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Financial Planning Courses: Choosing a Financial Planner

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1.
What is the purpose of doing financial planning?
Choose wisely. There is only one correct answer.
To achieve your goals and dreams. Financial planning exists so you can manage your money such that you achieve your goals and dreams.
2.
Why is it a good idea to evaluate your financial plan regularly?
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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.
Financial planners who are compensated only by commissions are not objective, and their advice is not reliable.
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False. Many planners belong to a trade group or regulatory organization that places ethical obligations on the individual to give objective advice regardless of how they are compensated. However, to be clear about what you are paying, you should inquire about the method of compensation.
4.
You can locate a financial planner by researching the various professional associations that serve planners.
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True. You can go to their Websites and find planners who work near you.
5.
Your financial planner receives 2 percent of the amount invested in a mutual fund from the mutual fund company. This is known as _______.
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A commission. Some planners who are also licensed insurance agents, stockbrokers, or financial advisors get paid by receiving a percentage of what you invest from the underwriter or investment company.