Financial Planner

What is a 'Financial Planner'

A financial planner is a qualified investment professional who helps individuals and corporations meet their long-term financial objectives by analyzing the client's status and setting a program to achieve that client's goals. Financial planners specialize in tax planning, asset allocation, risk management, retirement and/or estate planning.

Also referred to as a "Registered Financial Planner," when the financial planner is registered with the Registered Financial Planner Institute (RFPI).

BREAKING DOWN 'Financial Planner'

Interview at least three financial planners before choosing the one that's right for you. Be sure to get the answers to the following questions:

1. What are your credentials?
2. Can you give me references?
3. What do you charge?
4. What is your area of expertise?
5. Will you act as my fiduciary?
6. What services can I expect?
7. How will we settle disputes?

The Certified Financial Planner (CFP) Board of Standards certifies financial planners. To check the status of a certified financial planner and for a guide to choosing the right person for you, visit the CFP Board of Standards website. Also, there are several associations to help you find a member in your area, including the Financial Planning Association (FPA) and the National Association of Financial Advisers (NAPFA).

RELATED TERMS
  1. Retirement Planner

    A practicing professional who helps individuals prepare a retirement ...
  2. Financial Planning Association

    A U.S.-based professional organization formed in the year 20 ...
  3. Certified Financial Planner - CFP

    The CFP legal team has provided its official definition, along ...
  4. Paraplanning

    A relatively new position within the financial planning industry ...
  5. National Association Of Estate ...

    A nationwide coalition of estate planners and estate planning ...
  6. Board Certified In Estate Planning ...

    A certification offered by the Institute of Business & Finance ...
Related Articles
  1. Budgeting

    How To Choose An Affordable Financial Planner

    Choosing a financial planner is a decision that shouldn't be taken lightly. In fact, this decision is just as important as choosing a lawyer or a doctor.
  2. Executive Compensation

    Financial Planner: Job Description & Average Salary

    Discover the general job duties and average salary of a financial planner, as well as the education, training and skills necessary for success.
  3. Insurance

    Advice For Finding The Best Advisor

    There are several areas you should research when making this important decision.
  4. Personal Finance

    Comparing Financial Advisors & Financial Planners

    When scanning the financial advisor landscape, recognize that both financial advisor and financial planner are very broad categories.
  5. Retirement

    Financial Planners: Specialize In Seniors

    Find out how this demographic has all the needs to keep your firm busy year-round.
  6. Career Education & Resources

    Financial Planner: Career Path & Qualifications

    Learn what education and certifications you need to become a financial planner, as well as the future prospects and earnings potential for financial planners.
  7. Retirement

    Financial Planners: Practice What You Preach

    "Do as I say and not as I do" doesn't make for a great professional reputation.
  8. Professionals

    Career Advice: Financial Planner Vs. Stockbroker

    Read an in-depth review of a career as a financial planner as opposed to a career as a stockbroker, including how to decide which is best for you.
  9. Professionals

    Ethical Issues For Financial Advisors

    Learn what to do when that devil on your shoulder begins to whisper.
  10. Professionals

    Career Advice: Accountant Vs. Financial Planner

    Identify the key differences between a career in accounting and financial planning, and learn how your personality dictates which is the better choice for you.
RELATED FAQS
  1. Where can I look for a financial planner?

    References from trusted friends or family members can help you find a financial planner; however, keep in mind that your ... Read Answer >>
  2. What's the difference between a financial advisor and a financial planner?

    Seeking professional advice from a financial advisor may involve asking for financial help from a certified financial planner, ... Read Answer >>
  3. What are the reasons that cause financial advisors to fail in their careers?

    Think about the risks with financial planning before you pursue a career in the industry, and make sure you aren't wasting ... Read Answer >>
  4. How do I become a financial advisor?

    Hi there, I am a senior accounting major at university. After college I would like to receive my CPA and CFA and work as ... Read Answer >>
  5. What are the differences between a Chartered Financial Analyst (CFA) and a Certified ...

  6. Which popular professional certification exams do not require sponsorship?

    The Financial Industry Regulatory Authority (FINRA) administers several professional certification examinations that do not ... Read Answer >>
Hot Definitions
  1. Quarter - Q1, Q2, Q3, Q4

    A three-month period on a financial calendar that acts as a basis for the reporting of earnings and the paying of dividends.
  2. Weighted Average Cost Of Capital - WACC

    Weighted average cost of capital (WACC) is a calculation of a firm's cost of capital in which each category of capital is ...
  3. Basis Point (BPS)

    A unit that is equal to 1/100th of 1%, and is used to denote the change in a financial instrument. The basis point is commonly ...
  4. Sharing Economy

    An economic model in which individuals are able to borrow or rent assets owned by someone else.
  5. Unlevered Beta

    A type of metric that compares the risk of an unlevered company to the risk of the market. The unlevered beta is the beta ...
  6. Treasury Inflation Protected Securities - TIPS

    A treasury security that is indexed to inflation in order to protect investors from the negative effects of inflation. TIPS ...
Trading Center