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#CreditChatWednesdays | 3 p.m. ET
What to Know Before Hiring a Financial Adviser Featuring Certified Financial Planners: @R_Alan_Moore, @KatieYRL, @WrenneFinancial, @Marybstorj and @Sophiabera
Join our #CreditChat every Wednesday at 3 p.m. ET. This week, we talked about steps to take before hiring a financial planner.“
Check Out All the Tweets and Resources:
ex.pn/adviser
Wednesdays | 3 p.m. ET
Why have many people never seen a financial adviser?
#CreditChat
Many people never see financial advisers because of lack of awareness, cost, or apathy toward financial matters.
Tweet by @GraceKvantas
#CreditChat
Tweet by @Sophiabera
to work with a financial planner.Many people don’t think they have enough money
#CreditChat
Working with an advisor also means being ready for change and exposing bad habits, which can be a tough pill to swallow.
Tweet by @Marybstorj
#CreditChat
Wednesdays | 3 p.m. ET
Why is seeing a financial counselor helpful? When is a good time?
#CreditChat
While most people wait until there’s a problem, you can really go at any time. In fact, it’s better to go BEFORE trouble.
Tweet by @LeslieHTayneEsq
#CreditChat
People don’t plan to fail, they fail to plan! A planner will help you get it done. Tweet by @WrenneFinancial
#CreditChat
Any time is good to meet with a planner -- Facing life transitions, tackling debt, figuring out employee benefits, goal planning.
Tweet by @Marybstorj
#CreditChat
Wednesdays | 3 p.m. ET
What types of qualifications and experience should an adviser have?
#CreditChat
Look for a financial adviser who is a certified financial planner (CFP). They’re licensed and regulated, plus take mandatory classes on
different aspects of financial planning. Source: The Wall Street Journal
#CreditChat
Look for an advisor who specializes in clients like you. Tweet by @ErikOKlumpp
#CreditChat
Wednesdays | 3 p.m. ET
What types of financial advisers should you avoid? Any warning signs?
#CreditChat
If you feel like you’re being pushed, sold or talked down to,run away and find a better advisor. Tweet by @KatieYRL
#CreditChat
Avoid any advisor who does not have a clear, transparent fee structure and who will not work as your fiduciary.
Tweet by @XYPlanning
#CreditChat
Wednesdays | 3 p.m. ET
What services do financial planners offer?
#CreditChat
Organization - Accountability - Objectivity - Proactivity - Education - Partnership
Tweet by @WrenneFinancial
#CreditChat
Budgeting help, debt repayment plans, maximizing companybenefits, choosing 401(k) investments, goal setting and more! Tweet by @Sophiabera
#CreditChat
Wednesdays | 3 p.m. ET
How are financial advisers compensated for providing services?
#CreditChat
Good financial advisors should only get paid by you (the client) directly through fees. We call that being fee-only.
Tweet by @R_Alan_Moore
#CreditChat
Know the difference between “fee-only” and “fee-based”. Fee-onlyis paid by YOU. Fee-based can also receive outside commissions.
Tweet by @ErikOKlumpp
#CreditChat
Wednesdays | 3 p.m. ET
How can you make sure a financial planner is a fiduciary?
#CreditChat
Questions to ask your financial adviser:
- Are you acting under fiduciary standard?- Can you put that in writing?
Source: Bankrate
#CreditChat
Ask a planner to sign a fiduciary oath. All #XYNP
Tweet by @XYPlanning
advisors have taken an oath.
#CreditChat
Wednesdays | 3 p.m. ET
How often does a person need to see a financial adviser?
#CreditChat
This usually depends on the person, but I think quarterly or semi-annually is sufficient. Tweet by @LeslieHTayneEsq
#CreditChat
Wednesdays | 3 p.m. ET
Any final tips on how to find a great financial planner?
#CreditChat
Interview a few different people. There are many great planners out there, but it often comes down to a personality fit.
Tweet by @Sophiabera
#CreditChat
Working with a Financial Planner is a relationship. Approach the search like you would a partner.
Tweet by @ErikOKlumpp
#CreditChat
#CreditChatWednesdays | 3 p.m. ET
Check out all the resources and tips shared:
ex.pn/adviser
#CreditChatWednesdays | 3 p.m. ET
Join Us Every Wednesday at 3 p.m. ET.
bit.ly/join-creditchat
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