Financial Planning Courses: Choosing a Financial Planner

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1.
At what point in the process of working with a financial planner do you establish the goals you are trying to meet?
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In the beginning. Setting your goals must be done at the beginning. Otherwise, your planner won't know what kind of plan to craft.
2.
A financial plan should be _______.
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All of the above. A financial plan should be all of these, and more.
3.
Financial planners who are compensated only by commissions are not objective, and their advice is not reliable.
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False. Many planners belong to a trade group or regulatory organization that places ethical obligations on the individual to give objective advice regardless of how they are compensated. However, to be clear about what you are paying, you should inquire about the method of compensation.
4.
Your bank or credit union might have a financial planner you can work with.
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True. Many banks and credit unions can give you access to a financial planner to help you with your financial challenges.
5.
Your financial planner receives 2 percent of the amount invested in a mutual fund from the mutual fund company. This is known as _______.
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A commission. Some planners who are also licensed insurance agents, stockbrokers, or financial advisors get paid by receiving a percentage of what you invest from the underwriter or investment company.