Choosing a Financial Advisor Near Rochester, MI
If you’re in need of financial guidance, you’re not alone. Many Americans incur costs, like fees or tax penalties, due to a lack of financial knowledge. Partnering with a financial advisor can help you manage those costs and can help provide you with the tools to build a path to your long-term financial goals. Just like your financial situation is unique to you, the services financial planners offer can vary based on their education, experience, and designation. Considering these steps may help you find your ideal financial advisor.
Consider Areas of Your Financial Life That Would Benefit from a Financial Advisor
By considering your unique financial situation, you can confidently outline your goals when you meet your financial planner.
A CERTIFIED FINANCIAL PLANNER™ professional can provide a broad spectrum of financial services and support, from retirement planning, risk management, debt consolidation, estate planning, and tax management.
Financial planners keep your goals at the forefront of all insight and tools provided. For example, if your financial situation is relatively straightforward, you may only need a few of the services offered, like retirement planning. For more complex financial situations, you may need more extensive guidance, like planning how to consolidate debt to reach your goals or trust management. Remember, as you work with a financial planner, your financial situation and needs may change. Choosing a financial planner who can meet your current and future needs can help you confidently move forward with your long-term goals.
Do Your Homework on Financial Planners in the Rochester Area
Financial guidance comes in many forms, with professionals offering different services, tools, and insight to individuals. Do your homework on what services the financial planners near you provide and consider the reputation they hold. I feel financial planners should be experienced and transparent, keeping your goals at the forefront of all decisions.
When it comes to your financial security, it’s all about partnering with someone who is committed to putting your interests first. CERTIFIED FINANCIAL PLANNER™ professionals have attained the standard of excellence in financial planning by meeting education, experience and ethical standards, and as part of their certification, they have made a commitment to CFP Board to serve your best interests today to prepare you for a more secure tomorrow.
Learn More about Partnering with a CERTIFIED FINANCIAL PLANNER™
Key Questions to Ask Your Financial Advisor
Keep these questions in mind when researching or meeting your financial planner for the first time.
Fiduciary Status: As part of their certification, a CFP® professional commits to CFP Board to act as a fiduciary—which means to act in the best interests of the client at all times when providing financial advice and financial planning.
Financial Planning Approach: What strategies and methods do they follow in their financial planning approach?
Available Services: What are their available services, and do they align with your current and future financial goals?
Client Profile: What kind of client profile have they built? Do they have experience helping clients with similar financial situations as your own?
Account Minimums: Do they have any specific account minimums that must be met? If so, does your financial situation meet their account minimums and requirements?
Required Information: What documents and required information does your financial planner need to provide detailed support?
Meeting Frequency: How often do they meet with clients, and how long are those meetings typically? How do they keep channels of communication open throughout the financial planning process?
Collaboration with Advisors: Do they utilize support from external sources such as CPAs or attorneys?
About Larry Davis, CERTIFIED FINANCIAL PLANNER™
Larry has been active in the financial planning field since 2004 and is the founder of Davis Capital Management. As a well-known financial planner in the Southeast Michigan area, he works primarily with small business owners, post-divorce planning, and people transitioning from their working years into retirement. Davis Capital Management is located in Shelby Twp, just minutes away from Rochester, MI.
Through his experience he has developed and refined wealth management processes including the PET FORMula™. He is an active member in the Financial and Estate Planning Council of Macomb County and is actively involved with the Rochester Chamber of Commerce. He resides with his wife and three children in Washington Township and feels very blessed to be a part of this community.
Sources:
letsmakeaplan.org/how-to-choose-a-planner/fiduciary-duty-your-interests-should-come-first
forbes.com/advisor/investing/how-to-choose-a-financial-advisor