Planning Beginner: Using Financial Planners

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A commission is an hourly charge or a fixed rate.

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True

False

False. A fee, not a commission, is an hourly charge or a fixed rate.

Before you can begin making a financial plan, your financial planner must examine _______.

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Your financial goals

Your current financial information

Your timeframe for meeting your goals

All of the above

All of the above. A planner will look at all of these in the beginning.

Investment advisers are registered at the national level only.

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True

False

False. They may be registered at the state level instead, depending upon the amount of assets they manage.

Within certain limits, a stockbroker can offer financial planning advice.

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True

False

True. Though they don't enjoy the same advice-giving privileges as registered investment advisors, they are allowed to give some advice, within guidelines.

All financial planners offer the same types of services.

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True

False

False. The services a planner offers can vary greatly among planners.

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