A lot of people struggle when it comes to managing finances. Whether they are handling their personal money or managing a business, all of the steps and processes involved can be too tedious and complex for many. When this is the case, they need a professional who is well-versed in financial planning, particularly a financial planner.

What is a financial planner? How can they help you?

The duties and responsibilities of a financial planner

If you hire a financial planner, you can rely on them to:

Identify your needs – Your financial planner will work with you to determine what your needs are so that a personalized or customized financial plan can be created.

Help you set goals – Having goals can help you make the right decisions for your future. A financial planner can help you determine what goals you should strive for.

Create and execute strategies to achieve goals – Every financial decision that you make has to be a product of careful and thorough assessment, analysis, and examination. With a financial planner, you have an expert who is capable of doing all of that.

How do you find the right financial planner for you?

The internet is a great place to start your search for a financial planner. For example, if you are in Chicago, you can simply look up “certified financial planner Chicago” or “financial planning Chicago” to get relevant listings.

Then, educate yourself on the different types of financial advisors and the kinds of services they offer. Certified financial planners are professionals who have received the highest level of certification in financial planning after meeting the education, experience, and training requirements set by the governing board. Investment advisors are financial planners who are well-versed in securities and provide advice on stocks, mutual funds, bonds, and other investment-related matters. Personal financial specialists are typically Certified Public Accountants who have branched out into financial planning. Other types that you may encounter are asset managers, financial consultants, wealth advisors, and brokers.

Your next move is to consider your budget. Before hiring anyone, you should take into consideration your budget allocation for a financial planner. These professionals are paid in different ways. Some make money by charging a fee based on a percentage of the clients’ assets under their management while others charge an hourly rate. Others earn money by commissions. There are also those that work on staff and get a salary from the company that employs them.

Finally, you have to check their background and credentials. The results that your “certified financial planner Chicago” or “financial planning Chicago” search gives you must be looked into. To ensure that you will only hire a legitimate, reliable, and trustworthy financial planner, you should find out about their education, work history, experience, and credentials. Check out their websites, social media profiles, and other online accounts. Read reviews, comments, and feedback from their past clients, too. If there is someone that stands out, get in touch with them so that you can speak to them directly and get more information about their services.