Many people are dealing with financial issues for different reasons and seeking advice from companies like first command financial planning. Companies are lying off employees and the unemployment rate is rising. This has led to people wanting to plan for their future and to prepare in advance for retirement.
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Some people are not experience with financial planning and need help with planning for retirement. The goal is to live comfortable. Many people turn to a family member or friend for Finance information. However, loved ones are not the best options for Money Management because there are so many different financial products and they can be complex.
Blogs and new shows are popular ways to learn financial planning. The information usually received from these sources is generic and intended for the masses. Blogs and financial shows are helpful when looking for general information. If you are looking for information related to your individual situation, then you need to talk to a financial adviser.
It is important to not get a financial adviser mixed up with a certified public accountant. Financial advisers and CPAs do two completely different jobs. CPAs are good for completing your taxes and tend to focus on ways to decrease your tax burden. Advisers can look at your situation and develop a plan to help with accomplishing your financial goals.
Working with a professional allows for focusing on other things like getting a job promotion instead of handling investments. It is important to find an adviser that looks at the complete picture. You do not want to work with someone that just gives advice on investments. A good adviser looks at your entire financial history in order to give sound advice. If not, the he is giving one-sided advice that may not help you with completing your goals.
It helps to work with someone that is reliable and responsible. There has to be a fiduciary responsibility between client and adviser. Fiduciary duty consists of someone who is in charge of managing a client’s property and money. It is important that the client feels the information that he is receiving is in his best interest instead of the adviser just trying to make a sale.
Problems occur when an adviser is pushed by his company to make a sale on a certain security. The security is usually not much value to the client. Advisers take the risk to make quick cash from selling the security. For this reason, trust is an important factor between an adviser and his client. The client must feel comfortable with the decisions being made and that the decisions will improve their finances.
It is important to ask about credentials and the right questions when looking for someone to handle your money. Everyone does not have the same philosophy on finances. It helps to make sure the person matches your interests. You have to also provide the necessary information for improving financial history. If you want to change your future for the better, then it helps to talk to someone at first command financial planning.
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