How can I find financial advisor who will advise on all financial aspects of life,not just manage investments?
Question:
Answer:
Rich, you should avoid blanket statements.
Starting with CFP's is a good idea. you can use the Financial Planning Association's Planner Search feature on their website (www.fpa.net) to find a list of CFP's near you.
As far as annuities go, they have their uses. To assume that an annuity is wrong for you without knowing anything about you is not very objective.
Don't be afraid to ask hard questions when interviewing planners.
Questions to ask:
How do you get paid?
Who is your broker/dealer and how do you determine what financial products to use?(Some B/D's apply pressure to their representatives to sell proprietary products over others. You want to avoid this.)
How long have you been providing financial advice?
Do you have clients that would be willing to talk to me about your services? If not, why?
If the planner gets nervous or evasive about answering these questions, don't bother asking any more questions. A trusting relationship with a worthy financial planner is an incredibly valuable relationship.
First step is to look for someone who is a CFP - certified financial planner. Tell them you need a finanical plan. They should ask you a ton of questions. Everything from assets/liabilities to what your retirement goals are. If they try to sell you annuities, find a new advisor.
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