How to Choose a Financial Planner

• Tips

  • Look for a financial adviser who is a certified financial planner (CFP). They're licensed and regulated, plus take mandatory classes on different aspects of financial planning.
  • Consider the planner's pay structure. A planner who earns money based on commission rather than a flat, hourly rate could have an incentive to steer you in a particular direction.
  • Read the code of ethics that your financial planner adheres to. Look for the word "fiduciary" and language that requires planners to look after your best interests.