Yahoo Finance
How can I find a certified financial planner (CFP) who is not associated with a brokerage house? I want truly independent advice and not steered toward selling me securities.
Everyone I have called turned out to be associated with a brokerage house.
This question shows that you're definitely on the right track towardfinding a financial advisorwho will put your needs first.
There's no surefire way of finding the right fit, but there are a few important filters you can use to increase your odds.
(Looking for financial advice?This tool can help match you with potential advisors.) Looking for acertified financial planner (CFP)professional is a fantastic starting point.
Obtaining the CFP certification is a rigorous process that requires you to complete comprehensive financial planning coursework, pass a challenging exam, obtain several years' worth of experience, adhere to a strict code of ethics and keep up with continuing education requirements.
Not all CFP professionals are independent, and some sell securities and other financial products.
But no matter what, they have a significant amount of education and experience that can help them provide better advice. (Looking for financial advice?This tool can help match you with potential advisors.) One of the surest signs of a financial advisor's independence is his or hercompensation model.
To be clear, there is no perfect compensation model that completely removes all conflicts of interest.
Every model has some inherent biases that could affect an advisor's recommendations.
But there are certain compensation models that are designed to minimize those conflicts of interest and more closely align an advisor's pay with his or her clients' goals.
Commission-based financial advisorsare paid to sell financial products.
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