A lot of so-called “financial advisors” are really just commissioned salespeople. Their goal is to get you to buy life insurance, annuity products and/or mutual funds with hefty sales loads and high fees.
For good financial advice, you want to deal with a fee-only advisor. Someone who doesn’t have those conflicts of interest. You want a reputable certified financial planner. You can search for a certified financial planner via the National Association of Personal Financial Advisors. (847-483-5400; www.napfa. org) This is an organization of fee-only (non-commissioned) financial professionals.
The Certified Financial Planner Board of Standards (800-487-1497; www.cfp.net) was set up to help self-regulate the industry. And to provide a
measure of “quality control” for consumers. You can use the CFP Board to help locate a financial planner, find out if a financial planner has been formally disciplined, or file a complaint against a financial planner.