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. Paraplanning

    A relatively new position within the financial planning industry ...
  4. Certified Financial Planner - CFP

    The CFP legal team has provided its official definition, along ...
  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. Financial Advisor

    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. Financial Advisor

    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. Financial Advisor

    Advice For Finding The Best Advisor

    There are several areas you should research when making this important decision.
  4. Financial Advisor

    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. Financial Advisor

    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. Financial Advisor

    Ethical Issues For Financial Advisors

    Financial advisors may face ethical issues in their work. Find out what they are.
  8. Retirement

    Financial Planners: Practice What You Preach

    "Do as I say and not as I do" doesn't make for a great professional reputation.
  9. Financial Advisor

    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.
  10. Financial Advisor

    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. Should I invest in the market given my personal debts?

    I recently have been promoted. I have about $30k in student loans and about $4k in personal debt. I have saved up about $3k ... Read Answer >>
  6. What are the differences between a Chartered Financial Analyst (CFA) and a Certified ...

Hot Definitions
  1. Duration

    A measure of the sensitivity of the price (the value of principal) of a fixed-income investment to a change in interest rates. ...
  2. Dove

    An economic policy advisor who promotes monetary policies that involve the maintenance of low interest rates, believing that ...
  3. Cyclical Stock

    An equity security whose price is affected by ups and downs in the overall economy. Cyclical stocks typically relate to companies ...
  4. Front Running

    The unethical practice of a broker trading an equity based on information from the analyst department before his or her clients ...
  5. After-Hours Trading - AHT

    Trading after regular trading hours on the major exchanges. The increasing popularity of electronic communication networks ...
  6. Omnibus Account

    An account between two futures merchants (brokers). It involves the transaction of individual accounts which are combined ...
Trading Center