Is it ok to hire a Financial Planner that is not a member of NAPFA?
I was referred to a local, fee only planner, but they are not on the NAPFA website. Does this present a risk or is it common that all companies don’t register, perhaps due to cost of membership? It is a fairly small company. Thanks for your input, I love your show.
Terry Says
Yes, not all fee-only planners are NAPFA members. Make sure though that they are Certified Financial Planners, and fee only. And that they will sign the Fiduciary Pledge — to put your interests ahead of their own, and to fully reveal all fees, commissions, and incentives behind their recommendations. If they won’t put that in writing, stay away!
But wait just another week or two because I’m working on a column about a fabulous new service that matches people with fiduciary, fee-only financial planners that have been carefully vetted. It may be the answer to your search.
