How to Find a Good Financial Planner to Make You Money

Finding a good financial planner is not an easy task. Although there are plenty of financial planners out there, not all of them are good and will make you money. A financial planner is hired by you to ultimately make you money and give you peace of mind. So, how do you find that perfect financial planner that won't take advantage of you and will have your best interest at hand. Here are the best two ways to find a good financial planner.

A Personal Referral

A personal referral from someone that you trust is the best way to find a good financial planner that will make you money. The thing that you have to realize though is that everyone's situation is different and everyone's personalities are different. Just because one person got along great with the financial planner doesn't necessarily mean that you will too. But, it gives a greater chance of success with the financial planner when you know that they have satisfied customers.

Even after you receive a personal referral for a financial planner you must still do your homework on them. Make sure to ask them plenty of questions and explain what your ultimate goal with your finances. A good financial planner has to be on the same page as you for you to make money. Also, the person that gave you the personal referral may not exactly know what they are talking about when it comes to finances, so they may think that this person is great when they may only be okay and you can find a better one.

Associations

There are a couple of different associations that will be more than happy to refer you to a financial planner in our area. One of those associations is The National Association of Personal Financial Advisors (NAPFA). The good thing about NAPFA is that they only are comprised of fee-only planners, which means that you don't have to worry about the planners trying to push their products on you to earn commissions. The down side to this association is that most of the financial planners earn their money by providing money management services and by charging a fee that is a percentage of the assets that they are managing. So, the more money you let them handle, the bigger the fee.

Another association that can be used to find a good financial planner is The American Institute of Certified Public Accountants. (AICPA). This association can provide you with names of CPAs that have completed the Institute's Financial Specialist program. The advantage of hiring a CPA to manage your money and make money is that they understand the tax laws and consequences of the different choices that you have. The down side of a CPA as a financial planner is that they may not know all the current and inside information for making money since they may be consumed with taxes and the accountant side of their job.

Even if you don' t use the above ways to find a good financial planner, you want to make sure that you research any person before you sign a contract with them and hand over your money.