The Certified Financial Planner Board of Standards, Inc., the organization that grants and upholds the CFP® certification, has put together a consumer piece called, 10 Questions to Ask When Choosing a Financial Planner.

Here are my answers to each of those 10 questions:

1. What experience do you have?

I have worked in financial services since 2000, providing financial planning services, insurance, lending and investment advice to individuals, families, corporations, pension plans and private foundations.  Until the end of 2005, I did so in a sales environment as a full-service brokerage representative before becoming a fee-only, advice-only financial planner and financial counselor. I have been providing financial counseling and education services for the US Department of Defense since 2008.

2. What are your qualifications?

I am a CERTIFIED FINANCIAL PLANNER™ certificant.  That means I have successfully completed the education, examination, experience, and ethics requirements set forth by the Certified Financial Planner Board of Standards, Inc.   I am also an Accredited Financial Counselor by the Association for Financial Counseling and Planning Education.

3. What services do you offer?

I offer customized financial planning and advice on an hourly, as-need basis.  I also offer several fixed fee packages for common services. Whether you need to take comprehensive look at a lifetime cash flow plan or just seek an answer to a specific question, I can provide as much or as little help as you desire.

I do not provide asset management services, financial products, accounting, tax preparation or legal advice.

4. What is your approach to financial planning?

Financial planning is about your priorities, not someone else’s.  It should reduce uncertainty, provide a clear plan of action, and allow you to make informed choices about personal financial matters.  Planning ought to provide a welcomed balance between having comfortable goals and confidence in achieving them, so you can avoid making unnecessary sacrifices or taking unnecessary risks.  It is important to remember that financial planning is a process, not an event.

5. Will you be the only person working with me?

When it comes to providing financial planning services at Swan Financial Planning, I will be the only one working with you; however, you will likely work with other professionals, who will also assist you in carrying out your plan.  These other professionals may include attorneys, tax preparers, insurance agents, investment brokers, portfolio managers, lenders, employee benefits administrators, or even other financial planners.  It is important to understand that these other professionals operate completely independent of Swan Financial Planning and will charge their own fees for their services.

6. How will I pay for your services?

Services are provided on a fee-only basis.  Fee-only means that you pay a fee for the services provided and no commissions or third-party compensation is ever accepted.  Fees are paid directly to Swan Financial Planning.

7. How much do you typically charge?

The current hourly rate is $200 and is billed in 6-minute increments.  Most engagements are at a fixed fee, agreed upon in advance and based on the typical amount of time necessary to complete less a slight discount.  Think of these fixed fee engagements like a bulk purchase of my time. There is no minimum other than the first increment of time.  The total fees for financial planning varies depending on the specific needs and complexity of your situation; however, many people spend $350 for a 2-hour session or $1,200 to $1,500 for a baseline retirement plan and then about $600 per year to maintain their plan. Others need a few additional hours of advice to get them squared away.  See my Fees page for more information.

8. Could anyone besides me benefit from your recommendations?

Recommendations are made solely for your benefit; however, your other professional advisors may stand to benefit if you purchase products or services from them.  To avoid a conflict of interest, I do not accept any compensation nor do I maintain any compensation or referral arrangements with any financial service providers or other professionals.  If a potential conflict of interest exists due to my relationship with another client, I will disclose the nature of the conflict of interest to you in writing.

9. Have you ever been publicly disciplined for any unlawful or unethical actions in your professional career?

No. Nor have I been privately disciplined.  Furthermore, I have never been involved in any unlawful or unethical actions in my career.  To check the discipline history of any financial planner or advisor, visit:

Certified Financial Planner Board of Standards, Inc.

www.cfp.net, 888-237-6275

North American Securities Administrators Association

www.nasaa.org, 202-737-0900

National Association of Insurance Commissioners

www.naic.org, 816-842-3600

Financial Industry Regulatory Authority

www.finra.org, 800-289-9999

Securities and Exchange Commission

www.sec.gov, 202-942-7040

10. Can I have it in writing?

Absolutely!  Feel free to print this page.  Also, much of this information is contained in my Firm Brochure and Supplement also known as Form ADV part 2A and 2B.  These documents contain important information about fees, qualifications, ways of doing business, philosophies, potential conflicts of interest, etc.

For More Questions and Answers:

Go to my Frequently Asked Questions page, or see my answers to the NAPFA Comprehensive Financial Advisor Diagnostic tool.