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Planning Beginner: Using Financial Planners

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1.
Investment advisers are registered at the national level only.
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False. They may be registered at the state level instead, depending upon the amount of assets they manage.
2.
The last part of the financial planning process is _______.
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Evaluating the success of your plan. Once the recommendations of your plan are carried out, the last step is to monitor it.
3.
In order to get an official designation as such, a financial planner must complete intensive study in that field.
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True. A designation requires study and testing, along with experience in the field.
4.
Financial planners must act in their clients' best interests when working with them.
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True. Although this is a generally accepted notion, some planners still do not act in their clients' best interest. That's why it is best to ask a lot of questions before hiring them.
5.
A commission is an hourly charge or a fixed rate.
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False. A fee, not a commission, is an hourly charge or a fixed rate.