Financial planning will mark the difference between making ends meet and financial freedom, or being able to retire early or working through the golden years." However, finding the right financial planner can be a chore. Here are some tips to get the best financial planner possible.
First and foremost, be prepared when searching for a financial planner in Ontario. Individuals need to know what they want from their financial planner and what they do not want. For example, does a person want a fee-based planner or a commission-based planner?
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A fee-based planner takes a percentage of the amount invested and there is often no conflict of interest because they are not earning a commission. Are they looking into life insurance or are they looking for investment advice for a large portfolio? Some people are looking to start creating a retirement plan so they can be set throughout their golden years.
Knowing what an individual needs and being able to articulate it is the first step in success with finding a planner. There are two different types of planners – general planners and specialists.
If an individual is looking for a number of financial planning options, a general financial planner will be able to assist with everything from mutual funds to life insurance arrangements.