A financial planner is certified in developing and implementing a customized financial plan for you. Generally a financial planner works with you on a regular basis to help you build your portfolio. Certified financial planners are required to take a five part course, pass a ten hour exam, and complete fifteen additional hours of additional training a year to become certified. You will find many financial planners have security licenses, which allow them to sell you financial products that they recommend.
Over time you will find that you may not require the services of a professional financial planner on a regular basis. A visit with your accountant every now and then may be enough to help manage your debt since financial planning isn't hard to do. There are some circumstances when a financial planner may be right for you:
1. You earn good money, but you seem not able to save anything on a regular basis or you don't even know where all your money goes every month.
2. You have tough financial questions that you feel you can't find the answers to and need some expert advice. A good example would be your company is downsizing and you want to know what you should do about your 401K. You can get advice from a financial planner.
3. You have a savings and retirement plan in place that is just sitting there and it is making money without you doing anything. Should you leave it alone or start playing a more active role in managing your finances with the assistance of a financial planner?
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