Factors to consider when hiring a financial planner


A financial planner advises clients on how best to save, invest, and increase their money. They help you handle big financial goals like buying a house or understanding the importance of different assets. Some financial planners specialize in real estate planning, while others specialize in offering consultant services in various financial matters. When looking for a financial planner to hire, ensure you hire the best.

Here are factors to consider when hiring a financial planner:

1.Other sources of information.

Most of the information that a financial planner gives is freely available for everyone on the internet. You must pay to get advice on managing your assets with a financial planner. Before you hire a financial planner, consider if you can get the information from other sources. However, most people are usually busy, and they need a financial planner to manage their assets. It’s a good thing to look for help when you need it.

2.Financial planner’s pay structure.

When looking for a financial planner, avoid the one that demands payment on commission. They are biased and have less selfless motivations to push a certain life insurance or mutual fund if they receive a percentage of the money. But also fee-based financial planners are not perfect. A planner earning 1 percent of your assets might be unwilling to encourage you to liquidate your assets or purchase a big house, even if those were the right moves at a particular point in your life because their earning would reduce.

If you are starting and do not have many assets, a financial planner who charges by an hour would be the best. They are best if you have simple financial needs. Hourly financial planners will handle your financial matters right.

3.Look for fiduciary.

The financial planner should pledge to act in your best interests at all times. Financial planners who are not fiduciaries are often held as low standard planners. They offer convenient services for you but not in your best interests. When looking for a financial planner, ensure you look for a fiduciary.


A financial planner should have good credentials. When interviewing them, consider finding out if they have the required skills to handle your money. You should hire someone who has professional qualifications. They should have certifications like certified financial planner (CFP).

5.Ask for recommendations from your trusted people.

When looking for a financial planner, you might consider asking for recommendations from people you trust and who seem to be managing their wealth in the right way. Looking at online reviews can deceive you as some firms pay people to fake positive reviews or from people with grudges. However, seeking personal recommendations, you are assured of hiring a good financial planner because they have worked with and know their services are good.

Bottom line.

Finding a serious financial planner capable of managing your investments is challenging. It will help if you look at serious considerations when hiring a financial planner, as you do not want to lose your money.

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