Rather the financial planner can help coordinate your financial planning with your accountant, insurance agent, investment professional, and estate lawyer. The broad expertise that a professional financial planner possesses will help insure that your financial goals are met and that all areas of your financial life are reviewed. Hiring a planner will help you avoid expensive financial mistakes that could seriously damage your financial health. It would not be difficult for most financial planners to find serious gaps in most household finances, gaps that are easily worth the cost of the planner's services. Even individuals with expert knowledge in one finance field such as investments can overlook areas such as insurance or estate planning.
Few people have the time, desire, or expertise to do a complete financial plan for themselves.
Saying that most would benefit from using a financial planner is not to imply that there are not wide differences in abilities and costs among planners. Few areas will pay richer rewards for the public than gaining basic knowledge in personal finance. If one is not careful, fees and commissions could negate much, if not all, of the benefit of using a financial planner. This article lists a few issues to consider when choosing a financial planner. The first step in looking for a financial planner is to limit your search to someone who is certified in financial planning.