Whether you are looking to buy a new home soon, invest in real estate or have quite a few assets and want to be able to manage them efficiently, you could definitely benefit from hiring a financial planner. You could accomplish even difficult financial plans and grow your money while also saving up a lot of your time to spend in more pleasurable activities other than wrapping your head around complex calculations. But the question is, how do you find the top financial advisor in San Diego? Here are a few steps recommended to take as well as some sane advice regarding hiring a financial expert to help you out.
What is a financial planner?
A financial planner is an expert who has a strong knowledge of economics, specific markets such as real estate or retirement funds and a complete mastery over financial matters. However, don’t confuse them with stock brokers as the latter are only good when you’re planning to exchange stocks. They also aren’t bookkeepers who can save you pennies on your annual taxes and neither are they insurance agents who would try to lure you into buying one of those expensive life insurance policies.
Do you need one?
While it is perfectly plausible to manage your own assets, accounts or investments, you might not want to do so. You might also play the car mechanic and fix your car, but depending on how skilled you are, it might be a good idea or the worst-ever. Mastering finances or car repairs can take a lot of time and commitment, and you would be much better off paying an expert who already knows the ins and outs of the trade rather than start as a rookie and fail miserably. Just as in other trades, most financial planners only specialize in a narrow field, such as real estate, retirement and other matters.
Things to look for and things to avoid
While anyone can just hang a sign with the financial planner attribute followed by a string of meaningless letters that does not make them experts. Also look for signs with the CPF initialswhich stand for Certified financial planners. These have undertaken a rigorous examination by the Certified Financial Planner Board of Standards. You would want to avoid planners who get paid from a commission since they might be biased into steering you towards deals that make them more money. Also be wary of brags promising better results than the average, as no one can guarantee that, plus they might take risks you would never take.
Check the background and look for credentials
Just as you would normally do with any other expert or worker you’d hire to take care of your home or car, you want to check the background and history of the financial planner you want to hire. You can check one from the National Association of Personal Financial Advisors, or check a planner through the BBB (Better Business Bureau). With Google at your disposal, it is also easy to check for credentials or reviews about the planner.
So how do you find the top financial advisor in San Diego? Take your time, do some research and speak to more financial planners and you will eventually find the right planner for your needs.