By Tod Shoffler, CFP®, Wealth Advisor, Crest Wealth Management
Most people think all financial planners are “certified,” but this is not always the case. Many can use the title “Financial Planner,” but only some have fulfilled the education, experience and training requirements of the Certified Financial Planner Board and can display the CFP® trademark. Choosing a CFP® professional ensures that you are working with someone who has a high level of competency, ethics and professionalism. And because they are held to a fiduciary standard of care when providing financial planning services, a CFP® professional is required to act in your best interest.
Check the news on any given day, and you’ll probably find stories of financial fraud affecting people everywhere, regardless of their age or wealth. The good news is that you can potentially protect yourself from financial fraud. Choosing to work with an advisor who holds the CFP® certification can provide confidence that your financial planner is both competent and ethical.
Once you have chosen your CFP® professional, coming up with a solid financial plan means doing some homework. From examining your current situation, to setting goals, to deciding how to measure your progress, a CFP® professional is qualified to take you through the financial planning process.
In six steps, you and your CFP® professional will:
1. Agree on how to work together by explaining the services to be provided and defining your responsibilities.
2. Gather information about your finances and set goals by reviewing your current financial situation, gathering documents and discussing your goals and objectives.
3. Analyze and strategize by taking all of your finances into account, including assets, liabilities, investments, insurance and tax strategies, to determine how to meet your goals.
4. Develop recommendations and revise as necessary.
5. Put a plan in motion that you are both in agreement on.
6. Monitor your progress with regular reviews and adjust as necessary to ensure that you stay on track.
For more information on the benefits of working with a CFP® professional, call Tod Shoffler, CFP®, Wealth Advisor with Crest Wealth Management at (609) 522-6098 or email tod.shoffler@lpl.com. With over 20 years of financial planning experience, Tod can put you on the path toward financial freedom.
*Securities and advisory services offered through LPL Financial, a Registered Investment Advisor, Member FINRA/SIPC. Insurance products offered through LPL Financial or its licensed affiliates.
Not FDIC Insured; Not Bank Guaranteed; May Lose Value; Not Insured by any Federal Government Agency; Not a Bank Deposit.
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