What to Consider When Choosing a Financial Planner


  • What is a CFP®
    • Financial Advisor versus a Certified Financial Planner 
      • CFP® professionals have met rigorous qualifications for financial planning. Only those who have fulfilled CFP Board’s rigorous requirements can call themselves a CFP® professionals.
  • CFP® designation 
    • As part of their certification, CFP® professionals commit to high ethical standards. What’s more, a CFP® professional must acquire several years of experience related to delivering financial planning services to clients and pass the comprehensive CFP® Certification Exam before they can call themselves a CFP® professional.
  • How to choose a Financial Advisor or CFP
    • Consider what your financial needs are
      • Do you need an estate plan? Business exit strategy? Tax planning? Investment advisor? If you’re looking for someone to provide holistic financial advice, then a CFP is going to be the best fit for you.
    • There are a few helpful questions you should ask when interviewing potential Financial Advisors or CFP. 
      • Do you ask to see my tax returns?
        • Only 3% of financial planners ask for a tax return-need to understand how the individual is reporting to the government to create a Bonafide financial plan
      • How do you get paid? 
        • Assets under management
        • Hourly fee
        • Flat annual fee
        • Per-plan fee
        • commissions
      • Are you a fiduciary?
        • A fiduciary is an individual who acts in the best interest of a particular person or beneficiary. … Working with a fiduciary financial advisor means that they have your best financial interests at heart. Please note that not all advisors are fiduciaries
        • Blue Rock is! A CFP® professional is committed to the CFP Board to act as a fiduciary at all times when providing financial advice to clients.
      • What is your approach to financial planning? 
        • Do they create a comprehensive financial plan? Do they prefer to implement all recommendations on your behalf or are they not as hands-on?
      • What type of clients do they typically work with?
        • Some CFP prefers to work with clients whose assets are within a specified range.
      • How many advisors will be involved?
        • This will help you not only put a face to the name(s) working on your financial plan but understand who will be directly involved.