A plan for the future.QA My mother has never sat down with a financial planner Financial Planner A qualified investment professional who assists individuals and corporations meet their long-term financial objectives by analyzing the client's status and setting a program to achieve these goals. and has a very complicated history, including bankruptcy, real estate, tax and credit burdens, and other dependents whom she wants to prepare for the future. It pains me to think that she may make a wrong move. Where can she find a financial planner? --dhamchand@bloomberg.net It's extremely important that your mother gain the assistance of a financial planner. But you need to do your homework. Here's how to find the best planner: * Gather names. You can do this by contacting professional associations whose members are financial planners. For example, contact the Institute of Certified Financial Planners Certified Financial Planner (CFP) A person who has passed examinations accredited by the Certified Financial Planner Board of Standards, showing that the person is able to manage a client's banking, estate, insurance, investment, and tax affairs. (800-282-PLAN or www.icfp.org), the National Association of Personal Financial Advisors National Association of Personal Financial Advisors (or NAPFA) is an American organization created in 1983 to aid the field of Fee-Only financial planning by encouraging interest and establishing a new level of professional standards and reputation for excellence. (888-FEE-ONLY or www.napfa.com), or the International Association of Financial Planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against (800-9454-237 or www.iafp.org). These organizations will provide you with the names of planners in your state. * Pre-screen planners. Look for those with a proven track record and seek out those who offer a range of services, including budgeting, tax advice, and investment planning. * Meet you advisor in person. Meet with at least two planners to compare approaches to financial planning. Ask questions about the planner's experiences, services, and charges. * Make the selection. Once you receive the information you need, make your decision. Above all, make sure that your mother has a rapport The former name of device management software from Wyse Technology, San Jose, CA (www.wyse.com) that is designed to centrally control up to 100,000+ devices, including Wyse thin clients (see Winterm), Palm, PocketPC and other mobile devices. with the planner. He or she should be someone your mother can trust with her financial life. Mail your finance questions to Ask B.E., BLACK ENTERPRISE, 130 Fifth Ave., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY 10011, or send an e-mail to dingled@blackenterprise.com. |
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