What is a Financial Planner?
A financial planner is a professional that helps people manage various aspects of their finances. They will usually draft a financial plan for their clients to follow with the goal of increasing the client’s financial security now and in the future.
Services Offered by Georgia Financial Planners
The services provided by financial planners in Georgia are quite broad. Basically any situation that could possibly affect your finances can be managed by a financial planner. Financial planner’s expertise includes:
- Estate planning
- Taxes
- Savings
- Investments
- Insurance
- Retirement planning
Some GA financial planners will work with you to build a comprehensive plan that includes all of the elements listed above while others focus on just one financial area. Look out for people who call themselves financial planners but offer only a few products that they are likely making commissions off of.
Before Hiring a Financial Planner in Georgia
There are a number of points to consider before you hire a financial planner in Georgia. Because financial planners offer such a range of services it’s important that you understand exactly what it is that your financial planner can offer. It’s equally important that you know what it is you need from a financial planner to make certain they have the expertise you’re looking for.
Another factor to consider is how the financial planner will be paid. Some financial planners charge a flat fee while others charge per hour. It’s also possible for a financial planner to work off of commissions or a mix of fees and commissions.
Before you hire a financial planner you must be fully aware of how the financial planner will be compensated.
The Importance of Finding a Certified Financial Planner in Georgia
You’ll want to make sure that your financial planner is certified to make certain they are knowledgeable and meet ethical standards that were set by official organizations.
There are several certifications for Georgia financial planners. However, the Certified Financial Planner (CFP) certification provided by Certified Financial Planner Board of Standards, Inc. is well known in the industry. There are numerous of designations that FINRA has outlined in their handbook ‘Understanding Investment Professional Designations’.
Before hiring a financial professional, ask about their certifications and then check with each organization to make certain they in fact earned the certification and that they are still in good standing. You may also want to see what the experience and education requirements are for receiving the certification.
If a financial planner offers suggestions about investments then they should be registered with the SEC and/or the Georgia securities regulator.