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Do I Really Need a Financial Team?


A reader wonders what makes a financial planner a necessity.

Financial planners are recommended because they look at your overall financial situation and then make a recommendation. Other financial advisors, such as accountants or stock brokers, might only be trained to focus on a very specific area of your financial life.

According to the

, “in addition to being qualified to provide you with general financial planning services, many financial planners are also registered as investment advisers or hold insurance or securities licenses that allow them to buy or sell products.

Choose a financial planner is important because they provide more guidance for your overall life. However, because you will be relying on your financial planner for a lot of life’s decisions, you have to be sure that you trust them. The CFB recommends asking a “financial adviser what qualifies him or her to offer financial planning services.”

Q: How necessary is it for me to have a financial planner in addition to or instead of another type of financial advisor?A: Certified Financial Planner Board of Standards, Inc

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