Why work with a CFP?
We have all been there… your car stuck on the side of the road when you have places to be and people to see. Maybe you have a flat tire, or maybe it is something worse like a bad transmission. While you may be able to change your own tire, you would never let your transmission or engine be worked on by any old Joe or neighborhood kid. Your car needs specialized attention by an experienced and well-trained mechanic. Just as the foundation of your automobile needs a professional’s touch, your finances provide the foundation for your life and must be handled carefully.
A Certified Financial Planner® is the mechanic of your finances. Whether used for milestone events or routine maintenance, a Certified Financial Planner® will be able to provide you with the best advice. The reason a professional with the CFP® designation should be valued as much as your mechanic, is because they are held to a higher standard than other advisors. The law requires this kind of professional to have a fiduciary responsibility for their clients. When choosing between their own self and the client’s best interest, a Certified Financial Planner® will choose to put the client’s needs first---always. A planner will provide open communication concerning risk and reward potential with your investments and be someone you can trust to listen and understand your financial goals and objectives.
To gain this prestigious title and role, a few requirements must be met. First, a planner must meet an education requirement that ensures a Bachelor’s degree or higher has been attained and specialized courses in financial planning have been successfully completed. Second, the 10-hour CFP® Certification Examination must be passed which covers topics such as analyzing financial status and developing recommendations. Third, the candidate must have three years of relevant experience to ensure competency in real life situations. Lastly, potential CFP’s® must pass the CFP® Board’s Fitness Standards for Candidates and Registrants in order to demonstrate the ethical nature of the Professional.
Here at Bower’s Advisory Group, LLC we may not be able to diagnose the cause of the strange sound coming from under the hood of your car, but we will be able to jump-start your financial situation towards a road of success. Your life may be a wild ride but you can count on us to create a plan that is as unique as you are.
Bowers Advisory Group LLC would like to thank our intern, Samantha Pollick, for writing the above blog.