One of these two has a fiduciary duty to serve your interests above all else. The other does not. This is not the only important difference between them. Learn the rest in our comprehensive article.
What’s the difference between financial and retirement planning? Generally, retirement planning is a subset of the more comprehensive financial planning.
The two biggest mistakes a person makes when they aren’t receiving advice from a financial advisor are related to the timing and choice of an action.
There are many mistakes that can be avoided with good financial planning, most of them related to one of two things,—choices and timing.
Few people are aware that there is more than one professional designation for financial planners. The most common designation is that of a “CFP”, or certified financial planner. However, there is another less common designation, the “PFS” (also “CPA/PFS”), or Personal Financial Specialist. This designation is less common for a reason.
The decision to carry life insurance and how much to carry is a very personal decision with most of our clients. The method we use as a starting point in this discussion is called “Asset Replacement”.
Though your financial advisor is likely not your tax preparer, he is likely in a better position to understand your comprehensive financial and tax situation.
A financial advisor, especially a Registered Investment Advisor (RIA), can provide exceptional value to those either leaving or receiving an inheritance.
A financial advisor who is also a CPA is in a unique position to assist clients with estate planning. Though not an estate attorney, the advisor has intimate knowledge of the client’s financial situation, personal and family goals, investment portfolio, cash flow needs and more.
As a CPA/PFS, MBA, and business owner himself, Todd Frank is uniquely qualified to advise business owners of any size of business.