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
- SEC, Investor Bulletin: Top Tips for Selecting a Financial Professional.
- FINRA, Understanding Professional Designations.
- Allan Roth, “The Two Faces of Your Financial Planner,” AARP The Magazine, April/May 2012, pp. 57-59 & 83. Available online as “How to Choose a Financial Planner.”
- SEC, How to Pick a Financial Professional.
Scroll down for a good explanation about brokers – discount vs full service, opening an account, etc. - Jessie White Secretary of State, Securities Department. Investment Advisers.
Verify licenses or registration, and to check disciplinary history:
- Brokers – http://www.finra.org/brokercheck/
- Investment advisers – SEC’s Investment Adviser Public Disclosure
- State and SEC registered
- RIAs and Investment adviser representatives
- Insurance agents
- Illinois Department of Insurance, Licensee Look-up.
Recommended interview questions
- NAPFA, Comprehensive Financial Planning Diagnostic.
- FPA, “Choosing a CFP Professional” on Choosing a Certified Financial Planner. See especially: Questions to Ask
- FINRA, 5 Steps for Selecting an Investment Pro.
- University of Illinois Extension, Choosing a Financial Professional: Interview Guide.
Search for a financial planner in your geographic area
- National Association of Personal Financial Advisers, NAPFA.org
- Fee-only planners
- GarrettPlanningNetwork.com
- Fee-only planners; hourly; goal of serving all people
- 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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