Financial Advisor Designation

Financial advisor designation refers to those professional financial advisors who specialize in a certain realm of finance planning, be it retirement planning, or other realms. There are many benefits to hiring a planner who has chosen a designation and there are also many ways to locate these types of planners in your area. Here are a few tips on finding these professionals as well as the main benefits to choosing these options to help you on the road to wealth.

Benefits of Designation

There are many benefits to doing a financial advisor check and choosing a specialist who has chosen a specific financial advisor designation. The first main benefit is that the professional you choose will spend all of their time assisting their clients with a certain realm of finance planning. Therefore, they will have a great deal of knowledge on the topic to help you successfully achieve financial goals.

For example, if one money related goal you have is to plan for retirement, then you could seek the advice of an advisor with a designation in retirement planning. This expert will have all of the tools to help you with each aspect of the retirement planning process so you can be sure you will have enough money saved up to retire at an early age. The first retirement account decision the professional with a retirement financial advisor designation will likely help you make is choosing the account option that is best for you. If you aren't familiar with the various types of accounts, you should ask the planner to describe them so you can make an informed decision.

The top types of retirement accounts are the 401k plan, Roth IRA and traditional IRA. If you work for an employer, you are likely familiar with 401k plans and may even be contributing to one. However, the financial advisor designation specialist will likely suggest that you also open a type of IRA because they understand how this step can help you have much more money for the post working years.

Another benefit to choosing a professional with a financial advisor designation in retirement is the expert will know the basics of asset allocation for your funds and can assist you in selecting a proper allocation based on age, income, risk tolerance and other factors. The asset allocation you choose will largely impact how much money you will retire with so you want to ensure it is accurate. Additionally, the asset allocation you choose now will not be the same designation you will need 10 years from now and an expert with financial advisor designation in nest egg accounts can ensure the allocation is revised throughout your lifetime to match your changing life circumstances.

If you have shorter term goals such as buying a home, planning for parenthood, or building a college education fund, you may want to utilize a professional with financial advisor designation in investments. This type of professional will be familiar with a variety of investment options and can help you select the appropriate type based on your unique needs. For example, since buying a home is a shorter term goal than planning for retirement, you likely won't want to select risky investments because the money won't have as much time to recover from a tough economic spell. A professional with a designation in investing will know which account types are best for these shorter term goals. Additionally, you can work with the financial expert to ensure your savings goal is enough to cover all of the costs associated with your short term goals

Finding an Advisor

If you have decided you want to hire a professional with a specific local financial advisor designation, the best way to proceed is searching online for professionals near you. An online search can quickly provide a wealth of information including those financial planners with a specific designation, how much experience each option has, and whether they are fee based or paid on commission.

Before selecting an investment advisor, you will need to decide if you want to hire one that is paid on commission or one that is fee based. When an advisor is paid on commission, this typically means they are paid by recommending that you invest in certain things. A fee based advisor typically charges fees for their services, creating direct out of pocket costs for you. Each of these options has benefits so the one you choose should be based on your personal preferences.

Hopefully by selecting a professional that has financial advisor designation in a specific realm, you will receive the advice you need to achieve your financial goals. You will want to meet with the advisor again throughout the years to check in on how the original goals are progressing as well as to discuss any new financial goals you create.

Find a Financial Advisor

Find an Advisor

Financial Advice

We can help you find a financial advisor

Our specialists will conduct a custom search to find local planners and advisors who meet your specific requirements.

"Finance and investing are complicated subjects that I didn't know a whole lot about before I started using this site. Thanks to this site I was able to meet with an advisor who was incredibly helpful. Thank you!"

Marcus N, New York NY