If you’ve never met with a financial planner, you may miss out on efficient tax strategies and help with investment planning. While no one can guarantee that you’ll have a certain amount of money saved up when you reach retirement age, an experienced CERTIFIED FINANCIAL PLANNERTM professional in Minneapolis, MN, will help you with developing and reaching your financial goals. The earlier you begin to plan for your financial future, the more likely you may be to meet your goals.
What They Can Do for You
A CERTIFIED FINANCIAL PLANNERTM professional in Minneapolis, MN, can help you establish a formal investment policy, assist with asset allocation recommendations, and investment selection and monitoring. A financial planner can also help you increase your tax efficiency, help with retirement planning, optimize IRA distribution planning, and assist with estate planning.
What to Look for in a Financial Planner
Look for fee-only advisors who are fiduciaries. Fee-only advisors do not work on commissions from the sale of products but are compensated only by client fees. Other financial professionals who may call themselves “advisors” may really be stock-brokers or salespeople. They may try to sell you financial products, which is a conflict of interest. Fee-only advisors do not have this conflict of interest.
Ask your CERTIFIED FINANCIAL PLANNERTM professional in Minneapolis, MN, if they are willing to sign a fiduciary oath. A fiduciary is obligated by law to operate under a fiduciary standard of loyalty, trust and disclosure. They place the interests of their client ahead of their own interests. In addition, fiduciaries must disclose any known conflicts of interest.
