By Ryan Pauline

Learning how to invest and grow your money is one of the wisest moves a practical, hard working individual should do. Doing this can help you ensure that you can get more out of your hard earned money, as you’re doing your best to work hard and wisely. To do this, though, you may need to look for a specialist to aid you in how to handle your finances correctly. Fee based financial planners are some of the best professionals to go to.

What are Fee-based Financial Planners?

Unlike regular and fee-only financial advisors, fee based planners offer a wide array of options for you. They can give you counsel about what to do with your money to make it grow, what products should you invest on to make the decision making easier, and they can also help you with other financial matters like which insurance to get or how to manage your taxes efficiently.

Since these folks are ‘planners’ and not just advisors, you can expect to get more out of their services. Instead of just giving you instructions, they will guide you in making a concrete program that you can follow to spend your money correctly and make wise investments.

Hiring Financial Professionals

When hiring financial professionals, you have to make sure that they will hold your interests in the highest regard possible. This is the main point why you seek their services in the first place.

However, with the 200,000 people claiming to be ‘professional advisors’ in the field, only around 60,000 of them are registered and licensed. This is why you need to choose wisely when looking for fee based financial planners, because you wouldn’t want to pay for someone who is not legitimate.

The best technique that you can do to find the right expert for the job is to talk to a couple of professionals. Check out their credentials first. Once you’ve found three or four from your thorough search, set up an appointment, so you can talk to them before you sign up for their services.

In this ‘interview’, make sure to ask the following questions:

1. What services are you offering? Since you’ll be working with a fee based professional, you need to know whether they’re selling something. This way, you can assess whether they could give you the best, honest advice that you will need.

2. How do you work? Again, because you’re looking for a ‘planner’, you need to know their basic methods in assisting you. Are they just going to give you recommendations or will they introduce other professionals in the mix in order to implement the suggestions properly? You have to make sure that their approach will match your goals.

3. What are the payment methods available and how much would their services cost? Some fee based financial planners will not charge you anything, but will instead earn through commissions from their sales. Others, however, will charge hourly fees, monthly retainers, or take a specific percentage from the assets that they are managing. Look closely into these, so you can better assess which deal is the most ideal for you.

These three are just the most basic questions that you should ask the potential fee based financial planners. Further research will help you learn more on how to execute such transactions efficiently.

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