Follow these links to learn more about different types of financial professionals, how to verify their credentials or disciplinary history, and questions to ask candidates.
Educational Resources for Consumers
- Consumer Financial Protection Bureau. Choosing a Financial Professional. While this publication is aimed as military servicemembers, most of the information is equally useful to civilians. (PDF)
- FINRA, Working with an Investment Professional, spells out the types of investment professionals you may encounter as well as questions to ask and tips for working with them.
- FINRA, Professional Designations. Financial advisors typically list one or several credentials after their names. Some represent extensive study and expertise, while others can be obtained with little effort. Use this page to look up those credentials. Things to look for include:
- What are the prerequisites before the individual can apply for the credential?
- Are there required classes?
- Is there an exam?
- Is continuing education required to keep the credential?
- Can the credential be revoked?
- Investor.gov: Investment Professionals. This page from the SEC contains links to useful discussions about different types of financial advisers, questions to ask, how fees and and expenses affect your investment results, and more.
Verify licenses or registration, and to check disciplinary history:
- Verify that your broker is legally registered and licenses to sell various financial products, and see whether they have been subject to any regulatory actions at http://www.finra.org/brokercheck/ .
- For investment advisers, see Investment Adviser Public Disclosure. The site covers both state and SEC registered advisors, and both firms (RIAs) and and those who work for the firm, referred to as Investment adviser representatives.
Choosing an advisor; Recommended interview questions
- National Association of Personal Financial Advisers, How to Find an Advisor.
- Financial Planning Association, Choosing a Certified Financial Planner. See especially, “Questions to Ask in Your Search for a Qualified CFP Professional.”
- FINRA, Working With an Investment Professional. See “Ask Key Questions.”
- GarrettPlanningNetwork.com – scroll down to the button to Download the Questionnaire.
Search for a financial planner
- National Association of Personal Financial Advisers, NAPFA.org
- Fee-only planners
- GarrettPlanningNetwork.com
- Fee-only planners; offer hourly services as well as other fee arrangements; goal of serving all people. Some planners work virtually with clients.
- Financial Planning Association, http://www.plannersearch.org/.
- Only CFPs; various compensation models
- CFP Board of Standards, http://www.letsmakeaplan.org/
- Only CFPs; various compensation models
Karen Chan Financial Education & Consulting, LLC 
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