While most of us are able to put together a decent financial plan and budget our finances pretty respectably, there are still occasional times where it may be necessary for us to seek out the assistance or advice or a professional financial planner. To hire the right financial planner you need to know exactly what you’re looking for and what you want that planner to help you with. Sometimes even you if have an idea of what your looking for, they can bring you the rest of the way.

Although ‘financial planner’ is what you are looking for, that is a fairly broad description. Many planners focus their expertise in particular fields or areas. The more you know about what you want to get out of a financial planner, the less research you have to do in finding the right one. You could need a planner to review your retirement portfolio, or a small business financial planner, or a planner to assist in setting up financial options for college.

Understand what certifications are available in the financial planning industry, as there are several. A CPA (certified public accountant) is a good choice when seeking help on your taxes. A PFS (personal financial specialist) has gone through similar training of a CPA and has also undergone additional financial planning education. A CFP (certified financial planner) goes one step further and has completed a minimum of three years of experience. CFP’s can generally offer you the broadest ranch of advice financially. A Chartered Financial Consultant deals in insurance and has completed higher education in economics and investments. A Chartered retirement Planning Counselor provides extensive retirement counseling.

Make sure that once you have identified the type of financial planner you are seeking you request and interview with each and everyone. This interview should be done at no cost to you as it benefits both you and the planner. You will want to ask questions such as how long they have been in the industry, and perhaps where they received their education and licensing.

Make sure to discuss payment. Does this planner get paid on commission, flat fee, or a fee based on assets. Commission is the most common and basically means that your advisor is paid when you purchase an investment and a portion is deducted for payment. A flat fee can either be overall or by the hour. To pay a fee based on your assets means your advisor receives an annual fee that is based on the assets you received with them.