How to find a financial planner

Make sure the person you trust with your money knows what he or she is doing.

Step 1: Find someone certified
Find a certified financial planner by contacting the Certified Financial Planner Board of Standards (cfp.net).

Step 2: Get someone who specializes
Focus your search on planners who specialize in clients like you. If you’re a young person plotting your financial future, you don’t want a broker who mainly manages retirees’ money.

Step 3: Avoid novices
Make sure the candidates have at least five years experience.

Step 4: Check them out
Check out your potential planners by contacting the Financial Industry Regulatory Authority (finra.org). By searching their name, you can see if previous clients ever registered a complaint about them. You can also verify their credentials through your state’s Department of Securities.

Step 5: Set up interviews
Narrow your choices to a few planners and call for an appointment; most will meet with you for a free 30-minute introductory session.

Step 6: Investigate fees
Before meeting, find out how they bill. “Fee-only” planners charge a rate for their services, so there’s no incentive for them to sell you more than you need. Other planners collect commissions based on what they sell you, so you only pay for the advice you act on. Avoid “fee-based” planners, who charge a fee and take commissions.

Step 7: Ask about access
At your fact-finding meeting, ask how many times the planner foresees the two of you meeting to discuss your finances, and whether those meetings will be in person.

Step 8: Look for red flags
Beware of an adviser who has pat advice to offer before you’ve finished explaining your financial situation and goals. And stay clear of someone who acts like they’re doing you a favor by taking you on.

Step 9: Go with your gut
All things being equal, go with your gut. You want an adviser with whom you are comfortable.