Test your knowledge

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Financial planning exists to help us become rich.

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True

False

False. Not everyone wants to get rich. But everyone wants to achieve their life goals, which is what financial planning is for.

Where are you likely to find many financial planners and advisors in different capacities all in one location?

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In their own private practices

At financial services companies

At a credit union

None of the above

At financial services companies. These companies employ many planners and advisors in many different capacities.

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.

Some financial planners can also buy and sell investments for you.

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True

False

True. If they have the licenses for it, they can offer this service.

If you are charged money for stocks that you buy from your financial planner who is also a licensed stockbroker, that charge is called _______.

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A fee

A commission

Either a fee or a commission

A commission. Commissions are charged when you buy or sell a stock.

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