What is a Financial Planner?
A financial planner is a professional that can help people manage various aspects of their finances. They'll usually draft a financial plan for their customers to follow with the goal of improving the client’s financial security now and in the future.
Services Offered by Nevada Financial Planners
The services provided by financial planners in Nevada are quite broad. Basically whatever 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 NV financial planners will work with you to build a comprehensive plan that includes every one of the elements in the list above while others specialize in just one financial area. Be aware of people who call themselves financial planners but only offer a few products that they are likely making commissions off of.
Before Hiring a Financial Planner in Nevada
There are a number of things to consider before you hire a financial planner in Nevada. Because financial planners offer such a wide array of services it’s important that you understand just what it is that your financial planner can offer. It’s equally important that you know what it is you require 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 by the 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 conscious of how the financial planner will be compensated.
The Importance of Finding a Certified Financial Planner in Nevada
You’ll need to make sure that your financial planner is certified to make sure that they are knowledgeable and meet ethical standards that were set by official organizations.
There are several certifications for Nevada 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 a number of designations that FINRA has outlined in their handbook ‘Understanding Investment Professional Designations’.
Before employing a financial professional, ask about their certifications and then check with each organization to ensure they in fact earned the certification and they are still in good standing. You may also wish to see what the experience and education requirements are for receiving the certification.
If a financial planner offers advice on investments then they have to be registered with the SEC and/or the Nevada securities regulator.