I recentlyreceived a fairly large inheritance. how do i find a competent financial advisor to help me?
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Answer:
Be very careful with whom you trust your money. Whenever you are hunting for a financial advisor you want to interview him like he was applying for a job. In a way, he is. Also, ask for his educational background, experience, and references. Also, a good financial advisor will typically hold either a CFP (Certified Financial Planner) or a CFA (Chartered Financial Analyst) designation. Depending on the amount you are getting you may want to talk with a private wealth management firm that will be able to consult with you on taxes, investments, and all other areas of wealth management (and retainment). Normally these types of firms have requirements that their clients have a minimum of at least 1 million in investable assets.
I don't know. But, I could hold onto that inheritance for you while you look.
Sluce was right. Look for a CFP.
http://www.fpanet.org/ has a find a planner directory that will help you find one close to you. Planners with a CFP designation must undergo a lengthy exam plus have a backround check and agree to follow an ethics policy.
They may refer you to a larger wealth management firm, but it would be best to start with a visit to a CFP.
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