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Comprehensive Financial Planning Checklist
Consumers today need to know that when they engage a financial advisor that the advisor is comprehensive in their approach to financial planning and is competent in their abilities to deliver the prudent recommendation you depend on. But with the growth of the industry, and the loosely used term of “Comprehensive Financial Planning”, are you truly receiving comprehensive planning from a competent advisor? It’s a question that the National Association of Personal Financial Advisors (NAPFA) wants to help you answer.
The following checklist can be used in the initial screening of a financial advisor. It is designed to help you better understand what the advisor can do for you in terms of helping plan for your life’s goals, while measuring their ability to appropriately deliver on their promise to you. This checklist is meant to serve as an initial screening tool. To more thoroughly identify a prospective advisor’s abilities and competencies, please download the full Comprehensive Financial Planning Diagnostic.
Call 800-366-2732 for more information.
Is Your Advisor Comprehensive?
Comprehensive Services Offered:
• Goal Setting (Y/N)
• Cash Management (Y/N)
• Cash Budgeting (Y/N)
• Tax Planning (Y/N)
• Investment Review (Y/N)
• Investment Planning (Y/N)
• Estate Planning (Y/N)
• Insurance Needs (Y/N)
• Education Funding (Y/N)
• Retirement Planning (Y/N)
• Other Services Offered (Y/N)
Method of Providing Services (check all that apply):
• Provide a Written Analysis _____
• Provide Recommendations _____
• Provide Implementation _____
• Provide Ongoing Advice _____
Is Your Advisor Competent?
Educational Background:
• College Degree (Y/N)
• Graduate Degree (Y/N)
• Primary Area of Study: ________
Certifications (check all that apply):
• NAPFA-Registered Financial Advisor ______
• Certified Financial Planner (CFP) ______
• Chartered Fin. Consultant (ChFC) ________
• Certified Public Accountant (CPA) _______
• Personal Financial Specialist (PFS) _______
• Financial Planning Association (FPA) _______
• Other Certifications:
Experience:
• How long have you been providing financial planning services? ________
Compensation (check appropriate method):
• Fee-Only _____
• Commissions ______
• Fee-Based (Fee and Commissions) ______
• Fee Offset _______
Regulatory:
• Disciplinary Actions? ______
• Registered Investment Advisor? ______
• Sign a Fiduciary Oath? _______
*You are encouraged to visit www.sec.gov and click on Check Out Brokers & Advisors (under Investor Information) to see if the SEC has disciplined your prospective advisor.
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