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Financial planners must act in their clients' best interests when working with them.

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True

False

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.

Where can you find financial planners?

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In their own private practices

At financial services companies

At your bank or credit union

All of the above

All of the above. Financial planners can be found in any of these locations.

A commission is usually a fixed rate.

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True

False

False. A commission is an amount paid to an agent as compensation for executing a transaction. Commissions are usually a percentage of the amount you invest in a product.

A financial planner _______.

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Gives advice on all areas of financial well-being

Helps clients create financial goals

Both of the above

Both of the above. A financial planner gives financial advice on all areas of life and helps clients create goals.

Why is it a good idea to evaluate your financial plan regularly?

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To make sure it is meeting your needs

To stay in contact with your financial planner

Because financial plans need to change every year

All of the above

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.

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