Fee-Only Financial Planning
Dallas/Fort Worth, TX (ContentDesk) August 5, 2005 -- So you are looking for an objective financial planner or advisor?
You have read the articles and are convinced that you want to work with a financial professional that does not work for commissions but instead works for you.
While it may seem like a straightforward request, the vast array of financial terms can lure you to an advisor that on the surface appears to work for fees as opposed to commissions, but as you dig deeper you may find that this fee advisor may in fact work for both fees and commissions or simply just for commissions.The regulatory bodies that police the world of financial advisors have left great latitude as to what terms financial advisors use to describe themselves and their services.
As a result, a great number of consumers are finding that locating a true "fee-only" financial advisor is difficult.
In fact, over 600,000 individuals are licensed to sell financial products on a commission basis across the United States while only about 1,200 advisors actually belong to the nation's largest professional association of "fee-only" financial advisors (NAPFA).
So what are you to do?
The first step is to educate yourself with regard to the common titles that financial advisors use and which one actually indicates that you will be working with someone that does not work on commissions.Here's your first test, which of the following terms describes a professional that does not work for commissions: financial planner, financial advisor, fee-based advisor, fee advisor or fee-only advisor.
The answer: fee-only advisor.
While many of the titles have a connotation of working for fees, advisors with any of these titles except the "fee-only" title are allowed to and often do receive commissions for implementing their recommendations.
Only the "fee-only" advisor is prohibited from accepting compensation from third-parties.So how do you go about finding a true "fee-only" financial professional?
There are a number of individual firms such as Heritage Financial Planning (http://www.HeritageFinancialPlanning.com) in Texas that work on a true "fee-only" basis or you can search for financial advisors that are part of professional associations such as NAPFA (http://www.NAPFA.org) or the Garrett Planning Network (http://www.GarrettPlanningNetwork.com) to find a true "fee-only" professional in your area.About the Author:
Steve Blankenship, CFP?, a nationally recognized financial planner, is conveniently located in the heart of the DFW Metroplex. Located in historic Grapevine, Texas, Steve's firm, Heritage Financial Planning, offers fee-only financial planning to people from all walks of life.Steve has been named "One of the Best Financial Planners in Dallas/Fort Worth" by D Magazine and has been featured on the cover of Financial Planning Magazine. Steve has been sought out by local and national media on numerous occasions and has appeared in The Dallas Morning News, Fort Worth Star-Telegram, Kiplinger Personal Finance and BusinessWeek among others.
Steve has also served as a technical advisor for Money Magazine on multiple occasions. Steve was recently highlighted by Financial Planning Magazine as one of three financial advisors from across the country that represents the "Next Generation of Advisers." A graduate of Baylor University, Steve is among a small but growing number of advisers that actually earned a college degree in financial planning. Steve is a Member of The Garrett Planning Network, Inc., the nation's largest organization of hourly as-needed financial planners. He is also a member of NAPFA, the largest organization of professionals dedicated to championing fee-only financial planning. He can be reached at (817) 410-5725.
For more information, visit www.HeritageFinancialPlanning.com..
A Win-Win Strategy for Women Financial Advisors
(ContentDesk) March 16, 2004 -- The Women's Interfinancial Network (WIN) is dedicated to the support, development, and recruitment of women financial advisors. Member practitioners include investment management consultants, certified financial planners, registered investment advisors, registered representatives, certified public accountants, attorneys, and insurance representatives.The Mission of WIN is to champion and support women financial advisors in realizing their full potential. This core mission will be accomplished via a dynamic and diverse community of practice that inspires a standard of excellence through shared vision, shared learning, shared expertise, shared commitment, and shared passion for the profession.An example of professional services provided by WIN are:? Compliance and Legal Services Program that will provide a number of services, workshops, and assistance that will allow members to stay up-to-date on regulatory and legal development that impact the practice...
A Win-Win Strategy for Women Financial Advisors
Financial planning > A Win-Win Strategy for Women Financial Advisors
Why You Need a Durable Power of Attorney
Who will handle your financial affairs if you become incapacitated and cannot do so yourself? If you have a Durable Power of Attorney, the answer is whoever you selected. If you don't, the answer may be "whoever the court decides."If you are not married, without planning, no one likely will have any pre-existing ability to handle your financial affairs. If you are married, your spouse can probably take care of the basic bill paying and many other financial transactions (since these are in both names). But even then, items such as the sale of an investment or home that require both spouses' signatures or any assets that are in your name alone will be a problem. Banks, brokerage firms, title companies, etc.
will only deal with someone other than the owner if authorized by a court order or under Durable Power of Attorney. Obtaining authority from the court can be an expensive and on-going process, ending with someone other than who you would have wanted handling your money and financial...
Why You Need a Durable Power of Attorney
Financial planning > Why You Need a Durable Power of Attorney
David A. Katzman CPA/CFP? Of Goldstein Lewin & Co. Earns Personal Financial Specialist Credential
(ContentDesk) April 24, 2004--To obtain this credential, Mr. Katzman earned a passing grade on a financial planning examination, submitted references, and documented his business experience in personal financial planning, personal income tax planning, risk management planning, investment planning, and estate planning.
A Certified Public Accountant, Mr. Katzman is licensed to practice in the State of Florida and the Commonwealth of Massachusetts.
He received the CERTIFIED FINANCIAL PLANNER?
(CFP) credential in 1998.The rigorous course of study required to obtain the PFS designation provides me with the additional skills and knowledge necessary to provide my clients with comprehensive financial services," states Mr.
Katzman.
Mr. Katzman has extensive experience working with businesses to resolve auditing and tax issues and with high net-worth individuals to provide financial and trust planning advisory services.
As an eldercare practitioner,...
Financial planning > David A. Katzman CPA/CFP? Of Goldstein Lewin & Co. Earns Personal Financial Specialist Credential
Financial Industry Expert Steps Out From Under The ?UMBRELLA?.
Troy, MI (ContentDesk) October 27, 2004 -- Mary Ann Golin CFP?, CRPC, a leading Financial Expert & Advisor, breaks from Merrill Lynch to launch GOLIN CONSULTING, LLC, an Expert Witness and Financial Planning Services company headquartered in Troy, MI, offering its services throughout the United States.Since the beginning of her career in 1981, Golin boasts an unblemished CRD as a Financial Consultant and Branch Manager, and has served as an NASD Arbitrator since 1988 and Chairperson since 1996, is a member of the Financial Planning Association, and is a distinguished MENSA member."The ability to analyze the investment at issue, provide information as to the rules violated, and appropriately assess the damages is what both counsel and client look for in an Expert Witness." Says Golin.With extensive court experience and legal knowledge, Golin Consulting provides claimants and respondents with expert witness services during securities & investment litigation, arbitration and mediation with...
Financial Industry Expert Steps Out From Under The ?UMBRELLA?.
Financial planning > Financial Industry Expert Steps Out From Under The ?UMBRELLA?.
DANIEL F. YASHAREL, Named an Accredited Estate Planner
(ContentDesk) September 10, 2004 -- DANIEL F. YASHAREL, MSFS, CFP?, CLU?, ChFC?, SENIOR VICE PRESIDENT, The AFP GROUP is newly certified as an Accredited Estate Planner by the National Association of Estate Planners & Councils.
His office is at 11835 W. Olympic Boulevard, Suite 1150 East, Los Angeles, CA 90064.The Accredited Estate Planner (AEP) designation is a graduate level specialization in estate planning designation, obtained in addition to already recognized professional credentials within the various disciplines of estate planning.
The AEP designation is available to attorneys, Chartered Life Underwriters, Certified Public Accounts, Certified Financial Planners?, Chartered Financial Consultants and Certified Trust and Financial Advisors.
It is awarded by the National Association of Estate Planners and Councils (NAEPC) to recognize estate planning professionals who meet stringent requirements of experience, knowledge, education, and professional reputation...
DANIEL F. YASHAREL, Named an Accredited Estate Planner
Financial planning > DANIEL F. YASHAREL, Named an Accredited Estate Planner
David A. Katzman CPA/CFP? Of Goldstein Lewin & Co. Earns Personal Financial Specialist Credential
(ContentDesk) April 24, 2004--To obtain this credential, Mr. Katzman earned a passing grade on a financial planning examination, submitted references, and documented his business experience in personal financial planning, personal income tax planning, risk management planning, investment planning, and estate planning.
A Certified Public Accountant, Mr. Katzman is licensed to practice in the State of Florida and the Commonwealth of Massachusetts.
He received the CERTIFIED FINANCIAL PLANNER?
(CFP) credential in 1998.The rigorous course of study required to obtain the PFS designation provides me with the additional skills and knowledge necessary to provide my clients with comprehensive financial services," states Mr.
Katzman.
Mr. Katzman has extensive experience working with businesses to resolve auditing and tax issues and with high net-worth individuals to provide financial and trust planning advisory services.
As an eldercare practitioner,...
Financial planning > David A. Katzman CPA/CFP? Of Goldstein Lewin & Co. Earns Personal Financial Specialist Credential
Guagenti & Associates Purchase Joel Agency
Newark, NJ January 30, 2003 ? Guagenti & Associates LLC founded by Russell P. and Enza Guagenti CPA's, announce the purchase of Joel Agency accounting and tax practice. A fixture in the Ironbound section in Newark, NJ for the past 32 years, Joel has provided accounting and tax services and maintains a stellar reputation in the community. The team at Guagenti & Associates will build upon the relationships established over the years and plan to take the services offered to the next level with the addition of financial planning, mortgage and refinancing, business loans
and numerous other financial services.Russell and Enza bring to the table a wealth of financial experience gathered from years in the private and public sector. They offer business and personal tax planning and preparation, financial and business consulting, business start up, financial statement preparation and college and retirement planning.
With over 35 years of combined business, financial and...
Financial planning > Guagenti & Associates Purchase Joel Agency
Financial planning
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