What is a Financial Planner?
A financial planner is a professional that can help people manage various aspects of their finances. They will usually draft a financial plan for their customers to follow with the goal of increasing the client’s financial security now and in the future.
Services Offered by New Hampshire Financial Planners
The services provided by financial planners in New Hampshire are quite broad. Basically anything 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 NH financial planners will work with you to put together a comprehensive plan that includes all the elements in the list above while others focus on just one financial area. Look out for people who call themselves financial planners but just offer a few products that they are likely making commissions off of.
Before Hiring a Financial Planner in New Hampshire
There are several things to consider before you hire a financial planner in New Hampshire. Because financial planners offer such a range of services it’s essential that you understand just what it is that your financial planner can offer. It’s equally important you are aware of what it is you require from a financial planner to make sure 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 set amount while others charge per hour. It’s also possible for a financial planner to work off of commissions or a mixture 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 New Hampshire
You’ll want to make sure that your financial planner is certified to make sure that they are knowledgeable and meet ethical standards that have been set by official organizations.
There are many certifications for New Hampshire financial planners. However, the Certified Financial Planner (CFP) certification supplied by Certified Financial Planner Board of Standards, Inc. is well known in the profession. There are a variety 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 that 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 information on investments then they have to be registered with the SEC and/or the New Hampshire securities regulator.