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   Who can use the term 'Financial Planner'?
 
   Why should I choose a Financial Planner over another type of Financial Advisor?
 
   What is the best age to start Financial Planning?
 
   How are Financial Planners paid?
 
   Do I have to pay a Financial Planner for the first interview? How much does a Planner typically charge?
 
Question
Who can use the term 'Financial Planner'?
Answer
The government does not regulate Financial Planners as Financial Planners; instead, it regulates Planners as stock brokers, insurance agents or investment Advisors, depending on the services they provide. As a result anybody can try to proclaim himself or herself as a Financial Planner. The FPSB India can help you look for someone who is qualified to offer Financial Planning advice. Look up in the CFP Directory
Question
Why should I choose a Financial Planner over another type of Financial Advisor?
Answer
A Financial Planner will focus on your needs first before recommending a course of action. Most Planners have been trained to take a broad look at your financial situation, while based on their expertise accountants, investment Advisors, stockbrokers or others Advisors like insurance agents may focus on a particular area of your financial life. Always ask a Financial Advisor what qualifies him or her to offer Financial Planning services.
Question
What is the best age to start Financial Planning?
Answer
While it is true that the younger you start the more beneficial the process will be, Financial Planning is worthwhile at any age. Although younger people may have more decisions to make regarding their financial lives, changing laws and circumstances can lead middle-aged people and seniors to have to adjust their Financial Plans as well. Changes in tax laws, for example, may require many people to revisit certain investments or estate plans, and adequate disability Planning becomes more important as people age.
Question
How are Financial Planners paid?
Answer
There is currently no uniform method by which Financial Planners are paid. A Planner can be paid by a salary paid by the company for which the Planner works; by fees based on an hourly rate, a flat rate, or on a percentage of your assets and/or income; by commissions paid by a third party from the products sold to you to carry out the Financial Planning recommendations; or by a combination of fees and commissions whereby fees are charged for the amount of work done to develop Financial Planning recommendations and commissions are received from any product sold. Be sure to ask the Planner how he or she is paid.
Question
Do I have to pay a Financial Planner for the first interview? How much does a Planner typically charge?
Answer
Most Financial Planners will provide you with one free half-hour or hour meeting to talk about your reasons for wanting to work with them. During these initial interviews, the Planners will also decide if they can help you and explain how they would work with you. Like other professionals, the rates Financial Planners charges depend on their experience, geographic location, level of services and your needs. Interview more than one Planner to get an idea of the going rate for Financial Planning services.
 
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