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1.
Any financial planner will work with people of all income levels.
False. A planner might prefer to work with people of high income levels or more moderate or lower income levels. This is why you should ask first.
2.
Why is it a good idea to evaluate your financial plan regularly?
To make sure it is meeting your needs. You should evaluate your plan regularly because your goals might change, your investments might need to change -- and you might even need to change your planner.
3.
In order to sell investment advice, a financial planner must be registered as _______ to give investment advice.
An investment adviser. In order to legally sell investment advice, a financial planner must be registered as either an investment adviser or an investment adviser representative with the state in which he or she does business.
4.
A financial planner might charge you both a fee and a commission.
True. Since fees and commissions compensate the planner for different services, some planners will charge both. It's good to ask how he or she charges.
5.
In order to get an official designation as such, a financial planner must complete intensive study in that field.
True. A designation requires study and testing, along with experience in the field.
