What to Look for in Hiring a Certified Financial Planner™

People often question whether hiring a financial planner is worth the money. Studies by Vanguard and Russell Investments and a recent article in AARP The Magazine say yes! For example, in AARP The Magazine in the October/November 2018 print edition, AARP provided guidance on selecting a financial planner even if you are not wealthy.

AARP The Magazine, Oct/Nov 2018, pg. 24 (print edition). All represented data provided by AARP and not by Engage Advising.

AARP The Magazine, Oct/Nov 2018, pg. 24 (print edition). All represented data provided by AARP and not by Engage Advising.

AARP The Magazine also included a handy graph reflecting the potential extra money earned by those who hire a comprehensive planner. Please note this is AARP The Magazine’s sidebar and data and not that of Engage Advising. For example, on page 24 of the October/November 2018 print edition, AARP claims working with a financial planner could possibly in the instance of a medium income individual increase overall net worth by $83,000 (see graphic).

So, what should you look for in hiring a comprehensive financial planner? Start with asking for recommendations. Your friend’s financial planner may not be a good fit for you, but that adviser may know someone who is a great fit. You can also search in your area by zip code and/or specialty on sites like NAPFA and XY Planning Network.

Check qualifications. The CFP® mark stands for Certified Financial Planner™ and is considered the gold standard for financial planners. You can visit letsmakeaplan.org to learn more about the designation and to look for a financial planner in your area that is in good standing.

Be sure to question your potential financial planner about fees and compensation. You have a right to know what you are paying, when you are paying, and what you will receive for your fees paid. Today, there are many billing structures offered to meet the needs of clients. Some financial planners are fee-only, others will work with you on an hourly basis, and some will setup a monthly plan. There could also be combinations of these fee arrangements depending on your personal circumstances and needs.


You don’t have to go it alone for financial advice. As an independent Certified Financial Planner™, I can help you decide how to plan for your goals, investments, or retirement, or how to start enjoying your retirement savings. No matter where you are in life, a CFP® professional can help you create an action plan for today and tomorrow. Contact me and let’s get started! #talktometuesday #education #Hireaplanner #retirement #income #drawdown #IRA #401k #CFPPro #LetsMakeAPlan #AARP #AARPTheMagazine #DIY