system. If they say they do not charge, they are going to be suckering you into investments that they stand to make a hefty load off of.

Answer 2

A license is not required to be a financial planner, it would be a good idea to use one that has a professional certification and excellent references.

According to the Department of Labor,
"Personal financial advisors may obtain the Certified Financial Planner credential, often referred to as CFP (R), demonstrating extensive training and competency in financial planning. This certification, issued by the Certified Financial Planner Board of Standards, requires relevant experience, the completion of education requirements, passing a comprehensive examination, and adherence to an enforceable code of ethics. The CFP (R) exams test the candidate’s knowledge of the financial planning process, insurance and risk management, employee benefits planning, taxes and retirement planning, and investment and estate planning. The exam has been revised in recent years. Candidates are now required to have a working knowledge of debt management, planning liability, emergency fund reserves, and statistical modeling. It may take from 2 to 3 years of study to complete these programs.

Personal financial advisors also may obtain the Chartered Financial Consultant (ChFC) designation, issued by the American College in Bryn Mawr, Pennsylvania, which requires experience and the completion of an eight-course program of study. The ChFC designation and other professional designations have continuing education requirements."

You can check for a listing of CFP's or more information at

The Financial Planning Association
4100 E. Mississippi Ave., Suite 400,
Denver, CO 80246-3053.
Internet: http://www.fpanet.org

For information about the Certified Financial Planner (CFP) (R) certification, contact:

Certified Financial Planner Board of Standards, Inc.,
1670 Broadway, Suite 600,
Denver, CO 80202-4809.
Internet: http://www.cfp.net

Answer 3

What it's me said. Plus interview a few. Remember you are hiring them just like you get hired for a job. Go with the one that gives you the best feeling. Money is about feelings not wealth or expensive stuff. There are organizations of CFP's.
You can go online and find some there too.