When it comes to financial planning, you can decide to do it yourself with the assistance of books, magazines, web sites, software and self help groups, or you can seek out the advice and assistance of a seasoned financial planner.

To help find planners, you might want to start off by asking friends and family if they could recommend someone. A financial planner can be self employed or work for credit unions, banks, or companies that specialize in offering financial advice. Once you decide to use a financial planner there are several factors you should consider when choosing a planner.

1. Education and Training

   Ask the planner what qualifies him/her to offer financial planning advice and whether he/she holds a financial planning designation, such as CPA, Certified Financial Planner, Registered Financial Consultant, etc.

   Asked what type of financial investments are they licensed to sell? Look for a planner who has proven experience in financial planning topics such as insurance, tax planning, investments, estate planning, and retirement planning.

2. Compensation: How does the planner charge for their services and what is the cost?

   A planner could be paid a salary, by fees based on an hourly rate, flat rate, or by a percentage of assets.

3. Personality and Investment Philosophies

   Once you have “shopped around”, determine the qualities you need in order to make your investment goals happen. Do you need a drill sergeant or someone who will hold your hand? You need to find the right planner that you feel comfortable working with.

   There are many wonderful reputable planners out there. After finding that person and before you invest, it is worth checking with the various financial organizations and/or the Securities and Exchange Commission and the National Association of Securities Dealers in Washington DC to see if there had been any fraudulent actives. Also check with the local Better Business Bureau or consumer affairs organization. Remember, this is your money - you have worked for it and you need to protect it.